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Southwestern Woman

Home & Garden > A Matter of Concern
 

A Matter of Concern

The home interest deduction doesn't mean a lot to those of
us who are older but home ownership is important and should
be encouraged. It promotes good citizenship and pride of
place. If you own something, then you take better care of it.

It makes me angry to think that congress wants to take away
a very real incentive to home owners. It allows people to
build equity for their old age and we need a paid for home
when we get old.

This is just another way to spit on the middle class and
the poor. Please write your congressman and protest this
asinine way to get more taxes. They need to tax corporations
and not people who are struggling to make their mortgage
payments.

It was important to me as a single parent and it is important
to many young families getting started. Please write or sign
a petition.

posted on Aug 18, 2014 5:27 AM ()

Comments:

Home equity seems to be the thing here for older home owners, can borrow $ from the value of your home settlement is when you sell or die.
great for those asset rich and money poor
comment by kevinshere on Aug 20, 2014 3:15 AM ()
I think home ownership is part of the American dream and the income tax
deduction makes it more possible for young families. I would hate to see
that go.
reply by elderjane on Aug 20, 2014 7:05 AM ()
Owning is more complicated than renting and it is way more expensive. If I were on my own, I'd go back to renting. Not to say my home isn't special -- it is, but taking care of it is a 24/7 thing.
comment by tealstar on Aug 19, 2014 1:20 PM ()
Maintenance is the down side to home ownership. If you like to decorate,
it becomes a vehicle for your ideas and you can't do that if you are
renting.
reply by elderjane on Aug 20, 2014 7:08 AM ()
Eliminating home mortgage interest deductions would absolutely kill the real estate AND mortgage loan industries. It will never happen. Those two industries have very rich lobbies. Never fear.
comment by jondude on Aug 18, 2014 6:03 AM ()
this is one time the lobbys might actually help people while helping special
interests. A home of one's own with no rent to pay is a treasure.
reply by elderjane on Aug 18, 2014 2:55 PM ()
I haven't ever heard of this? Is it a federal thing?
comment by kristilyn3 on Aug 18, 2014 5:55 AM ()
Congress wants to deprive us of a tax deduction. I have no need for it but
others do. It is an incentive for home ownership. Let them tax Corporations
in a fair manner and leave little guys alone.
reply by elderjane on Aug 18, 2014 2:59 PM ()

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