Reply #19: Again, I fail to see your point [View All]

[berni_mccoy]

I pay interest on a mortgage, and I certainly see a difference in my tax return when I include the interest I pay. So I would disagree with your point that it 'disappears.' That could happen for some people, but not the majority. How the deduction affects your day-to-day affordability depends on your unique finances.

No one here is looking to hurt the middle class (or ANYONE for that matter). What is being said is that the ADMIN is trying to TAKE from the NON-WEALTHY and GIVE to the WEALTHY.

I agree, 300K IS A STARTER HOME PRICE IN MANY AREAS (especially CA and New England). And if people can't use the interest deduction, guess what will happen? PEOPLE WILL NOT BUY HOUSES. That in turn will have an impact on the housing market. I don't disagree that it will create a lot of homeless.