On Sun, 24 Jul 2011 09:32:33 -0400, Florida Jim wrote:

On 7/24/2011 9:12 AM, John H wrote:
On Jul 23, 8:58 pm, wrote:
On 7/23/11 7:55 PM, LilAbner wrote:

On 7/23/2011 7:45 PM, John H wrote:
http://tinyurl.com/3r5l8ur
I wonder if the Democrats realize that it doesn't take a 'yacht' to
have a head, stove, and bed.
Hell, I had that in my 21' Proline.
If they want to do away with a second home mortgage interest
deduction, then do it for *all* second
homes.
All boats and all second homes over a certain value...that'll do it.
Why not *any* qualified second home?

Why give mortgage interest deductions at all? Before you know it renters
will want deductions too, and section 8, and why just a second home?
some poor folks have multiple homes. What about those folks that have 0
interest loans. It's not fair that they don't get a deduction.

That's not the point of this discussion, but it is a good point. I'd have no problem with taking
away the mortgage interest deduction, if they grandfathered, somehow, those who bought their homes
with that deduction as part of their ability-to-pay calculation. My daughter couldn't afford to stay
in her house without the mortgage interest deduction, for example.

If a person has a zero-interest mortgage, then they weren't planning on the deduction in their
ability-to-pay calculations.

Why just a second home? Maybe even the rich congressfolk that dreamed up the deduction couldn't go
so far as to make it available for their sixth home, or whatever.