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That doesnt at all follow from what I said.Fair enough. Just don't let me ever catch you ranting that the federal government doesn't have the constitutional authority to tax for the purpose of social engineering, or anything similar
NOT taxing to promote the general welfare is an entirely different animal than taxing tp provide for the general welfare.
No... because expenses are pay-outs, whereas deductions are not.I know you'll say that tax deductions aren't expenses, but that's really just a matter of semantics...
Sounds like an incentive to buy a house - which is the whole idea.Since you could just as easily look at it from the perspective of renters being burdened by an ADDITIONAL tax to which homeowners are not subjected.
And I would argue that it does not do that from the federal standpoint.
Its good for everyne, everwhere. Seems like a federal standpoint to me, given that the term is 'general welfare'.
Well, that;s true, but if cities start taxing at the same rates as the federal; government, they will soon be empty.There is no reason they have to be disparate. Local governments are free to make their tax code friendly toward homeowners and odious toward renters, if they feel it's in their best interest.
The point is that the deduction applied to a tiny tax rate doesnt create the same benefit as the same deduction applied to a higher tax rate. As such, cities ans states cannot hope to match the incentive that the federal government can offer because the tax rates of the federal government are so much higher.
None of that is retarded by home ownership, except in the few points in time where houses arent selling.Not necessarily for individuals...but from a macroeconomic perspective it definitely is. It allows employers to have a wider talent pool from whom to pick their employees, and it allows workers to have a wider range of career options from whom to pick their employer.
Them, by defintion, high mortgage rates were discounted even more - why was there no bubble when mortgage rates were high?The low mortgage rates were made 10-35% lower by the mortgage interest deduction.
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