You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

As I was saying about the home mortgage interest deduction.... [View All]

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
Home » Discuss » General Discussion Donate to DU
No Elephants Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-28-12 12:03 PM
Original message
As I was saying about the home mortgage interest deduction....
Advertisements [?]
Edited on Wed Nov-28-12 12:13 PM by No Elephants
The other day I posted that eliminating the tax deduction for mortgage interest would only hurt our economy, which is consumer-driven.

Today, I saw a story about someone who wants to use eminent domain to help out people with underwater mortggages. http://www.reuters.com/video/2012/11/23/reuters-tv-a-wa...

That led me to google the deduction. I immediately got this tidbit from wiki:

France does not allow a home mortgage interest deduction. In 2007, newly-elected President Nicolas Sarkozy proposed creating the deduction as part of his legislative plan for sparking the French economy.



http://en.wikipedia.org/wiki/Home_mortgage_interest_ded...


So, France, which has never had the deduction, proposes to institute it in order to boost its bad economy, while the U.S., which has had the deduction for a long time, really thinks eliminating the deduction will somehow help its ailing, consumer-driven economy?

:wtf:




Eliminating the home mortgage deduction is not about fixing our current economic mess. Rather, it's something that the plutocrats have been after for a long time. It's another damnable bailout/transfer of wealth in the wrong direction, namely from the 99% to the 1%.

Africkin'gain.

People who own businesses have a slew of deductions. People who earn a salary have very few, unless they have a home mortgage.

So, let's keep all the business deductions. What the hell, let's add even more. After all, the job creators deserve them, right? But, let's eliminate the home mortgage interest deduction.

Eliminating the home mortgage brings in more revenue to government from the little guys and gals.

The more that comes into government from the little guys and gals, the less pressure there is to increase taxes on the big guys and gals.

And, lord knows the last thing America needs is making the 1% pay income taxes.
Refresh | +2 Recommendations Printer Friendly | Permalink | Reply | Top
 

Home » Discuss » General Discussion Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC