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Message
re: Elizabeth Warren's Answer For Student Loan Debt - Tax Rich People
Posted on 8/25/14 at 6:51 am to cjared036
Posted on 8/25/14 at 6:51 am to cjared036
quote:
The rich take out mortgages to take advantage of the mortgage interest deduction. Even though they could easily buy their house(s) in cash.
I don't think you really understand why the wealthy do this if you are saying it is solely for the tax deduction.....
2
Posted on 8/25/14 at 6:56 am to ironsides
quote:
I don't think you really understand why the wealthy do this if you are saying it is solely for the tax deduction.....
This was my first thought as well. Clearly he's never owned Real Estate.
Posted on 8/25/14 at 7:07 am to ironsides
Yeah I know they use mortgages to also have more $ for investment. But they also take advantage of the deductions. If you were to take that away I am willing to bet good money the use of mortgages by the rich will fall.
My lecturing is not any different from those that are against any kind of relief.
My lecturing is not any different from those that are against any kind of relief.
This post was edited on 8/25/14 at 7:23 am
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