Home Ownership the Driver of Inequality?

Bigdog said:
Your question was quite clear. It had nothing to do with mortgages.
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The issue is the mortgage interest deduction and who does it benefit. Holistically the question is does getting rid of deductions such as this one help us get to a flatter tax code. This article specifically asks if the MID benefits the well to do at the expense of the lower income folks.
 
PostmodernProphet said:
logically, if they have the cash.....why borrow money from the bank and leave cash in CDs or bearer bonds paying less interest than the mortgage rate.......wait, maybe liberals would do that........
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what's your opportunity cost for that money? including the tax write-offs
 
Combover said:
I can't imagine that any homeowner tax write-offs make-up for even an interest rate of 2.5%.
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It's more about the return you can get on that money elsewhere. If you can invest it at a higher rate a mortgage could be worth it instead of putting it into the property.
 
cawacko said:
I appreciate that we have multiple Bernie Sanders voters on this board but something like this doesn't bother y'all.

TTQ64, bless your heart my friend, but this is why socialism won't take over the U.S. Even white Bernie voters don't want to give up their privilege.
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:0) First my brother, like Grind and many others here, you seriously need a primer on the difference between socialism and communism.

Communism is economic and political .. socialism is an economic system, not political. Thus, socialism easily exists within many different political systems, including capitalism, just as it continues to exist and grown within the American political system.

We're not becoming less socialist, we're becoming more socialist than we've ever been.

Socialism doesn't need to 'take over' to become a driving force in a capitalist system.
 
cawacko said:
The issue is the mortgage interest deduction and who does it benefit. Holistically the question is does getting rid of deductions such as this one help us get to a flatter tax code. This article specifically asks if the MID benefits the well to do at the expense of the lower income folks.
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Not sure anyone doesn't understand the obvious, but once you've paid off any second you may have, and you are say half through paying off your first, the deduction drops precipitously. Meanwhile you pay property taxes 4evr, and renters don't. Plus there is a small renter's credit. And there are a host of maintenance expenses owners pay that renters don't. Being landed gentry is not all armor and damsels. Peasants have it pretty sweet after they've finished loading bodies on the corpse wagon all day. You Republican lunchpalers can go home, eat cheetos, scratch your nads watching family guy and complain to your landlord about everything not working quite right like the permanent shitstain on your circa 70s toilet and the holes in walls you hide with that tasteless faux art from Target.
 
blackascoal said:
:0) First my brother, like Grind and many others here, you seriously need a primer on the difference between socialism and communism.

Communism is economic and political .. socialism is an economic system, not political. Thus, socialism easily exists within many different political systems, including capitalism, just as it continues to exist and grown within the American political system.

We're not becoming less socialist, we're becoming more socialist than we've ever been.

Socialism doesn't need to 'take over' to become a driving force in a capitalist system.
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And you'll notice how long it's been since we've had 3% gdp growth in a year. :)
 
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