because i paid cash for my house i dont recieve an interest deduction. as far as what consumable item costs the same in interest as a house many cars do.
really? many cars are comparable to houses in terms of interest? what's the average US cost of a house? of a car? how many houses you think have 5 year mortgages? how many cars get 30 year ones? and i mean here, on planet earth. it's good that you decided to pay cash for your house, but not many do that. how many do you think could?
not many but since you always pop up on the right wing side of things maybe you can explain the conservative principle by which someone paying cash for a house should be made to subsidise those of you that use debt.
wtf! how does someone paying for a house in cash subsidize those of us who take out a loan? instead of defending all of the aspects of your argument that i continue to shred holes in, you continue to come up with more bizarre points. i don't know if this is the way you learned to debate, or it's your attempt to redirect me from the fact that your original post (and article) was so poorly constructed with flimsy statistics.
when you get a tax break that everyone does not get it is a subsidy. it costs the government money to give you an interest rate subsidy. taxpayers have to make up the difference.those of us that are more fiscally conservative have part of our taxes spent to pay for your subsidy. i understand that the government does it to encourage homebuying but the fact remains it is a subsidy. its really not that hard to understand.
Funny how half of the obama administration are tax cheats. I suspect they are not included in "everyone".
no, it's not a subsidy! the house you purchase in cash is not more expensive because someone gets to deduct interest from their taxes. the government does not apply a higher tax bill to you because of the interest expense deduction. the amount of taxes paid by each individual does not go up variably based on how many people deduct interest expense on their return each year. and lastly, the government does not have a required amount of tax funds to receive each year, and if it does not receive that, splits among the populace the difference equally in order to hit that amount! get a grasp of tax policy!
maybe you should call up your high school economics teacher. maybe he can explain it to you. "Itâs good that Obama has put the mortgage interest deduction on the table. This is a huge housing subsidy that severely distorts the economy. But Obama doesn't go far enough. The mortgage interest deduction should be eliminated altogether. Itâs quite well known that the mortgage interest deduction channels too much of our wealth into housing and housing finance. People essentially pay a tax penalty for not taking on a mortgageârenting or buying with cashâ" http://www.cnbc.com/id/41579140/How_to_Eliminate_the_Mortgage_Interest_Subsidy_Without_Raising_Taxes
maybe while I call my econ teacher, you can call your english teacher and learn reading comprehension. cut-and-paste, you're good at, though. it is a "housing subsidy" because it subsidizes HOUSING by making the housing market bigger than it possibly could be. ie, if you removed the deduction, the housing market would crumble. that is what "subsidize" means in that sentence. YOU, by paying cash, do not pay a single red cent more because someone takes out a loan to buy their house. how thick can one person be? if you still maintain the positively preposterous idea that you pay more as a cash buyer of a home because of those who take out mortgages, please walk me through the calculation of how this effects your tax rate. actual percentages and numbers please. i mean, if you're being charged more, you should be able to show us how much, right?