Anyone who cares about inequality should like this provision. The government doesn’t need to subsidize mortgages over $750k. You should still dislike the tax bill. Reducing estate tax, cutting the top income rate, big corporate loopholes, etc. But capping the mortgage deduction?https://twitter.com/senfeinstein/status/942454012711964673 …
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Replying to @NGrossman81
Those counties she mentioned have “average” mortgages above that level. Are they 100% rich counties? Or will this provision specifically hit a small cadre of Democratic voters in Blue states with high real estate expenses?
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Replying to @dmf71
It’ll hit blue states more than red. NY along with CA & others. But yes, those counties are wealthy. And everyone with a mortgage still gets to deduct interest. Just the amount people with mortgages over $750k can deduct will be the same as people with mortgages of exactly $750k.
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Replying to @NGrossman81
Okay. I can see one positive in the tax bill. You’ve convinced me. I just watch enough HGTV to know that they charge near a million for some otherwise middle class homes on the coasts
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