Republicans.
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How many million dollar homes do you have that will not qualify for this deduction? Middle class folks like me will continue to use our equity loans and write off the interest. You liberal folks don’t like wealthy people but now r against taxing them?
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I actually don't mind this. Not that I enjoy people to suffer, but just to get it through their heads just how poor they actually are. We have huge income inequality in our country that needs fixing. People living on credit makes them forget this fact.
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@OccupyWisdom No more piggy bank HELOCs if there’s no tax deduction. -
This is what happens when people scream “close the loopholes for the rich”
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Overall do you think this is good or bad? For people who decide to take out the money do home improvements it seems like that’s still a deduction. Other uses were frivolous so this reinforces responsible spending if they have to pay extra to take out the loan.
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Bad for housing market and builders
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Borrowing against your home to take vacation is irresponsible. Prompting it makes you complicit with profiteer bankers who suck the life blood of the people. Despicable
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so a lot more people will actually have some equity to use when they retire?
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This is better for preventing another home loan disaster like the one we had in 2008. Home equity loans are dangerous if the money is not used for home improvement or in a business but for leisure & buying non essential items. They should not be encouraged by tax exemptions.
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Americans need to stop borrowing.
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So we are no longer incentivizing stupid behaviors? Good!
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Trump is making sure his RICH Banker friends are able to get RICHER as fast as they can!!!!! Screw the American people!!!!!
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