 |
bostonbubble.com
Boston Bubble - Boston Real Estate Analysis
|
|
SPONSORED LINKS
Advertise on Boston Bubble
Buyer brokers and motivated
sellers, reach potential buyers.
www.bostonbubble.com
YOUR AD HERE
|
|
DISCLAIMER: The information provided on this website and in the
associated forums comes with ABSOLUTELY NO WARRANTY, expressed
or implied. You assume all risk for your own use of the information
provided as the accuracy of the information is in no way guaranteed.
As always, cross check information that you would deem useful against
multiple, reliable, independent resources. The opinions expressed
belong to the individual authors and not necessarily to other parties.
|
| View previous topic :: View next topic |
| Author |
Message |
Phil O. Math
Guest
|
 Posted: Sat Apr 07, 2007 6:21 pm GMT Post subject: Is the deductibility of mortgage interest 'regressive'? |
 |
|
Does anyone else see that it is unfair to allow the deductibility of mortgage interest? Does anyone else see that this is effectively a regressive tax?
You can deduct mortgage interest on any home up to $1M and you can deduct the interest on a home equity loan up to $100K. So the guy who has a $250k annual salary can deduct the mortgage interest on his million-dollar Back Bay condo. He can also take out a home equity loan to buy a Porche SUV and he can deduct the interest he pays on the loan.
Let's say I am a normal person with an annual income of $50k who doesn't have a mortgage or home equity loan. I pay income tax on my $50k and some of that is paid to Mr. $250k in his tax refund.
Does anyone see how unfair this is? Does the electorate not care about fairness and equity? |
|
| Back to top |
|
 |
|
|
You can post new topics in this forum
You can reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
|
Forum posts are owned by the original posters.
Forum boards are Copyright 2005 - present, bostonbubble.com.
Privacy policy in effect.
Powered by phpBB © 2001, 2005 phpBB Group
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
