- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Mortgage Interest Deduction in danger....
Posted on 7/11/13 at 10:06 am to LSURussian
Posted on 7/11/13 at 10:06 am to LSURussian
quote:
This is our real disagreement.
Yes i know
quote:
Any increase in the value of housing related to the mortgage deduction is a market distortion via a government subsidy, IMO.
Since the early 1900's
Even if you are correct, the forced market correction effect would be larger than anyone thinks. Sustainability of that negative reaction could be argued but is pointless. Any change ripple in the already fragile artificially affected housing market could be very bad.
Imagine a phase out of the deduction along with 8+% rising rates = terrible stagnation at the least.
I cant support it. What i can support is an across the board fair tax to replace the system we have.
This post was edited on 7/11/13 at 10:07 am
1
Posted on 7/11/13 at 10:14 am to MoreOrLes
quote:Huh?
Since the early 1900's
quote:That has not been the case in other countries.
Even if you are correct, the forced market correction effect would be larger than anyone thinks.
Most developed countries do not have a home mortgage interest deduction and their housing market has not suffered from it. In fact, only the Netherlands, Switzerland and the U.S. allow a full deduction for home mortgage interest.
I'm certainly not advocating dropping the mortgage deduction just to increase income tax collections. I would favor dropping the marginal tax rates to offset the increase in taxes collected resulting from abolishing the mortgage deduction. That alone would probably offset any negative effects on the housing market and would remove a market distortion.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News