10-03-2005, 04:31 PM
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#1507
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Southern charmer
Join Date: Mar 2003
Location: At the Great Altar of Passive Entertainment
Posts: 7,033
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White flag?
Quote:
Originally posted by Mmmm, Burger (C.J.)
While you might fiddle with it, reasonable expectations limit how much you can fiddle at once without creating severe dislocations. I would repeal it, but over a long period. E.g., reduce the deductible amount in 5% increments over 20 years. So, this year 100% deduct, next year 95% of interest is deductible, and so forth. Sure, people will pay for a lot of points with new mortgages, but at least you'll get most of the expected tax savings on your curren tmortgage.
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I'm done with nonsense here. --- H. Chinaski
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