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Started By
Message
Should mortgage interest be tax deductible?
Posted on 12/6/25 at 2:53 pm
Posted on 12/6/25 at 2:53 pm
Why is the interest on mortgage loans tax deductible and not other types of loans?
20
Posted on 12/6/25 at 2:58 pm to weagle1999
Trump just announced he was going to make interest payments on car loans deductible.
Posted on 12/6/25 at 3:05 pm to weagle1999
Yes.
Posted on 12/6/25 at 3:10 pm to weagle1999
quote:
Why is the interest on mortgage loans tax deductible and not other types of loans?
To incentivize home ownership
Posted on 12/6/25 at 3:11 pm to weagle1999
I believe it is now if you have enough itemized deductions to exceed standard deduction.
Posted on 12/6/25 at 3:12 pm to Ostrich
quote:
To incentivize home ownership
We should let the market sort it out without government provocation
Posted on 12/6/25 at 3:13 pm to weagle1999
You are already taxed on the money when you earn it.
Then you are taxed again at the point of sale.
Then you are taxed in perpetuity just for owning the home.
How many times do you think the gov’t should be able to tax the same dollar?
Then you are taxed again at the point of sale.
Then you are taxed in perpetuity just for owning the home.
How many times do you think the gov’t should be able to tax the same dollar?
Posted on 12/6/25 at 3:22 pm to weagle1999
Because America is racist.
Liberals, probably.
Liberals, probably.
Posted on 12/6/25 at 3:26 pm to weagle1999
To encourage home ownership, which is good for the economy.
Why would anyone question the rare tax break that regular people can get?
Why would anyone question the rare tax break that regular people can get?
Posted on 12/6/25 at 3:28 pm to weagle1999
Isn’t interest on mortgage only deductible if you itemize your taxes vs standard rate? I think I’ve been taking standard rate since 2019 or so…
Someone explain this
Someone explain this
Posted on 12/6/25 at 3:30 pm to BearCrocs
Yeah, when the standard deduction went up a few years ago, it made the mortgage interest deduction inapplicable for most people as they could not itemize as much as they could get with the standard deduction.
This post was edited on 12/6/25 at 3:31 pm
Posted on 12/6/25 at 3:36 pm to weagle1999
Yes
Posted on 12/6/25 at 3:46 pm to weagle1999
before 1986 it was all interest was deductible
Posted on 12/6/25 at 3:58 pm to Bjorn Cyborg
Communists like the OP don’t believe in private ownership of property. They hate property rights.
Posted on 12/6/25 at 4:02 pm to boosiebadazz
quote:
Yeah, when the standard deduction went up a few years ago, it made the mortgage interest deduction inapplicable for most people as they could not itemize as much as they could get with the standard deduction.
This is wrong. And a talking point the media peddled.
The itemization rules did not change. Instead the deduction went up such that many people no longer had a reason to itemize since they got more savings with the increased standard deduction.
Personally I still itemize because I usually have unreimbursed business expenses that I can claim along with my SALT and mortgage interest that put me above the standard deduction.
Posted on 12/6/25 at 4:04 pm to Bjorn Cyborg
quote:
Why would anyone question the rare tax break that regular people can get?
Democrats who want your money to pay for their free housing.
Posted on 12/6/25 at 4:05 pm to SlowFlowPro
quote:
We should let the market sort it out without government provocation
I don’t agree or disagree, just answering the question.
Posted on 12/6/25 at 4:07 pm to SlowFlowPro
quote:
SlowFlowPro
so pure!
Posted on 12/6/25 at 4:07 pm to Rebel
quote:As long as we have criminals (police). idiots catching their homes on fire (fire department), roads to drive on (DOTs), and public schools. Whether it's property taxes or some other method, someone has to pay for the above. Would you rather it be a federal tax and let them decide how everyone has the same school system or would you rather keep that local?
How many times do you think the gov’t should be able to tax the same dollar?
Posted on 12/6/25 at 4:08 pm to Ostrich
quote:
To benefit rich people and corporations who buy large amounts of property with the bank's money
FIFY
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