boutons_deux
12-20-2010, 01:36 PM
You guessed it (but maybe not. Sheeple and bubbas aren't very good guessers)
http://www.latimes.com/media/photo/2010-12/58369274.jpg
Tax deduction for mortgage interest could be on the chopping block
It's been around since 1913, but its time may be up. Such a change would generate billions of dollars in federal revenue that could be used to cut the deficit while inflicting little pain on most middle-class homeowners.
Perhaps the most sacred of all the sacred cows in the tax code, the home mortgage deduction has long been seen as crucial to a major element of the American dream — owning your own home.
It has also been a boon to home builders, construction workers, the financial services industry and local governments that benefited from fatter real estate tax revenue.
Save Up to 90%: Sign up for our free daily e-mail to get in on exclusive deals around L.A. Powered by Groupon. Subscribe Now.
But nearly a century after coming into existence, the mortgage deduction may face a day of reckoning. Although out of the spotlight while the lame-duck Congress thrashes to an end, the mortgage deduction issue is likely to resurface next year when the new Congress — including a lot more deficit-hawk Republicans — takes over.
http://www.latimes.com/business/la-fi-mortgage-deduction-20101220,0,2045559,full.story
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When this Repug "deficit reduction" hits us, will you guys STILL falsely think tax-cutting Barry is so bad?
.
http://www.latimes.com/media/photo/2010-12/58369274.jpg
Tax deduction for mortgage interest could be on the chopping block
It's been around since 1913, but its time may be up. Such a change would generate billions of dollars in federal revenue that could be used to cut the deficit while inflicting little pain on most middle-class homeowners.
Perhaps the most sacred of all the sacred cows in the tax code, the home mortgage deduction has long been seen as crucial to a major element of the American dream — owning your own home.
It has also been a boon to home builders, construction workers, the financial services industry and local governments that benefited from fatter real estate tax revenue.
Save Up to 90%: Sign up for our free daily e-mail to get in on exclusive deals around L.A. Powered by Groupon. Subscribe Now.
But nearly a century after coming into existence, the mortgage deduction may face a day of reckoning. Although out of the spotlight while the lame-duck Congress thrashes to an end, the mortgage deduction issue is likely to resurface next year when the new Congress — including a lot more deficit-hawk Republicans — takes over.
http://www.latimes.com/business/la-fi-mortgage-deduction-20101220,0,2045559,full.story
==============
When this Repug "deficit reduction" hits us, will you guys STILL falsely think tax-cutting Barry is so bad?
.