Posted on 10/24/2008 2:20:33 PM PDT by freespirited
Unintended Consequence: some people can afford their existing home because of the tax law as it was when they signed the mortgage. Removing some of their mortgage deduction will not only decrease the amount of money available to make the payments, it will tend to boost the tax family’s tax bracket!
Yet another reason for the Fair Tax.
Wow! Giving total governmental power to the most extremist maggots in our society was a brilliant idea. The brilliance of the people living in this country never ceases to amaze me.
Tch, you’re making the assumption that this is meant to benefit the people. This is strictly the government grabbing more power while hiding behind their endless “for the common good” smokescreens.
I heard the same thing ... that's why I dug this out.
Gee. I guess the upside on this is that I can use the 1040EZ form instead.
Yeah, this would really help homeowners. Also, there’s the more practical matter of how this would even be enforced? I guess they can force lenders to identify if a home meets a certain classification when they send in the interest paid form to the IRS.
Got d@mn who are all the morons out there who want the government sodomizing them like this?
Seriously, something like this would just kill the housing market and any potential recovery, just as all of the bad mortgage paper is being worked through the market.
This election is like one big national IQ test.
China has a solution for this problem.
Many years ago-—I mean like the late 1960’s-—I was traveling in Mexico and asked why it seemed there was always a hole or some other unfinished area of a building.
A local told me that an unfinished building in Mexico was assessed lower taxes.
Now we are importing Mexican tax laws into the USA!!!!
Who woulda thunk!!!!
Most congressmen have more than one house. One in the district and one in DC (even if its rented, it still poses another carbon footprint). Betcha they stop short of combining square footage to protect themselves.
These LibTard DhimmiRats aren’t going to be satisfied until they foment armed insurrection in the streets. That’s something they would never weather, something they could never actually survive. But, still they continue with their agenda of condemn and control.
It may well be time that the tree of liberty be refreshed...
I hate to use the f-word, but the only phrase that comes to mind is “f**king idiot.”
Why do I swear more when listening to liberals?
How about we eliminate your seat, and save the planet?
Is that the one that only has two lines:
1. How much income did you have this year? _____
2. Send it in. _______
No. They are simply acting the way communists do. The question is whether the majority of Americans have lost their minds.
Schizoid...I admit most of the McMansions are awful and running a lot of nice neighborhoods but Congress should but out.
The mortgage interest tax deduction currently is limited to interest paid on the first $1 million in acquisition debt.
To limit it still further by square footage is a Dem public relations ploy, and targets bigger families.
“Gotta keep that damn middle-class under control! Can’t let ‘em get all uppity and what-not.” /sarc
The Breck Girl will have to move!
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