Pages

4 comments

Jump to bottom
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This page has been archived.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.

^ back to top ^

TwitterFacebook

Turn off all ads for a full year by subscribing!
For about 33 cents a day (per month) or 22 cents a day (per year), our subscription option turns off all advertisements at LGF!
Read more...

► LGF Headlines

  • Loading...

► Tweeted Articles

  • Loading...

► Tweeted Pages

  • Loading...

► Top 10 Comments

  • Loading...

► Bottom Comments

  • Loading...

► Recent Comments

  • Loading...

► Tools/Info

► Tag Cloud

► Contact

You must have Javascript enabled to use the contact form.
Your email:

Subject:

Message:


Messages may be published unless you request otherwise.
Tech Note:
Using the Contact Form
LGF Pages

This button leads to the main index of LGF Pages, our user-submitted articles. You can post your own LGF Pages simply by registering a free account with us.

Create a Page

This 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.

Last updated: 2014-03-07 2:19 pm PST

LGF User's Guide
Recent Pages
Skip Intro
Conservative Group Apologizes for Post-Aurora Photo in Campaign Ad
On Wednesday, the conservative group Americans for Prosperity was forced to apologize and retract a TV ad in Colorado that used a photograph of a grim-faced Democratic Sen. Mark Udall standing alongside a tense President Obama. It's a common ...

33 minutes ago
Views: 20 • Comments: 0
Tweets: 0 • Rating: 0
Randall Gross
Reports: FCC Poised for About-Face on Net Neutrality
If you want Net Neutrality maybe it's time to take that battle to the local level. The cable companies might not have to listen to the Feds, but they do have to listen to the local PUC and Cable Commissions. ...

1 hour ago
Views: 53 • Comments: 3
Tweets: 1 • Rating: 0
FemNaziBitch
FLORIDA: Sex Trafficking Bill Clears House on Unanimous Vote
A bill aimed at responding to sex trafficking, with a laundry list of services and safety precautions to protect victims, passed the Florida House of Representatives on Tuesday with a unanimous 119-0 vote. The bill, if passed by the ...

5 hours, 13 minutes ago
Views: 67 • Comments: 1
Tweets: 0 • Rating: 1
cycroft
Russ Campbell’s Blog
Speak­ing at a town hall in Nanaimo, B.C. on April 13, the Green Party leader called the PMO "a $10-mil­lion-a-year par­ti­san op­er­a­tion filled with ruth­less, cut­throat psy­chopaths." Eliz­a­beth May, MP for Saanich-Gulf Is­lands, later claimed she made the com­ments ...

6 hours, 8 minutes ago
Views: 33 • Comments: 0
Tweets: 0 • Rating: 0
MichaelJ
2014 Rip Curl Pro Bells Beach - ASP - Finals Day!
More: 2014 Rip Curl Pro Bells Beach - ASP The women's final is in the water now and the men's quarterfinals begin after a champion is crowned. Bells beach is delivering the goods today with clean conditions for the ...

23 hours, 10 minutes ago
Views: 70 • Comments: 0
Tweets: 1 • Rating: 0
Political Atheist
NYT Story-American Middle Class Is No Longer the World’s Richest
After-tax middle-class incomes in Canada -- substantially behind in 2000 -- now appear to be higher than in the United States. The poor in much of Europe earn more than poor Americans. The income data were compiled by LIS, ...

1 day, 3 hours ago
Views: 153 • Comments: 0
Tweets: 0 • Rating: 2
palmerskiss
Debate Discrimination - Houston Chronicle
We're glad to see Mayor Annise Parker finally stand up and propose a human rights commission that will provide local due process for victims of public discrimination. Parker told the Chronicle editorial board that she plans to release a ...

4 days, 2 hours ago
Views: 227 • Comments: 0
Tweets: 0 • Rating: 0
Idle Drifter
Calgary stabbings: How knife crime in Canada can cause ‘moral panic’
What Calgary police chief Rick Hanson called the "worst mass murder" in the city's history didn't end at the barrel of a gun. Instead, the 22-year-old suspect identified on Tuesday as Matthew de Grood is accused of entering the kitchen ...

6 days, 16 hours ago
Views: 382 • Comments: 6
Tweets: 0 • Rating: 0
aagcobb
New York Electoral College: State Joins National Popular Vote Interstate Compact.
Ben Mathis-Lilley, Slate: New York Electoral College: State Joins National Popular Vote Interstate Compact. Instead of pushing for a Constitutional amendment, which would have to be ratified in 38 states, advocates ask individual state legislatures to pass an agreement: that ...

6 days, 23 hours ago
Views: 368 • Comments: 8
Tweets: 0 • Rating: 2
iossarian
Drug Companies Want Your Money
Two thematically-related stories on the BBC at the moment: UK drug company Glaxo 'paid bribes to Polish doctors' UK drug company GlaxoSmithKline is facing a criminal investigation in Poland for allegedly bribing doctors, BBC Panorama has discovered. Tamiflu: Millions wasted ...

1 week, 1 day ago
Views: 362 • Comments: 0
Tweets: 8 • Rating: 0
 Frank says:

Shoot low, they're riding Shetlands -- European Zappa distributors Music For Nations on the occasion of some anniversary of theirs.