Pages

Jump to bottom

4 comments

1 Virginia Plain  Thu, Dec 13, 2012 5:23:26pm

Done. I'm buying my first home, and any little bit of deduction helps. Homeownership is a big responsibility, especially financial. And homeownership drives this economy, like it or not.

2 lostlakehiker  Fri, Dec 14, 2012 6:25:12am

This is a tax break for the upper reaches. Your ordinary civilian will never hit the threshold to itemize, whether or not they're paying on a mortgage.

If taxes must go up, limits on the deductions for mortgage interest make sense as a way to raise taxes. Too much is being spent on housing as it is. Houses are too big, too energy intensive, and too far flung. This is not the fault of the poor; it's a feature of upper and upper middle class life.

If you want to preserve a tax break that sometimes trickles down to helping the upper middle a bit, there are other and better ways to do it.

3 RadicalModerate  Fri, Dec 14, 2012 9:26:51am

I think there should be a homeowner's mortgage deduction - within certain limits. Purchasing a house as a primary residence would get the full tax break, and even a second "summer" home I would have no major problem with some tax relief on.
That being said, currently there are tax loopholes that allow people like mortgage "flippers" or other property investors to pay little to no taxes on what in some cases is hundreds of millions of dollars in annual transactions - which in turn gives those individuals six to seven-figure incomes with next to zero tax burden. This type of "gaming" of the system needs to be addressed.


edit:
Ugh. Looking at the poster's history, it appears that the account was created yesterday specifically to hype their own webpage.

4 philosophus invidius  Fri, Dec 14, 2012 9:50:05pm

The mortgage deduction helps everyone. Except those who can't afford to buy a house.

Other counties seem to get by without it, by the way.


This page has been archived.
Comments are closed.

Jump to top

Create a PageThis is the LGF Pages posting bookmarklet. To use it, drag this button to your browser's bookmark bar, and title it 'LGF Pages' (or whatever you like). Then browse to a site you want to post, select some text on the page to use for a quote, click the bookmarklet, and the Pages posting window will appear with the title, text, and any embedded video or audio files already filled in, ready to go.
Or... you can just click this button to open the Pages posting window right away.
Last updated: 2016-01-01 10:29 am PST
LGF User's Guide RSS Feeds

Help support Little Green Footballs!

Subscribe now for ad-free access!Register and sign in to a free LGF account before subscribing, and your ad-free access will be automatically enabled.

Recent PagesClick to refresh
NASA Studies Details of a Greening Arctic NASA scientists used almost 30 years of data from the NASA/U.S. Geological Survey Landsat satellites to track changes in vegetation in Alaska and Canada. Of the more than 4 million square miles, 30 percent had increases in vegetation (greening) ...
Thanos
5 hours, 39 minutes ago
Views: 97 • Comments: 0 • Rating: 0
Tweets: 3 • Share to Facebook
Shares: 0
Likes: 0
Comments: 0
: 0
Don’t Let Mississippi Establish Anti-Gay Religion The federal law and its many state imitators apply equally to all sincere religious believers and their beliefs. The Mississippi statute doesn't. It begins by singling out three religious beliefs or moral convictions for protection. They are that “marriage ...
Thanos
14 hours, 46 minutes ago
Views: 352 • Comments: 1 • Rating: 2
Tweets: 44 • Share to Facebook
Shares: 1
Likes: 1
Comments: 0
: 2
Brexit in Brussels: Juncker’s Mic Drop and Political Brexploitation The three presidents—Juncker along with Donald Tusk, who heads the European Council, and Martin Schulz, the president of the European Parliament—said they “expect the United Kingdom government to give effect to this decision of the British people as soon ...
Thanos
1 day, 16 hours ago
Views: 481 • Comments: 0 • Rating: 2
Tweets: 6 • Share to Facebook
Shares: 1
Likes: 0
Comments: 0
: 1
Brexit: EU Spells Out Procedure for UK to Leave The European Union has clarified the way the UK can kickstart formal negotiations to exit the bloc following Thursday's referendum. It says Britain can trigger Article 50, which sets a two-year deadline for a deal, by making a formal ...
Thanos
1 day, 18 hours ago
Views: 366 • Comments: 0 • Rating: 0
Tweets: 2 • Share to Facebook
Shares: 1
Likes: 0
Comments: 0
: 1
With Donald Trump in Scotland, Hillary Clinton Rails Against His ‘Brexit’ Response Asked about Britain's plummeting currency in a part of the nation which had voted overwhelmingly to stay in the E.U., Trump noted a money-making opportunity: You know, when the pound goes down, more people are coming to Turnberry, frankly. ...
Thanos
1 day, 18 hours ago
Views: 302 • Comments: 0 • Rating: 1
Tweets: 0 • Share to Facebook
Shares: 0
Likes: 0
Comments: 0
: 0
Former Kansas Governors Form New Political Action Group to Oppose Brownback Four former Kansas governors and other state leaders have announced an effort to raise money to oppose policies and laws created in recent years by Gov. Sam Brownback and the Kansas Legislature. The Save Kansas Coalition, which sent out ...
Thanos
2 days, 4 hours ago
Views: 637 • Comments: 1 • Rating: 3
Tweets: 49 • Share to Facebook
Shares: 2
Likes: 6
Comments: 0
: 8
Cops Nab 3 ‘Vigilantes’ With Arsenal in Van at Holland Tunnel Last Week's good guys with multiple guns. blockquote>A search turned up five pistols, an AR-15 assault rifle, a shotgun, four knives, 10 loaded clips of ammunition and a military-grade helmet. Along with Smith, John Cramsey, 50, and Kimberly Arendt, ...
Thanos
2 days, 4 hours ago
Views: 429 • Comments: 1 • Rating: 1
Tweets: 2 • Share to Facebook
Shares: 0
Likes: 0
Comments: 0
: 0
Today’s Good Guy With a Gun Teaches Us How to Open a Door With a Sig Sauer Hey, it only took two magazines to open that door. Neighbour 'Refused Him Sex' So He 'Shot the House 33 Times' Cops suspect that Sparber had become infatuated with his neighbour and after getting drunk he attempted to shoot ...
Thanos
2 days, 11 hours ago
Views: 1,097 • Comments: 3 • Rating: 2
Tweets: 3 • Share to Facebook
Shares: 1
Likes: 0
Comments: 0
: 1
Turkey Guilty Verdict for Depicting Erdogan as Gollum Did you ever notice how thin skinned bullies like to silence and punish their critics? A court in the south-western Antalya province gave Rifat Cetin a suspended one-year jail sentence and stripped him of parental custody rights. He has ...
Thanos
2 days, 11 hours ago
Views: 413 • Comments: 0 • Rating: 0
Tweets: 2 • Share to Facebook
Shares: 0
Likes: 0
Comments: 0
: 0
Britain Is Leaving the EU. Here’s What That Means. Subscribe to our channel! goo.gl vox.com is a news website that helps you cut through the noise and understand what's really driving the events in the headlines. Check out vox.com to get up to speed on everything from Kurdistan ...
Thanos
2 days, 11 hours ago
Views: 470 • Comments: 0 • Rating: 1
Tweets: 4 • Share to Facebook
Shares: 1
Likes: 0
Comments: 0
: 1