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Same reason we don't tax drugs or food. It adds costs to something that is every human is involved with which is housing. It would raise the cost of where you live whether it's an apartment or a home.
?? Farmers and pharmacy companies pay taxes, which are a tax on drugs and food. The retailers do...and in my state at least, we pay sales tax on both.
By all means remove the deductions. But that has to be accompanied by a reduction in the overall rate. Otherwise all you are doing is increasing taxes.
Same reason we don't tax drugs or food. It adds costs to something that is every human is involved with which is housing. It would raise the cost of where you live whether it's an apartment or a home.
?? Farmers and pharmacy companies pay taxes, which are a tax on drugs and food. The retailers do...and in my state at least, we pay sales tax on both.
You get screwed then on basic necessities. Our food & drugs have no sales tax.
The main point is it helps reduce the cost of owning a home or property. It helps keep it affordable and an incentive for investing in a major industry. Real estate sales, construction and related drive a large part of the economy.
jNever used the mortgage deduction. Too low so I take the standard. I don't plan on paying the obama fine for not having health ins either,I will get free ins instead. Learn the rules before you try to play the game. I may not get all the benifits illegals and baby makers get but I'll do just fine. To old to play the game anymore.The freebee's for all party keeps winning so why bother anymore.work is for the payers of the non workers. Don't get me wrong I still work hard will till I die, just not for the non workers. I don't need or want gov help but force it on me it leaves me no choice.
I want to get rid of the IRS....do you think the CPA's will allow that to happen????
That's right, shoot the messenger. The IRS only enforces the tax code, it doesn't write it. Who creates the tax code? Congress writes it and and the President signs it into law. Civics 101. If you have an issue with taxes, take it up with them.
This is a deduction that should be removed from the code as with many of the other deductions. I recall in the 1980's that credit card interest could be deducted, but they corrected that mistake. Rewarding people for borrowing is a mistake with miserable savings rate in the US.
This is a deduction that should be removed from the code as with many of the other deductions. I recall in the 1980's that credit card interest could be deducted, but they corrected that mistake. Rewarding people for borrowing is a mistake with miserable savings rate in the US.
The same is true with all deductions. It's all about encouraging the response the response the government would like to see. Which is why the tax code is thousand of pages long, tax preperation and accounting costs millions (billions?) every year and why lobbying is such a lucrative career.
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