There's talk of capping 401(k) contributions at $2,400 per year

[Rollo]

50. There already is a ceiling on the mortgage deduction...

I believe it starts getting eliminated at mortgage values of $1 million. And there may be income limits as well. There's been some talk of reducing that limit to $500k.

It wouldn't bother me much because my home is worth much less than that, and is nearly paid off.

There is some talk that the mortgage interest deduction has had the net effect of inflating housing prices. Oddly that didn't seem to be the case in 2009... and if it is inflating home prices, the unintended consequence of limiting or eliminating the mortgage interest deduction may be to send lots of newer homeowners under water and perhaps making them homeless.

In a sense there is little that can be done with tax reform without pissing off one or the other group. And most people don't see giving some other group a deduction effectively increases their own tax burden. So we have lots of tax deductions that have multiplied over the decades, and it's politically far more difficult to remove a deduction than to grant it.

Trump can either piss off his base, or please his puppet masters.