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The first line of this IM wonderfully sums up our country's woes -- (link)

Posted by ty97 Oct 18 '13, 09:23

(No message)

We act like this as a people far too often. How can we expect anything to get better if we're always all only looking out for #1? (hsxtt.com)

As I've posted ad nauseum...

Mel Profit (aka mel profit) Oct 18 '13, 08:54

I know it's bad for the economy but they'll take that out of my Cold Dead hands. If they want to take that away they'll need to take the Bush Tax cuts back as well and we all know that's not happening.

In response to dmuck: "those bastards don't even have a mortgage interest deduction!....nm"

Responses:

I think looking at the issue on taxation and revenue terms is incredibly myopic. Public Policy is about rewarding behavior that makes the whole of - landbeck Oct 18, 10:11 2
- but does it actually have that effect? - Reagen Oct 18, 10:13 1
  - *eyeroll* In what universe does *actual* public policy have the intended effect?! -- nm - landbeck Oct 18, 10:31
I'm against it simply becuase it's changing the game on people who've made that choice. - Will Hunting Oct 18, 09:53 16
- Phasing it out would probably be the most painless way. -- nm - Reagen Oct 18, 09:57
- [deleted] 13
  - and let's look at the Carried Interest Tax Rate btw... -- nm - Mel Profit Oct 18, 09:59 12
    - [deleted] 9
      - and that's what I mean...I'll trade the MID for Carried Interest. -- nm - Mel Profit Oct 18, 10:02 8
        
        [deleted] 7
        
        I like how "everything is on the table" ...except *unscrolls a very long list* - Mel Profit Oct 18, 10:06 5
        
        [deleted] 4
        
        I don't think the number of people who benefit from CI matters. - Mel Profit Oct 18, 10:13 3
        
        [deleted] 2
        
        you're wildly optimistic. -- nm - Mel Profit Oct 18, 10:22 1
        
        [deleted]
        
        and that's just how his hands are normally! -- nm - Reagen Oct 18, 10:05
    - That's one that we should definitely look at. It disproportionately helps a small group of high income people. -- nm - pmb Oct 18, 10:00 1
      - [deleted]
- It would still affect the resale value of your home. Presumably a buyer wouldn't pay as much since ownership will cost more. -- nm - pmb Oct 18, 09:55
and yet... - Mel Profit Oct 18, 09:48 4
- Those people you describe in the third paragraph are getting the benefit of the deduction too. -- nm - pmb Oct 18, 09:58 3
  - and if anything, it'll hit higher incomes more - Reagen Oct 18, 10:01
  - see how pernicious it is? -- nm - Mel Profit Oct 18, 10:00 1
    - and by "it" I mean... - Mel Profit Oct 18, 10:05
I feel somewhat differently on this particular issue because I do think (contrary to the writer) that home ownership is a big driver in our economy. - pmb Oct 18, 09:45 7
- canada doesn't have one and home ownership rates are higher than the us. great britain had one, abolished it, and it had little effect.... - x Oct 18, 09:54 1
  - It's the game change though that takes value out of the economy. Never having had it would make less difference than having it and losing it. - pmb Oct 18, 09:56
- [deleted] 4
  - Homes would become more expensive to own, but the price would probably drop since the cost is not subject to the deduction. So you'd have people - pmb Oct 18, 09:54 3
    - [deleted] 2
      - I really don't think markets have incorporated this in real estate because they are individual buyers who are not likely to make those broader risk - pmb Oct 18, 10:02 1
        
        [deleted]
It's human nature. Why should you give up something that's of value to you, to make life easier for people who won't give up anything - Roger More Oct 18, 09:32 3
- Certainly, and I am not exempting myself as a result. But we can choose to act outside our own selfish, innate ways if we want -- nm - ty97 Oct 18, 09:49
- [deleted] 1
  - Sure - but those who are more willing to sacrifice get taken advantage of by those less willing. -- nm - Roger More Oct 18, 09:57

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The first line of this IM wonderfully sums up our country's woes -- (link)

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