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In reply to the discussion: Mitt Romney suggests cutting mortgage interest deduction on eve of presidential debate [View all]Heather MC
(8,084 posts)76. I was just explaining to my DH
That Mitt is going after only Income earners. My DH said all money made is income. I had to explain in Mitts World Money made in the stock market is not income and therefore taxed differently and would not be subject to deduction limitations. My DH thought our deductions didn't come anywhere near 17k. until I explain Mitt intends to include the Mort Int. deduction. Then he said but wait a minute we wouldn't be able to write off any of our charitable donations, or business expenses. then it hit him. he said oh no this Guy would really screw us over.
It took a second but my DH got it. This deduction limitation is a very very very bad plan, for those of us living just above the bottom and barely hitting the middle
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Mitt Romney suggests cutting mortgage interest deduction on eve of presidential debate [View all]
Faygo Kid
Oct 2012
OP
They won't be taxed because if you don't know about them you won't report them.
Kablooie
Oct 2012
#95
I feel like throwing up... I'm sorry, this is devastating to middle income people....
NotThisTime
Oct 2012
#83
for those self employed- even more devastating is his cutting the health care deduction
graham4anything
Oct 2012
#24
more proof Mittens is off his rocker - seemed that way when he went off on his boat on Labor Day
wordpix
Oct 2012
#28
if you are purchasing a home, you get a deduction for your mortgage interest but the "bucket" thing
wordpix
Oct 2012
#61
bad enough the repubs hosed us by taking our Consumer Interest deduction away...
progressivebydesign
Oct 2012
#41
Tone deaf as always. We in the bottom of the middle need to keep above water.
SleeplessinSoCal
Oct 2012
#42
Move over Spain, here comes America. We want the worst economy and most de-funded people so we
RKP5637
Oct 2012
#51
Guy with wife with deductible horse hobby, wants to screw the large families holding mortgages
HereSince1628
Oct 2012
#54