Mortgage deduction on Obama’s chopping block?

As a policy matter, I’ve never quite understood why homeowners should be so favored over renters, but I don’t see this “reform” happening anytime soon and certainly not before Obummer’s re-election bid in 2012.


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10 responses to “Mortgage deduction on Obama’s chopping block?

  1. Retired IB'er

    As you say, I doubt it will happen, but it probably should…

  2. cos cobber

    if its chopped, it needs to be done over a 10 to 15 year period as a phase out.

  3. out looking in

    earth to Chris-

    two words- POLITICAL SUICIDE- these bozos are clueless- afraid of unions? how about 100 million homeowners..

  4. Pierre Bergé, Nom de Plume

    Oui, oui. I agree. What about estate taxes? If allowed to remain expired, sales of inherited modest houses with low cost bases will be subject to capital gains tax, while multi-billionaires like recent Texan can leave estates tax free to generations who never need go to work. Or do you call them “death taxes”?

  5. Walt

    Dude Man –
    Your bulb cannot be this dim. It is unpossible.
    You don’t understand why you want people to own vs. rent? And why the Government gets this? And you don’t? You load.
    Ownership gives you buy in, a sense of pride, a sense of roots and ownership. That is good for everyone. You really don’t see the logic in that, you seller of dirt? Does anyone write grafitti on a house they own and have an investment in?
    You want a carpetbagger or a gypsy society? Or worse, a bunch of camel jockey tent pitchers, who wander around and pull up stakes every day? Can I say camel jockey tent pitchers Dude? If not, have proof and post copy boy Hiram edit it out, and post the rest. It will give him a chubby. God knows he can use one. Not that he would know what to do with it.
    But I hope you get my point, because it really does matter, and goes to the fabric of what made this country great. Comprende, Clowny?
    Anyway, enough about how thick you are. What is up with this?
    Real, or tin foil hat stuff?
    Your Pal,

  6. Walt

    Dudester –
    Another way to look at it. Do you think you can rally a bunch of 20 year olds to go over seas to risk grave danger (is there any other kind? JACK!!! A Few Brave Men!!) to save their landlords apartment? Well do ya, Punk!! ( you know that one by now!!)
    But think about it, and mend your flawed thought process. Plus it will help you sell swamp land!!
    Your Pal,

  7. Gideon Fountain

    Goodness, who knew “Walt” could make even a vaguely convincing case for owning real estate? But the old (or is it young) fool is right. It is good for society to have as many property owners as possible. Should the government therefore subsidize it? No. Is the plan to eliminate the subsidy just another in an endless series of government money grabs? Yes.

  8. Fake Walt

    Holy merde! Pierre Bergé speaks Anglais

    Off to Royal Bafokeng Stadium

    Kind Regards,
    Fake Walt

  9. Walt

    Gridiron/Mini-Dude –
    The government shouldn’t subsidize anything, you dolt. That isn’t the point. They do, and they do it for a reason. I want all government subsidization..subsidiz.. I want all govenment support of private industry stopped. I also want to play center field for the Yanks. And if they stopped the mortgage deduction, housing prices would fall. Which means your commissions would drop. Assuming you still get any!!
    Your Pal,

  10. Anonymous

    haha, love gideon’s cognitive dissonance. his view is apparently that government shouldn’t subsidize home ownership, but eliminating the subsidy is bad. hmm.