Skip to comments.Mitt Romney suggests cutting mortgage interest deduction on eve of presidential debate
Posted on 10/02/2012 7:52:58 PM PDT by RaisingCain
In an interview Monday night with Denver TV station KDVR, Romney said, "As an option you could say everybody's going to get up to a $17,000 deduction. And you could use your charitable deduction, your home mortgage deduction, or others your health care deduction, and you can fill that bucket, if you will, that $17,000 bucket that way. And higher income people might have a lower number."
A Romney adviser said changes in other areas a taxpayer's personal exemption and the deduction or credit for health care would also be taken into account if deductions were limited as Romney suggested. Combining changes to those two areas with the limit on deductions would maintain Romney's goal of keeping tax burdens the same for wealthy and middle income taxpayers, the adviser said.
(Excerpt) Read more at newsday.com ...
Watch him get pounded over this one.
Frankly we should just scrap the whole corrupt failure that is the US Tax code.
Oh, good lord.
RC when will the insanity stop.
That’s ok. It removes the biggest straw man argument against the Fair Tax.
flat tax, mitt. no deductions
He’s a dummy. It’s one thing to think it, but don’t mention it before an election. He has a loser wish.
Back at him, how ‘bout for two years we make credit card interest deductible like it used to be? That’ll mess everyone up.
We should ALL get to deduct primary mortgage interest at full value even if we file short form. My mortgage interest never gets deducted because I file standard deduction short form. I don’t have enough deductions to exceed the standard deduction......
Well, some people are not going to like that proposal at all. But, you know, if you’re riding a big wave landslide, you can afford to sacrifice some votes.
Here comes the bedwetting
This will raise taxes for a lot of families. The last Republican we nominated who raised taxes was George W. H. Bush. After he raised taxes he lost.
... actually ... with 3% interest rates the mortgage interest deduction ain’t what it used to be anyway. My first home loan was at 13%.
Brilliant move ... no, really, brilliant. Guess you're trying to THROW the election?
Mittens has a terminal case of foot-in-mouth disease.
I’ve heard of having a “death wish”.
Mitt seems to have a “lose wish”.
This isn’t new. This came out early on in the Primaries and was even discussed on Free Republic for at least one thread. It was from a donor meeting that was allegedly supposed to be secret, but we found out about it anyway.
I don’t think Mitt comprehends that it’s at all risky or a problem.
I’m still trying to figure out though the point of lowering taxes just to get people to pay about the same amount via closing loopholes and deductions. It’s the same gimmick he pulled in his home state, and I truly do not understand what the selling point is. A simpler tax system?
Wish he would drop the class warfare bit. Every taxpayer should have deductions lowered.
That would be one of the most productive things Romney could ever do.
Get the tax code written, so it’s competitive.
The Denver Dementia continues. First with the “Dream” amnesty statement (will not deport those who ‘paid for’ Obama’s lawless amnesty decree), and now this pointless stupidity.
Herman Cain wanted to cut all the deductions, so this should be popular with some posters.