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View Diary: If you're 60 you don't have to worry... (56 comments)

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  •  Really good point about the threat to the (4+ / 0-)

    home mortgage deduction on top of everything else (not that they will actually admit that it's one of the "loopholes" they would have to cut in order to give huge tax cuts to the wealthy).   That deduction enabled me and my partner to afford to buy a house in an expensive city.   It provided stability for us and our kids as they grew up, and it will provide an additional safety net for us and our kids as we grow old.  Declaration of war indeed.  Thanks for your comment.

    •  Yup exactly. Urban homeowners are screwed. (3+ / 0-)
      Recommended by:
      kurt, Deejay Lyn, estreya

      Property in cities is naturally more expensive. There's less land to go around, so prices are higher. Higher prices = higher mortgages. The mortgage deduction is the only way I can afford to stay in my home.

      So let's say they get their way. I live in San Francisco. If I'm forced to sell, someone else who doesn't need a mortgage is going to buy my house. Guess what, that means that only the super rich (or rich foreign investors) can afford to own homes in cities. That pushes middle class and upper middle class homeowners out of their homes and into rentals, which displaces lower income renters.

      This dynamic is already been happening in San Francisco, where renters get pushed out of the city every year, except Romney/Ryan would make it even worse. Most of our teachers, EMTs, and first responders no longer live in the city and now live across a bridge. What happens when there's an earthquake and none of the people who are trained to save our asses can get here, because they're on the other side of a collapsed or backed up bridge?

      This election just got deeply personal for me. I'm so tired of hearing them pretend to stick up for people like me, homeowners and small business owners who have reached a decent level of success. They don't care about me in the slightest.

    •  home mortage deduction and child care deductions (1+ / 0-)
      Recommended by:
      Deejay Lyn

      are the TWO SPECIFICS that Romney mentioned in his debate, but he said 'em quietly, after the words Big Bird. But it's out there as his promise already. The Romney/Ryan plan DOES have specifics. They are just reticent to talk about them because they are OFFENSIVE and wrong.

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