Ginto
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Tue Nov-30-10 12:05 PM
Response to Reply #67 |
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You just give your kids the house and they live in it. Unfortunately, the US culture is based on kids buying their own homes and most would never think about living in their parents home. In fact, many in the US will accept nothing less than a new home or insist on having one built.
So you are against the estate tax? Not sure what you are trying to say.
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| -If you think the housing market is bad now, it will crater - mortgage deduction next on list |
Liberal_in_LA |
Nov-29-10 06:00 PM |
#0 |
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It's like they are deliberately trying to |
ohheckyeah |
Nov-29-10 06:01 PM |
#1 |
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trying to? the mission is in full swing..wait until the next wave of foreclosures |
xiamiam |
Nov-29-10 06:44 PM |
#13 |
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it was all in the plans..what more proof do people need..to get slapped on the head and a wisper in |
flyarm |
Nov-29-10 08:35 PM |
#24 |
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Now hear this: The PLAN is to have the US worker earn the same as a Third-Worlder. That way, the |
WinkyDink |
Nov-30-10 12:16 PM |
#72 |
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I know. I can't believe the timing on this suggestion. n/t |
pnwmom |
Nov-29-10 06:02 PM |
#2 |
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I know. I can't believe the timing on this suggestion. n/t |
pnwmom |
Nov-29-10 06:02 PM |
#3 |
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Considered, by whom? |
Lil Missy |
Nov-29-10 06:07 PM |
#4 |
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By Obama and congress I guess. It was stated as 1 of the next targets after the pay freeze was |
Liberal_in_LA |
Nov-29-10 06:20 PM |
#8 |
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You guess??? Why post on something you don't know about. Your heard it on what radio show???? |
Pisces |
Nov-30-10 11:30 AM |
#60 |
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"heard on the radio" |
treestar |
Nov-29-10 10:56 PM |
#27 |
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Yes, that whole "Debt Commission" thing is just a figment |
bullwinkle428 |
Nov-30-10 09:53 AM |
#37 |
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The OP didn't say it was being considered by the "Debt Commission" |
Lil Missy |
Nov-30-10 10:39 AM |
#42 |
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Congress could place a cap on the deduction, so that only the wealthiest homeowners are affected |
slackmaster |
Nov-29-10 06:08 PM |
#5 |
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That is already addressed by the AMT.... |
WCGreen |
Nov-29-10 11:01 PM |
#29 |
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Only logical option. |
joshcryer |
Nov-30-10 04:22 PM |
#97 |
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Nixing mortgage Interest deductions.... |
Brother Buzz |
Nov-29-10 06:11 PM |
#6 |
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I heard a guy on the radio this morning |
sharp_stick |
Nov-29-10 06:17 PM |
#7 |
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Shhhhhhhhhhhh. |
MedicalAdmin |
Nov-30-10 11:02 AM |
#49 |
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Total elimination of the deduction won't happen. I can see the |
WestSeattle2 |
Nov-29-10 06:28 PM |
#9 |
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I wouldn't be terribly confident about that |
MadHound |
Nov-29-10 06:35 PM |
#10 |
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I doubt it. Too many people rely on that deduction for the rationale of home ownership. |
CTyankee |
Nov-29-10 06:53 PM |
#14 |
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I hope you are right about this, CTyankee. |
Tuesday Afternoon |
Nov-29-10 07:24 PM |
#15 |
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I guess you could "pick a number" so to speak and work the math backwards |
CTyankee |
Nov-30-10 09:09 AM |
#34 |
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What makes you think the banksters won't arrange for a total end to the home |
kestrel91316 |
Nov-30-10 10:52 AM |
#45 |
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+1 - of course it's a land grab. |
MedicalAdmin |
Nov-30-10 11:05 AM |
#51 |
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Yup. nt |
TBF |
Nov-30-10 12:22 PM |
#75 |
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Real estate sales excise taxes generate billions in revenue for |
WestSeattle2 |
Nov-30-10 09:29 PM |
#105 |
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Yes, I'm amazed there is one for second homes! |
treestar |
Nov-29-10 10:57 PM |
#28 |
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Lots of relatively small boats |
Gaedel |
Nov-30-10 04:34 PM |
#101 |
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That's insane. |
treestar |
Dec-01-10 12:07 AM |
#106 |
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Mebbeso, but it is the case nt |
Gaedel |
Dec-01-10 04:50 AM |
#107 |
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It needs to go |
notesdev |
Nov-29-10 06:39 PM |
#11 |
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boy oh boy |
lise |
Nov-29-10 11:04 PM |
#30 |
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The renter's 'deduction' is the extra rent s/he doesn't get charged |
Lance_Boyle |
Nov-30-10 11:01 AM |
#48 |
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This Is Why I Love My 80 YO Landlady & Hope She Sticks Around |
NashVegas |
Nov-30-10 12:24 PM |
#76 |
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Who does it benefit? |
joshcryer |
Nov-30-10 04:14 PM |
#92 |
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actually, |
lise |
Nov-30-10 07:52 PM |
#104 |
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It occurs to me that Canada does not have a mortgage deduction |
MedicalAdmin |
Nov-30-10 11:46 AM |
#64 |
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Yay! Then more property can be owned by the banks! |
WolverineDG |
Nov-30-10 11:06 AM |
#52 |
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The mortgage interest deduction doesn't hurt renters, and it may help them |
slackmaster |
Nov-30-10 12:18 PM |
#73 |
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Or profit more. |
joshcryer |
Nov-30-10 04:09 PM |
#91 |
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It depends on local market conditions. If there is a surplus of rentals available, prices go down. |
slackmaster |
Dec-01-10 10:20 AM |
#108 |
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The mortgage deduction goes primarily to the rich |
Scruffy1 |
Nov-30-10 04:39 PM |
#102 |
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I will just pay off the loan early |
bhcodem |
Nov-29-10 06:43 PM |
#12 |
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How nice for you. n/t |
Tuesday Afternoon |
Nov-29-10 07:24 PM |
#16 |
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lol. I'm a relatively new homeowner. losing the deduction would be a huge loss |
Liberal_in_LA |
Nov-29-10 07:28 PM |
#17 |
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hell..I just purchased. First payment is due Jan. 1... |
Tuesday Afternoon |
Nov-29-10 07:30 PM |
#18 |
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You'll love that deduction. Mine 1st year's deduction increase my take home by more than $500 month |
Liberal_in_LA |
Nov-29-10 08:03 PM |
#21 |
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sigh...yeah ...it is the first year that will be the killer. I have budgeted for that |
Tuesday Afternoon |
Nov-29-10 08:14 PM |
#22 |
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Right? |
Xenotime |
Nov-30-10 11:15 AM |
#55 |
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YES! |
lise |
Nov-29-10 11:12 PM |
#31 |
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The interest on $10000 is way under the standard deduction anyway. |
cemaphonic |
Nov-30-10 04:05 PM |
#90 |
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I don't know how this affects the poorest, but most lower middle class and |
Ilsa |
Nov-29-10 07:41 PM |
#19 |
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It will have an effect on middle class people in high cost/high income areas. |
Gormy Cuss |
Nov-29-10 07:52 PM |
#20 |
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I stopped itemizing last year. Standard deduction was more. |
Dr.Phool |
Nov-29-10 08:30 PM |
#23 |
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This middle middle class |
ohheckyeah |
Nov-29-10 10:10 PM |
#25 |
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the poorer you are |
lise |
Nov-29-10 11:24 PM |
#33 |
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More people will walk away. |
Dappleganger |
Nov-29-10 10:54 PM |
#26 |
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Won't happen so no use talking about it - |
lynne |
Nov-29-10 11:13 PM |
#32 |
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Won't happen because it would be good public policy |
Bragi |
Nov-30-10 09:21 AM |
#36 |
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Sorry, don't agree. Think it's horrid public policy that harms low to middle class persons - |
lynne |
Nov-30-10 12:07 PM |
#70 |
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I agree it won't happen due to politics |
Bragi |
Nov-30-10 01:20 PM |
#87 |
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Which is exactly what is / will happen. |
MedicalAdmin |
Nov-30-10 11:49 AM |
#65 |
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Would it not likely be phased in? |
Bragi |
Nov-30-10 09:18 AM |
#35 |
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It also encourages home ownership which is a good thing. |
Ginto |
Nov-30-10 10:49 AM |
#44 |
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I'm skeptical about the social benefits of home ownership |
Bragi |
Nov-30-10 11:15 AM |
#54 |
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I think of it as a savings account. |
Ginto |
Nov-30-10 11:22 AM |
#56 |
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You could do the same with any investment |
Bragi |
Nov-30-10 11:34 AM |
#61 |
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Different when you're forced to do it. |
Ginto |
Nov-30-10 11:37 AM |
#62 |
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And yet that doesn't happen here in the US. |
MedicalAdmin |
Nov-30-10 11:53 AM |
#67 |
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It's not that hard. |
Ginto |
Nov-30-10 12:05 PM |
#69 |
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Sorry, it's nothing like social security |
Bragi |
Nov-30-10 12:31 PM |
#79 |
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Desire to buy homes didn't cause the bubble. |
Ginto |
Nov-30-10 12:36 PM |
#80 |
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I understand you prefer houses to apartments |
Bragi |
Nov-30-10 12:45 PM |
#81 |
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But that is acceptable here on DU |
WolverineDG |
Nov-30-10 10:00 AM |
#38 |
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+1 |
Earth_First |
Nov-30-10 10:09 AM |
#39 |
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Canada doesn't allow home mortgage interest to be deducted |
JBoy |
Nov-30-10 10:15 AM |
#40 |
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Only if your mortgage is over 500000 dollars. |
tjwash |
Nov-30-10 10:29 AM |
#41 |
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Even in this shithole of a RE market in SoCal, $500k STILL won't get you |
kestrel91316 |
Nov-30-10 10:56 AM |
#46 |
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but, but, but, that's FAIR! |
uncle ray |
Nov-30-10 10:48 AM |
#43 |
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I think we should raise taxes on apartment rents to tackle the deficit. |
Ginto |
Nov-30-10 10:56 AM |
#47 |
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Is that a joke? |
Bragi |
Nov-30-10 11:23 AM |
#57 |
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Why shouldn't we raise taxes on rent in upscale neighborhoods? |
Ginto |
Nov-30-10 11:29 AM |
#59 |
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It's only "fair" to those who don't own property & are jealous of those who do |
WolverineDG |
Nov-30-10 11:02 AM |
#50 |
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No, it would more fair overall |
Bragi |
Nov-30-10 11:28 AM |
#58 |
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No it would mean more people would end up only being renters |
WolverineDG |
Nov-30-10 12:15 PM |
#71 |
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Not so |
Bragi |
Nov-30-10 12:53 PM |
#83 |
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they are not after all of the real estate, they are after all of the money. |
uncle ray |
Nov-30-10 01:02 PM |
#85 |
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which is what they will have when everyone has to rent & can't afford to own a home |
WolverineDG |
Nov-30-10 01:47 PM |
#88 |
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tricking people into buying is more lucrative than dealing with renters. |
uncle ray |
Nov-30-10 03:24 PM |
#89 |
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really? the "you're all just jealous" argument? |
uncle ray |
Nov-30-10 12:58 PM |
#84 |
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Could any Democrat actually support this attack on the middle class? |
Mimosa |
Nov-30-10 11:11 AM |
#53 |
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The mortgage interest deduction is regressive |
taught_me_patience |
Nov-30-10 11:42 AM |
#63 |
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It is a regressive tax, but it is helpful at tax time to many. |
MedicalAdmin |
Nov-30-10 11:56 AM |
#68 |
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Agreed, however... |
Bragi |
Nov-30-10 12:20 PM |
#74 |
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No, it's really not. |
joshcryer |
Nov-30-10 04:17 PM |
#94 |
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This doesn't surprise me greatly |
Bragi |
Nov-30-10 01:09 PM |
#86 |
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It's just loud DUers who have rental property. |
joshcryer |
Nov-30-10 04:16 PM |
#93 |
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I've never made enough to take this deduction, standard deduction gives me more |
uppityperson |
Nov-30-10 11:51 AM |
#66 |
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Along with the helpful(to most)mortgage deduction... |
hayu_lol |
Nov-30-10 12:31 PM |
#78 |
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Just heard on the tv. that this will never be touched. Tv trumps radio. |
Pisces |
Nov-30-10 12:30 PM |
#77 |
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Everyone's always for higher taxes for the other guy |
mainer |
Nov-30-10 12:52 PM |
#82 |
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I think people are just ignorant that the regressive tax benefits the rich more. |
joshcryer |
Nov-30-10 04:19 PM |
#95 |
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It's all part of the plan... |
JuniperLea |
Nov-30-10 04:19 PM |
#96 |
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It doesn't make sense for the government to promote real estate prices which don't match wages |
Romulox |
Nov-30-10 04:24 PM |
#98 |
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Is the Mortgage-Interest Deduction Really A Middle-Class Tax Break? |
joshcryer |
Nov-30-10 04:24 PM |
#99 |
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Who does the mortgage-interest deduction benefit? |
joshcryer |
Nov-30-10 04:25 PM |
#100 |
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Well, the news today is "It's Confirmed, The Housing Double Dip Is Here" |
OlympicBrian |
Nov-30-10 06:00 PM |
#103 |
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