{ "media_type": "text", "post_content": "The mortgage interest deduction seems too good to be true. Outside of cashflow, why does anyone even care what their rate is? What am I missing?", "post_id": "590943c5f735ee00105bbbf7", "reply_count": 16, "vote_count": 2, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting", "feed_type": "crowd" }

The mortgage interest deduction seems too good to be true. Outside of cashflow, why does anyone even care what their rate is? What am I missing?

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Posting as :
works at
You are currently posting as works at

NM I'm an idiot

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KPMG strategy practice?

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I was just reading an overview of deduction... thought it was 1 for 1 for mortgage interest you pay, not on the income used to pay it hurrr durrr lol

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😂😂😂😂 - don't ask and drink

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But it is too good to be true. Disproportionately helps the wealthy and encourages an over-investment in real estate vs more societally productive opportunities.

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Taxpayers don't want "all of these things" k1. Defense, side walks, roads, sure. Subsidized college education and medical expenses along with food and housing for the somehow chronically unemployed? Not so much.

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Govt giving me back my income it stole from me is always the more societally productive opportunity since it reduces the govt's disincentive for me to be productive

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This is such bogus reasoning. If it's so disincentivized for you to be productive, why are you in consulting, earning a salary that's much higher than the median income? Do you steal from government when you use the sidewalks it paid for?

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The government doesn't pay for sidewalks - taxpayers do.

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To be more precise P1, some taxpayers want some of those things and in the aggregate, all of these things are wanted by some taxpayers. For example, I'd like less defense spending and more on subsidized college education for the somehow chronically unemployed. Also, do you really not understand the forces at work that prevent everyone from earning the incomes we do?

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?

No, taxpayers pay taxes, the government pays for everything from sidewalks to the armed forces. And they run a deficit, because taxpayers want all of these things, but don't want to pay enough taxes to maintain them.

@k1, I don't speak commie, so no point in continuing. @p1, exactly. Our incomes are stolen by special interests to fund their pet desires and a massive and ineffectual bureaucracy.

Lol, commie? No, I'm not about seizing the means of productions

Taxation and regulation are definitively control over the means of production. Advocating for an increase in either for the purposes of redistribution is advocating for communist principles

K1, are you really going to blame outside forces for everything and not attribute even a bit of it to personal work ethic and intelligence? Should we apologize for our hard work and contributions, or should we also sit back in your utopia, contribute nothing yet expect everything?

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