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On Mon, 25 Jul 2011 09:28:37 -0600, Canuck57
wrote:

On 25/07/2011 7:19 AM, Florida Jim wrote:
On 7/25/2011 1:21 AM, wrote:
On Sun, 24 Jul 2011 19:06:12 -0600,
wrote:

On 24/07/2011 6:22 PM, wrote:
On Sun, 24 Jul 2011 15:01:48 -0600,
wrote:

On 24/07/2011 12:43 PM, John H wrote:
On Sun, 24 Jul 2011 10:47:58 -0400, Wayne
wrote:

On Sun, 24 Jul 2011 06:15:23 -0700 (PDT), John H
wrote:

Eliminate all mortgage interest deductions. That'll do it better.

At least it would be fair across the board. Might not be popular
and
might have a somewhat detrimental impact on the housing market. It
would probably help the rental market though.
===========

Home ownership has always been part of the American dream and the
interest rate deduction is a tacit reaffirmation of that goal.
Without question home ownership leads to a more stable
citizenship and
increased two parent family formation. Those were worthwhile
goals at
the time and still are.
I'm not knocking home ownership. I think it's great. But, if the
mortgage interest deduction were
removed, I still think people would want to buy a home. I don't
think that would change. However,
for many people, the cost would have to come down far enough to
offset the lack of the interest
deduction.
They do in Canada. In fact, the wealthiest Canadians I know all have
their homes free and clear of debt for some time. After your last
mortgage payment, you begin to pay yourself to live in your own home.
Real wealth builder strategy.
Too bad you're not one of them. In any case, this has little to do
with the US model that's been around for quite a while.
Even if you are in the US, it still makes sense to pay your house off.
Sure, some of the interest is recoverable as a tax deduction, but what
about the 70% you just gave to the bank? Once paid off, sure, you don't
get the deduction, but you don't ave to make any payments either.

Typical fleabagger math, give banks $1 so you can get at most, 30% back.
Real stupid, you 70 cents short.
Please show us where anyone would claim differently. As usual, you
don't have a clue.
What! You give the bank $1 and the Government gives you $.3 for donating
to the bank. No wonder the Government is going broke. Write your
congressman and ask him to repeal the silly law that legalizes this
insanity.

I think insanity is already legalized. Bernanke/Obama keep doing the
same thing (more debt and fraud money) and somehow expect different results.

Oh, you mean eliminate the insanity of carrying a mortgage just because
it is tax deductible. You make too much sense for government.

See, government's motto is to enslave people with debt and taxes for
statism. Modern day slavery. You have to sell people on debt and tax
by appealing to their envy and greed of others. Yet people who
subscribe to debt and taxation slavery end up with their hopes drowned
in their greed.

Like the 100,000 homeless vets in California. They gave themselves for
the country yet the government ignores their needs. 1.5 million kids in
homeless tent families and DC doesn't get it. Sexier to victimize some
other small country and bomb the crap out of them. Big spend war
mongering machine.

Few might not realize this but the war machine is a defunct money
grabbing wealth consuming appendix. It is based on the premises of a WW
II like scenario for WW III. When in fact WW III is going to be quite
different. It will be biological or hand-to-hand in the streets. 11
aircraft carriers, 250 F22s and 500 F35s is hardly useful. Ya, sure,
some are needed but this is big overkill.

Big inefficient government and US-Euro-IMF banking cartels have
basically conspired to screw the people for their green in a world
statism. And it is failing bad.

I am just waiting for a revolt. Say a million angry people march DC.
But that is why the government wants more debt, they fear that day.

I think you and stupid have a lot in common.

Feel free to keep waiting. We'd be happy to give you a call when it's
safe to come out of your hole in the ground.

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