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

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  •  How about adjsuting the caps? (5+ / 0-)

    Right now, there's a cap on the mortgage deduction so it only covers the first million dollars of debt (to buy the house, less for equity loans or when married filing separately). This could be lowered to $200k, or would that be class warfare?

    He would ... eliminate the estate tax
    Now there's something that flows almost entirely to the wealthy. Fiddle with the limits, but no way should you eliminate it.
    ... and end taxation of investment income for people making less than $200,000 a year.
    Or how about treat earned and unearned income the same, and end taxation of all of it below $200k? That might almost pay for itself in reduced paperwork.

    Why is there a Confederate Flag flying in Afghanistan?

    by chimpy on Wed Jun 20, 2012 at 09:57:35 AM PDT

    [ Parent ]

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