General Discussion
In reply to the discussion: Tax Deductions are a HUGE form of welfare, and the richest people are getting the most welfare [View all]Thinkingabout
(30,058 posts)On personal income filers it is one of a few deductions, it is a"business" deduction on personal income. Homeowners normally do not get to expense utilities but filing on a business return this may be allowed.
On the other hand, if you are a renter the landlord gets many more deductions allowed for owning the property. If everyone was renters just where would you get housing.
The portion of the tax code is those who get their incomes from capital gains is too damn low, put the capital gains up with incomes of working folks. Halt the off shore tax havens enjoyed by people and corporations alike. Make everyone responsible for maintaining our military. Charitable deductions allow those with means incentives to donate of which was not available may never give to those in need.