ELIMINATE THE MORTGAGE INTEREST DEDUCTION??

Reblogger Wallace S. Gibson, CPM
Real Estate Broker/Owner with Gibson Management Group, Ltd.

 

This is a SCARY and OLD canard that has been around for decades and that this committee probably wrote down at the TOP of the FIRST PAGE of their list.  I think it is even being reported to stir up the "class warfare" just like the TOP WAGE EARNERS paying HIGHER TAXES when Bush tax cuts expire....

 

Original content by Lenn Harley 303829;0225082372

ELIMINATE THE MORTGAGE INTEREST DEDUCTION??

Be careful what you ask for!

I can point to the benefits of the mortgage interest deduction for many, many past home buyer clients.  That's a personal experience and many would say self-serving.  I'll accept that, but whom does that home purchase benefit in addition to the real estate broker and agent???

  • Home Owners Carpenter
  • Residential Developers
  • Residential Developers' Staff
  • Builders
  • Builders' Staff
  • Carpenters
  • Electricians
  • Plumbers
  • Landscapers
  • Garden Shops
  • Flooring Companies
  • Decorators
  • Appliance Manufacturors
  • Roofers
  • Brick Layers
  • Well Diggers
  • On-site Sewer Disposal Systems
  • Stone Masons
  • Heating and A/C CompaniesHome Inspector
  • Siding Companies
  • Concrete Companies
  • Home Inspectors
  • Municipal Code Inspectors
  • County Building Permits Staff
  • Zoning Staff
  • Lenders
  • Loan Officers
  • Mortgage Investors
  • And so many more. . . . . .

So, Congress, whose members never saw a dollar that they didn't want to put in their own pocket, sees that deduction as a solution to the U.S. fiscal problem.   The $Billions spend on pet projects that will benefit themselves and their families/friends and contributors directly have avoided becoming a target.  Any politician who would vote to eliminate the Home Mortgage Interest Deduction should be required to live in rentals. 

SHORT SIGHTED IN THE EXTREME! 

This post inspired by Would the Elimination of the Mortgage Interest Deduction Hurt the Housing Market?  by Tom Branch.

Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988.


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Rainmaker
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Roy Kelley
Retired Real Estate Broker, Maryland Blogger - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Good re-blog. Thanks for sharing.

 Blooming for you!

November 12, 2010 06:54 AM #1
Rainer
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Jon Budish
Resident Realty - Fort Collins, CO

I'm always amazed at the audacity of politicians who became millionaires on the back of taxpayers, and they criticize the "greedy rich", most of whom earned their wealth while paying their taxes.

November 12, 2010 10:24 AM #2
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Rainmaker
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Wallace S. Gibson, CPM

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