Are Republicans really going to take away your interest deduction?

[g5000]

http://webarchive.urban.org/Uploade...erest-Deduction-Affect-the-Housing-Market.pdf

One widely cited 1996 study by Dennis Capozza, Richard Green, and Patric Hendershott estimated that eliminating the mortgage interest and property tax deductions would reduce housing prices in the short term by an average of 13 percent nationwide, with regional changes ranging from 8 to 27 percent.

 

[Timmy]

The government is forcing me to buy a house, under the threat of a loaded gun !!

 

[imawhosure]

It needs to go, along with just about every other deduction. We need to stop using the tax code for social engineering purposes.

Wrong ^^^ on both counts.

a. Blind siding homeowners is wrong & sure to cost those who vote for it their job. Remember, every member of Congress makes their job security job #1.

b. Without "Social Engineering" (SE), our republic would have become an Oligarchy more than a century ago; the Robber Barons would have made sure of that.

This person knows what would have happened. He is no longer Wry, from here forward, he is Karnak the Magnificent!

 

[Wry Catcher]

Be careful what you wish for, tax reform under Ryan & the Tea Party caucus - now claiming to be the freedom caucus - will benefit themselves & their major donors, and the rest of us will pay for it.

 

[g5000]

Why Now's the Time to Kill the Mortgage Interest Deduction

Proponents of the deduction argue that it's a key component to keeping home prices up.

Do you hear that? An open admission the deduction drives up the cost of housing! How can ANY person who claims to be a conservative support this kind of direct government interference in the marketplace?

As much as homebuilders argue that eliminating the deduction would hurt them, economists agree that the biggest impact would be on the highest-priced homes, with more reasonably priced real estate seeing little or no impact from getting rid of the deduction.

Homebuilders whining about losing their government tit.

 

[imawhosure]

and cut taxes for those who profit from your monthly mortgage payment?

They're considering it.

Being a Socialist as you are, why are you complaining? They are going to double the standard tax deduction instead, meaning none home owners get more cash! Or, are you just trying to find something to bitch about, since the Russian DELUSION isn't working out for ya-)

 

[g5000]

I've just shown the MID artificially BOOSTS home prices and that eliminating it, far from being a monkey wrench, would restore the housing market to its natural price level.

Now ask yourself: Who is benefiting from our government interfering in the market and boosting higher home prices?

Answer: Home builders, lenders, realtors.

The MID is a massive government wealth transfer scheme up the food chain.

 

[Skull Pilot]

and cut taxes for those who profit from your monthly mortgage payment?

They're considering it.

As well they should

We should get rid of ALL tax deductions and initiate a flat tax on all income

 

[Wry Catcher]

It needs to go, along with just about every other deduction. We need to stop using the tax code for social engineering purposes.

Wrong ^^^ on both counts.

a. Blind siding homeowners is wrong & sure to cost those who vote for it their job. Remember, every member of Congress makes their job security job #1.

b. Without "Social Engineering" (SE), our republic would have become an Oligarchy more than a century ago; the Robber Barons would have made sure of that.

This person knows what would have happened. He is no longer Wry, from here forward, he is Karnak the Magnificent!

Nah, one doesn't need to be Nostradamus to have made such a judgement, one need only take ConLaw.

 

[Wry Catcher]

and cut taxes for those who profit from your monthly mortgage payment?

They're considering it.

As well they should

We should get rid of ALL tax deductions and initiate a flat tax on all income

A perfect plan ^^^ to create a banana republic.

 

[Wry Catcher]

President Trump is a genius. He's got liberals up in arms over possible tax increases.

the gop is going to raise taxes? since when? roflmao

He did say, although it probably was bullshit, that the rich will get NO cuts

Well, we'll see. The Freedom Caucus will not agree. It's unfortunate in that if Ryan and Trump were both on the same team, we might have seen some real tax reform for the first time since Reagan.

Reagan's tax cut, cut the deduction for Health Insurance, dues paid to unions and tools, he signed off and thus supported a large increase in military spending & the three martini lunch.

That was not reform, it was a gift to the business class paid for by the working men & women who brown bagged lunch.

He added to the deficit, for sure. And that's why I never voted for him.

BUT, rates were cut across the board, and taxes became taxes on actual earnings rather seeing how many write offs there are

The cut of the deduction on health insurance was more harmful as each year past. Far more than the cut to the individuals bracket, and there was a movement to tax benefits as earned income, don't be suprised if that is part of the Freedom caucus secret discussions.

 

[Wry Catcher]

http://webarchive.urban.org/Uploade...erest-Deduction-Affect-the-Housing-Market.pdf

One widely cited 1996 study by Dennis Capozza, Richard Green, and Patric Hendershott estimated that eliminating the mortgage interest and property tax deductions would reduce housing prices in the short term by an average of 13 percent nationwide, with regional changes ranging from 8 to 27 percent.

Putting how many families underwater? How many homeless?
Cynics consider social engineering communism, in fact it is pragmatic.

 

[eagle7_31]

and cut taxes for those who profit from your monthly mortgage payment?

They're considering it.

The US if memory serves is the only industrialized country that has the mortgage deduction. That being said I am for lowering rates and with a few exceptions closing write offs on PERSONAL income taxes. Corporate taxes are another subject. Also you can write off property taxes as well on personal taxes.

 

[eddiew37]

and cut taxes for those who profit from your monthly mortgage payment?

They're considering it.

The US if memory serves is the only industrialized country that has the mortgage deduction. That being said I am for lowering rates and with a few exceptions closing write offs on PERSONAL income taxes. Corporate taxes are another subject. Also you can write off property taxes as well on personal taxes.

Are you also for health care for all?? as we are the only major country without it Why not a medicare like plan for everyone ? 40 million already have it

 

[NYcarbineer]

They will pretend they're going to eliminate all sorts of deductions in order to make it sound like the plan is going to be fiscally responsible.

In the end it will just be a big tax cut funded by more and more and more borrowing.

 

[eagle7_31]

and cut taxes for those who profit from your monthly mortgage payment?

They're considering it.

The US if memory serves is the only industrialized country that has the mortgage deduction. That being said I am for lowering rates and with a few exceptions closing write offs on PERSONAL income taxes. Corporate taxes are another subject. Also you can write off property taxes as well on personal taxes.

Are you also for health care for all?? as we are the only major country without it Why not a medicare like plan for everyone ? 40 million already have it

The costs for that if you are referring to Sanders plan would be through the roof. Medicare has been going up way further than anyone thought possible. I posted an alternate plan, maybe two a few months back. I will try and find them and repost them for you.

 

[sartre play]

Don't like any ones plans, always more for them & the $$$$ for votes owners. with a few scraps thrown in to keep the little guy quiet.

 

[eagle7_31]

and cut taxes for those who profit from your monthly mortgage payment?

They're considering it.

The US if memory serves is the only industrialized country that has the mortgage deduction. That being said I am for lowering rates and with a few exceptions closing write offs on PERSONAL income taxes. Corporate taxes are another subject. Also you can write off property taxes as well on personal taxes.

Are you also for health care for all?? as we are the only major country without it Why not a medicare like plan for everyone ? 40 million already have it

Articles: Universal Health Care with a Conservative Twist

This was one plan I posted. I will try and locate the other.

 

[g5000]

http://webarchive.urban.org/Uploade...erest-Deduction-Affect-the-Housing-Market.pdf

One widely cited 1996 study by Dennis Capozza, Richard Green, and Patric Hendershott estimated that eliminating the mortgage interest and property tax deductions would reduce housing prices in the short term by an average of 13 percent nationwide, with regional changes ranging from 8 to 27 percent.

Putting how many families underwater? How many homeless?
Cynics consider social engineering communism, in fact it is pragmatic.

There is nothing pragmatic about government behavioral control of the population.

There anything pragmatic about government interfering in markets and driving up the cost.

There is nothing pragmatic about redistributing wealth to higher income groups at the expense of raising tax rates on every taxpayer.

 

[NYcarbineer]

The economy is growing, UE is very low, the deficit is falling.

Why mess with the tax system?