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View Diary: Romney's Plan Would End Mortgage Interest Deduction (131 comments)

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  •  Beside the point but the interest deduction (9+ / 0-)

    was always bad policy. Home ownership rates in other countries without the deduction are similar to that of the USA. But, of all the reasons one might want to ditch that deduction, Romney's is about the worst.

    The universe may have a meaning and a purpose, but it may just specifically not include you.

    by Anne Elk on Wed Jun 20, 2012 at 08:36:43 AM PDT

    •  You can only claim the deduction if (5+ / 0-)

      you itemize your deductions. I've only been able to do that a few times. In my circumstances, the standard deduction is most often higher than all the deductions I can scrape together.

      I think that the mortgage interest deduction pushes people into spending more on housing, they use it as part of the calculation as to how much they can afford. I've always been conservative when it comes to personal finances.

      To eliminate this deduction would take years if done prudently. To pull it outright would be disastrous.

      •  Yep. I haven't once been (2+ / 0-)
        Recommended by:
        TomP, mmacdDE

        able to itemize in 6 years of home ownership. I'm not complaining though, as it stems from living somewhere in which I can afford a nice house in a safe neighborhood on one middle-class income.

        You are reading my signature line. #hashtag

        by cardinal on Wed Jun 20, 2012 at 09:48:27 AM PDT

        [ Parent ]

    •  citiations? sources? (0+ / 0-)
      Home ownership rates in other countries without the deduction are similar to that of the USA.
      Not buying it without good sourcing. Sorry, your commentary is suspect.

      Both parties are beholden to their corporate sponsors. The Democratic Party deigns to throw us a few bones from the table on which to gnaw and squabble over, but it's just kabuki.

      by ozsea1 on Wed Jun 20, 2012 at 10:27:57 AM PDT

      [ Parent ]

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