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View Poll Results: Replace?
Yes, replace and exchange 4 25.00%
No, do not replace and exchange 3 18.75%
No; get rid of it with nothing in exchange 8 50.00%
I don't know 1 6.25%
Voters: 16. You may not vote on this poll

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Old 09-21-2012, 04:57 PM  
La literatura La literatura is offline
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Home Mortgage Interest Deduction

Would it be better to get rid of the mortgage interest deduction and replace it with a lowered rate deduction?
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Old 09-21-2012, 07:37 PM   #16
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Entitlement spending is 70% of the budget spending. ****ing around with the other 30% isn't going to fix shit.
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Old 09-21-2012, 07:41 PM   #17
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Quote:
Originally Posted by Brock View Post
Owning a home is already a giant pain in the ass, and people want to take away one of the few positive aspects?
If the deduction had never existed, I think housing prices would be much lower. So you've still have the pains, but you would've paid 40 percent less for the house, or some such amount, which would in turn save a ton of interest that might be as much or more as the deduction.

At least, that's my theory. The deduction makes home ownership cheaper than it ordinarily would, and that has to have some sort of impact on the market. It seems to me that along the line the various middlemen take advantage of that to up their profit, with prices passed along to the buyer. It's hard for me to believe that the big banks haven't figured out some way to skim off part of that massive amount of market intervention.
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Old 09-21-2012, 07:43 PM   #18
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Entitlement spending is 70% of the budget spending. ****ing around with the other 30% isn't going to fix shit.
I saw something the other day that I thought was a good point. Social Security and Medicare shouldn't be lumped in with the rest of government. They're independent programs that are independently funded with the premise that people are merely getting back what they paid in (minus some social engineering).

It seems to me that we should have three sets of books for the federal government: social security, medicare/medicaid, and "the federal government".
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Old 09-21-2012, 08:32 PM   #19
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Quote:
Originally Posted by Rain Man View Post
If the deduction had never existed, I think housing prices would be much lower. So you've still have the pains, but you would've paid 40 percent less for the house, or some such amount, which would in turn save a ton of interest that might be as much or more as the deduction.
You think there's 40 percent profit in building a house? Maybe in some places where things are artificially more expensive like California. It definitely doesn't hold true here. Gross profit of 20 percent is a vain hope around here.
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Old 09-21-2012, 09:22 PM   #20
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Quote:
Originally Posted by Literature View Post
Life is complicated. We need a complicated tax code to go with it. But if we did get rid of all credits and deductions, what would you think a good tax rate schedule would be?
No we don't need it to be complicated. We should not be using the tax code to modify behavior.

I don't know what the exact rates should be, but if all the nonsense were thrown out the statutory rates would be significantly lower than what they are today.
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Old 09-21-2012, 09:58 PM   #21
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Life is complicated. We need a complicated tax code to go with it. But if we did get rid of all credits and deductions, what would you think a good tax rate schedule would be?
Life isn't fair. We need a really unfair tax code to go along with it.
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Colon is 0.7 WAR or 5M in value. He makes 500k. Getting pretty close, and since he's producing war each of the next 4 years of club control, he's fair value for Upton straight up. More than fair actually.
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Old 09-21-2012, 09:59 PM   #22
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Quote:
Originally Posted by Rain Man View Post
I saw something the other day that I thought was a good point. Social Security and Medicare shouldn't be lumped in with the rest of government. They're independent programs that are independently funded with the premise that people are merely getting back what they paid in (minus some social engineering).

It seems to me that we should have three sets of books for the federal government: social security, medicare/medicaid, and "the federal government".
Then make those accounts individual accounts and be done with it. If people truly are "getting out what they put in" then just put it in each person's name.
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Old 09-21-2012, 10:09 PM   #23
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Quote:
Originally Posted by Saul Badguy View Post
Life isn't fair. We need a really unfair tax code to go along with it.
We need a tax code that follows life. The tax code currently just follows business innovations.
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Old 09-21-2012, 10:12 PM   #24
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Quote:
Originally Posted by Literature View Post
We need a tax code that follows life. The tax code currently just follows business innovations.
Is this true of all laws, or is it a phenomenon unique to the tax code?
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Originally Posted by Prison Bitch View Post
Colon is 0.7 WAR or 5M in value. He makes 500k. Getting pretty close, and since he's producing war each of the next 4 years of club control, he's fair value for Upton straight up. More than fair actually.
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Old 09-21-2012, 10:17 PM   #25
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Originally Posted by Saul Badguy View Post
Is this true of all laws, or is it a phenomenon unique to the tax code?
Is it true that laws follow business innovations?
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Old 09-21-2012, 10:25 PM   #26
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We need a tax code that follows life. The tax code currently just follows business innovations.
Good. More proof you are a complete moron. A tax code that follows life. This has potential.
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Old 09-21-2012, 10:25 PM   #27
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Originally Posted by Literature View Post
Is it true that laws follow business innovations?
Is it true that laws should follow life? Should the speed limit be higher for high performance cars with better handling?
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Originally Posted by Prison Bitch View Post
Colon is 0.7 WAR or 5M in value. He makes 500k. Getting pretty close, and since he's producing war each of the next 4 years of club control, he's fair value for Upton straight up. More than fair actually.
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Old 09-21-2012, 10:26 PM   #28
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Originally Posted by HonestChieffan View Post
Good. More proof you are a complete moron. A tax code that follows life. This has potential.
He'll post that while bitching about what Romney legally pays.
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Quote:
Originally Posted by Prison Bitch View Post
Colon is 0.7 WAR or 5M in value. He makes 500k. Getting pretty close, and since he's producing war each of the next 4 years of club control, he's fair value for Upton straight up. More than fair actually.
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Old 09-21-2012, 10:51 PM   #29
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Quote:
Originally Posted by Saul Badguy View Post
Is it true that laws should follow life? Should the speed limit be higher for high performance cars with better handling?
Yes, laws should follow life. I don't understand your hypothetical. Can high performance cars with better handling not slow down to average speeds in real life?
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Old 09-21-2012, 10:52 PM   #30
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Quote:
Originally Posted by HonestChieffan View Post
Good. More proof you are a complete moron. A tax code that follows life. This has potential.
What do you think comes first: the tax code statutes and regulations, or the issues that the statutes and regulations cover?*



* Also, have you ever read a tax code regulation, or a revenue ruling, or a tax court opinion? Just wondering so I know if I'm talking with someone who is familiar with them.

Last edited by La literatura; 09-22-2012 at 12:15 PM..
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