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The economy-wrecking regressive mortgage tax deduction was preserved though, which shows that the tax reform was mainly a cheap abuse of the government to attac
by hopler 8y ago
The economy-wrecking regressive mortgage tax deduction was preserved though, which shows that the tax reform was mainly a cheap abuse of the government to attack blue states for voting Democrat.
- gok 8y agoAgreed; the mortgage interest deduction is stupid (although wildly popular, unfortunately)
- sokoloff 8y agoI’m not sure it’s stupid. It puts owner occupied housing on (nearly) equal footing with landlord-owned property with respect to deductibility of mortgage interest. Disclaimer: yea, I use it, so of course I’m somewhat biased to think it’s not stupid.
- toast0 8y agoMost 'regular' people would itemize if their mortgage interest + SALT + whatever random things were bigger than the standard deduction. Under the new rules, SALT + mortgage interest is unlikely to be close to the standard deduction. I expect the amount of mortgage interest deduction in tax year 2018 to be much smaller than tax year 2017.