You can deduct for taxes purposes only if you have income to deduct from. I'm sure a lot of people who stretched to get into homes (or used equity from previous homes) don't have the income to fully benefit from the incremental between standard deduction and itemnization.
jepsd, i also love how you put it. How about this: give me $1 today, and I may give you 30c back next April, but only if you have a job. If you're unemployed, i'm keeping the whole amount.
