Would you give up your mortgage deduction for a flat tax?

4 Comments

  • TIRED OF YOUR MUCKING AROUND - 13 years ago

    PLEASE STOP MESSING AROUND WITH DISTRESSED HOME OWNERS AND DISTRESSED HOME VALUES!

    THE LAST THING WE NEED RIGHT NOW IS TO LOSE MORE MONEY AROUND OUR FIRST-EVER REAL ESTATE INVESTMENT, I.E., OUR HOME. IT'S BAD ENOUGH THAT THE HOUSING VALUES HAVE FALLEN AND NO TELLING WHEN THEY'LL REBOUND. DO NOT TAKE AWAY OUR SMALL TAX DEDUCTION FOR ALL THE INTEREST WE HAVE PAID!

  • J N - 13 years ago

    I have been in favor of a flat rate tax for quite some time in place of the current income tax system as long as it is a lower, fair across the board percentage for the following reasons. First a flat rate of 5% with no deductions, write offs, or end of year filing to claim a return, taxes everyone fairly based on their income either married or single. Yes the more you make the more you pay, but the idea of taxing the rich more under our current system is a misnomer. They generally have more write offs and deductions and in the end pay less taxes than everyone else, leaving the burden to the middle class who by and large don't have the write offs or deductions. A flat system is more proportionate, and would allow tax rates to be lower overall. As with any new legislation the devil is in the details and the implementation, and the end result could be worse.

  • larry s - 13 years ago

    The mortage deduction must stay otherwise house values would collapse. A flat tax is a good idea but the American people must be weened off the currant tax structure with tax incentives , simular to what we do with bussiness to help grow the economy. We then must ,in the same way ,privatize Social Security by phaising the current system out over several years thus shrinking the Federal Government and giving the individual more control over their own retirement account and elimating fraud at the Federal level. We also must take stimulas money that hasn't been spent and turn it into new tax incentives to help re-grow our economy and put out of work Americans back to work and generate much needed tax revenu and shrink our debt.

  • Mike Herring - 13 years ago

    Leave the mortgage deduction alone and go to a revenue tax. The more people purchase, the more they pay, although I'd exclude food for consumption from the tax. Obviously, the ones who can afford to buy lots of things, can afford to pay more tax than those who cannot afford those things.

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