"Canuck57" wrote in message
...
On 12/06/2010 12:11 PM, nom=de=plume wrote:

wrote in message
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On Sat, 12 Jun 2010 09:37:25 -0600, Canuck57
wrote:

On deduction that should be phased out is mortgage tax deductability as
you get older. Say at 20 you get the full benefit, but as you get older
say to 50 it disappears. Encouraging people to have their homes 100%
paid for in due time. That is, reduce mortgage deductabiltiy
encouraging equity in the home.

So when the economy tiffs, they are less likely to toss the keys to the
repo man. And be in a hell of a lot better position for retirement.
But this would be progressive and will not happen as the US economy is
now built on debt that is going delinquent.

The other deduction that should go is the "2d home" mortgage
deduction. That is what fueled the "want house" market at the expense
of the taxpayer.

The first is just politically impossible. The second isn't a bad idea,
but it is also highly unlikely. It goes right back to if someone has it,
they don't want to give it up. How do you plan on forcing people to give
up these deductions?

Pretty easy actually. You being a massive debtor and all, you are
exposed.

--
Taxation, modern day slavery. The loss of economic freedom.

You're an idiot. You being an idiot doesn't help your situation.