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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Mama Bear who wrote (79285)	4/11/2000 12:06:00 AM
From: BGR	Read Replies (1) \| Respond to of 132070

Mortgage interest deduction is unfairly biased against renters, who typically belong to a comparatively lower income group. Quite unfortunate, indeed.

To: Mama Bear who wrote (79285)	4/11/2000 12:16:00 AM
From: Skeeter Bug	Respond to of 132070

mama, good points. my issue is the fact that i have to subsidize the banks irresponsible lending behavior and kick in another 40% to uncle sam for the right to do so. it sucks!

To: Mama Bear who wrote (79285)	4/11/2000 9:42:00 AM
From: Les H	Read Replies (1) \| Respond to of 132070

Mortgage interest deduction is at odds with treatments of other loans for tax-exempt investments. Since Congress exempted capital gains on the sale of residences from taxation for the first $ 500,000, the mortgage interest should be not be deductible. It amounts to a double tax-free situation. The tax code is full of double- and triple- taxed and tax-free arrangments. Deductions of charitable contributions to tax-exempt organizations would be another since the recipient often pays no income tax, real estate tax, or sales tax.