The case for ending housing finance subsidies

[eavesdropper]

[quote=KIBU] For this, perhaps if we vote more tea party candidates into congress, they will follow thru with this. They are pretty good at cutting anything.[/quote]

What gets me is that everything they cut affects the middle class. They refuse to do anything that would negatively affect the rich or wealthy corporations. Blows my mind!

In the meantime, some of the more “restrained” Republicans have come up with plans that cut across the board AND raise taxes. Cuts are deep, but they affect everything and everyone. But these guys have ended up being abused by the Tea Party congressional crew, and the middle class voters who put them there…..Crazy!!

[SK in CV]

[quote=FormerSanDiegan][quote=captcha]I was under impression that all interest used to be deductible. If that is the case the current deduction is really not a subsidy, but money not confiscated by the government. Yet.

And low-income renters do get some breaks like Section 8 and renter’s tax credit in some states (including CA).[/quote]

captcha is correct. Interest on credit cards and installment loans (e.g. car loans, furtniture loans, etc) were deductible before 1986 tax reform.
[/quote]

Yeah, he’s right on the first sentence. The second sentence is a logical fallacy of some sort. I’m not sure which kind. It makes no sense whatsoever.

[SK in CV]

[quote=FormerSanDiegan][quote=captcha]I was under impression that all interest used to be deductible. If that is the case the current deduction is really not a subsidy, but money not confiscated by the government. Yet.

And low-income renters do get some breaks like Section 8 and renter’s tax credit in some states (including CA).[/quote]

captcha is correct. Interest on credit cards and installment loans (e.g. car loans, furtniture loans, etc) were deductible before 1986 tax reform.
[/quote]

Yeah, he’s right on the first sentence. The second sentence is a logical fallacy of some sort. I’m not sure which kind. It makes no sense whatsoever.

[SK in CV]

[quote=FormerSanDiegan][quote=captcha]I was under impression that all interest used to be deductible. If that is the case the current deduction is really not a subsidy, but money not confiscated by the government. Yet.

And low-income renters do get some breaks like Section 8 and renter’s tax credit in some states (including CA).[/quote]

captcha is correct. Interest on credit cards and installment loans (e.g. car loans, furtniture loans, etc) were deductible before 1986 tax reform.
[/quote]

Yeah, he’s right on the first sentence. The second sentence is a logical fallacy of some sort. I’m not sure which kind. It makes no sense whatsoever.

[SK in CV]

[quote=FormerSanDiegan][quote=captcha]I was under impression that all interest used to be deductible. If that is the case the current deduction is really not a subsidy, but money not confiscated by the government. Yet.

And low-income renters do get some breaks like Section 8 and renter’s tax credit in some states (including CA).[/quote]

captcha is correct. Interest on credit cards and installment loans (e.g. car loans, furtniture loans, etc) were deductible before 1986 tax reform.
[/quote]

Yeah, he’s right on the first sentence. The second sentence is a logical fallacy of some sort. I’m not sure which kind. It makes no sense whatsoever.

[SK in CV]

[quote=FormerSanDiegan][quote=captcha]I was under impression that all interest used to be deductible. If that is the case the current deduction is really not a subsidy, but money not confiscated by the government. Yet.

And low-income renters do get some breaks like Section 8 and renter’s tax credit in some states (including CA).[/quote]

captcha is correct. Interest on credit cards and installment loans (e.g. car loans, furtniture loans, etc) were deductible before 1986 tax reform.
[/quote]

Yeah, he’s right on the first sentence. The second sentence is a logical fallacy of some sort. I’m not sure which kind. It makes no sense whatsoever.

[jpinpb]

[quote=KIBU]Agreed that they want to cut the mortgage interest tax deduction.

But how are they going to do that without triggering another housing collapse which may trigger another recession???

For this, perhaps if we vote more tea party candidates into congress, they will follow thru with this. They are pretty good at cutting anything.[/quote]

They could at least eliminate it for people who own multiple properties. That wouldn’t trigger a housing collapse. It wouldn’t boost it. It would just drag things out more, but at the same time, the government would get money.

[jpinpb]

[quote=KIBU]Agreed that they want to cut the mortgage interest tax deduction.

But how are they going to do that without triggering another housing collapse which may trigger another recession???

For this, perhaps if we vote more tea party candidates into congress, they will follow thru with this. They are pretty good at cutting anything.[/quote]

They could at least eliminate it for people who own multiple properties. That wouldn’t trigger a housing collapse. It wouldn’t boost it. It would just drag things out more, but at the same time, the government would get money.

[jpinpb]

[quote=KIBU]Agreed that they want to cut the mortgage interest tax deduction.

But how are they going to do that without triggering another housing collapse which may trigger another recession???

For this, perhaps if we vote more tea party candidates into congress, they will follow thru with this. They are pretty good at cutting anything.[/quote]

They could at least eliminate it for people who own multiple properties. That wouldn’t trigger a housing collapse. It wouldn’t boost it. It would just drag things out more, but at the same time, the government would get money.

[jpinpb]

[quote=KIBU]Agreed that they want to cut the mortgage interest tax deduction.

But how are they going to do that without triggering another housing collapse which may trigger another recession???

For this, perhaps if we vote more tea party candidates into congress, they will follow thru with this. They are pretty good at cutting anything.[/quote]

They could at least eliminate it for people who own multiple properties. That wouldn’t trigger a housing collapse. It wouldn’t boost it. It would just drag things out more, but at the same time, the government would get money.

[jpinpb]

[quote=KIBU]Agreed that they want to cut the mortgage interest tax deduction.

But how are they going to do that without triggering another housing collapse which may trigger another recession???

For this, perhaps if we vote more tea party candidates into congress, they will follow thru with this. They are pretty good at cutting anything.[/quote]

They could at least eliminate it for people who own multiple properties. That wouldn’t trigger a housing collapse. It wouldn’t boost it. It would just drag things out more, but at the same time, the government would get money.

[Paul0373]

Wrong kibu. Since this is reducing taxation for a segment of the population, most tea party people would support it. Wouldn’t you agree?

[Paul0373]

Wrong kibu. Since this is reducing taxation for a segment of the population, most tea party people would support it. Wouldn’t you agree?

[Paul0373]

Wrong kibu. Since this is reducing taxation for a segment of the population, most tea party people would support it. Wouldn’t you agree?

[Paul0373]

Wrong kibu. Since this is reducing taxation for a segment of the population, most tea party people would support it. Wouldn’t you agree?

[Author]

Posts