Where I live the then socialist government did away with home mortgage tax deductions decades ago. I was upset. In exchange, we got free nationalised health care. Good trade, I truly reckon.
Every deduction has a constituency. See Big Bird. When an elected official suggests cutting any entitlement the uproar from that tiny group is overwhelming and so nothing ever gets cut. Politicians don’t want to lose votes.
Single payer health care, like Brittains National Health, eliminates jobs in the insurance industry because they become pointless leeches. Health care costs drop like stones, and many people who are not HMO leeches are very happy. But happy people, and sick people have no lobbyists. HMOs and insurance leeches have many. So, we have rising health care costs, no matter what, even if the actual costs dont suffer from inflation. HMO managers want new yachts.
This is a regressive tax deduction for the rich, the more expensive your house the bigger the deduction. I can’t believe the “middle class” is so in love with a deduction that benefits the wall street scum more than anyone else.
Ottodesu over 11 years ago
Where I live the then socialist government did away with home mortgage tax deductions decades ago. I was upset. In exchange, we got free nationalised health care. Good trade, I truly reckon.
vwdualnomand over 11 years ago
loopholes, got to love loopholes.
Libertarian1 over 11 years ago
Every deduction has a constituency. See Big Bird. When an elected official suggests cutting any entitlement the uproar from that tiny group is overwhelming and so nothing ever gets cut. Politicians don’t want to lose votes.
Basqueian over 11 years ago
Single payer health care, like Brittains National Health, eliminates jobs in the insurance industry because they become pointless leeches. Health care costs drop like stones, and many people who are not HMO leeches are very happy. But happy people, and sick people have no lobbyists. HMOs and insurance leeches have many. So, we have rising health care costs, no matter what, even if the actual costs dont suffer from inflation. HMO managers want new yachts.
jonesb over 11 years ago
This is a regressive tax deduction for the rich, the more expensive your house the bigger the deduction. I can’t believe the “middle class” is so in love with a deduction that benefits the wall street scum more than anyone else.