General Discussion

former9thward

(32,003 posts)

12. The mortgage deduction was one of the causes of the 2008 crash.

Sun May 26, 2013, 07:18 PM

May 2013

It allowed and encouraged people to buy homes too big for them and they couldn't afford them. Other countries don't have this deduction and they do ok. The deduction is corporate welfare for the real estate industry. I differ with you about government giving subsidies to corporations. I don't believe in crony capitalism. Let them rise or fall based on merits and demands for products or services. We taxpayers should not have to subsidize them. Also end the welfare for Big Agriculture with the farmer subsidy to not grow food.

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16 replies

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Highlight:

About That Apple Tax Dodge [View all] marmar May 2013 OP

Maybe our tax code should have no loopholes for business and no deductions for individuals. former9thward May 2013 #1

Flat tax shawn703 May 2013 #3

Then that is a progressive tax, not a flat tax mrdmk May 2013 #16

Harder than it sounds FreeJoe May 2013 #8

Nicely put. randome May 2013 #10

Taxing profits and allowing expenses to be deducted simply opens the door Egalitarian Thug May 2013 #15

The problem is that we've grown very accustomed to those deductions mythology May 2013 #11

The mortgage deduction was one of the causes of the 2008 crash. former9thward May 2013 #12

I hardly think people were buying homes they couldn't afford Live and Learn May 2013 #13

k&r Starry Messenger May 2013 #2

Of all the big corporations adieu May 2013 #4

We don't need a regressive flat tax, we need to close the corporate friendly - as in we paid for it byeya May 2013 #5

I Am Not Willing To Accept The Premise DallasNE May 2013 #6

I saw an article today that said Ireland is considering changing their tax laws davidpdx May 2013 #7

The fault is the government that allows it. OnyxCollie May 2013 #9

Du rec. Nt xchrom May 2013 #14