Reply #109: odd thing is...there already is a cap on the deduction for the "rich" [View All]

[onenote]

Not sure exactly how "rich" -- but there is a formula in the 1040 Form that ends up reducing the amount that an individual can deduct. The article cited in the OP refers to it, indicating that high end taxpayers only can take 35 percent of the interest deduction. Not sure how limiting the loan size on which the deduction can be taken will really impact folks who are subject to the existing reduction (unless they apply both).

onenote