walkitout (walkitout) wrote,
walkitout
walkitout

what's middle class to you?

http://www.usnews.com/blogs/the-home-front/2009/02/26/mortgage-interest-deduction-on-the-chopping-block.html

The budget proposal phases out (may not be the right terminology) the mortgage interest deduction. As far as I'm concerned, there should not _be_ a mortgage interest deduction. There should be a _rent_ deduction. The current set up is heinously regressive. The commentary in the above URL is truly appalling, in that it quotes a guy from NAR saying:

"this proposal will increase the cost of housing for many middle-class families" in places with expensive housing.

There is also a quote from this article:

http://online.wsj.com/article/SB123559630127675581.html

The WSJ is careful to note that this proposal affects "Upper-Income Americans" -- after all, the brackets affected in TY2009 _start_ with an AGI of $208K+.

What do you think -- does the "middle" class include couples making $208,000 AGI?
Subscribe
  • Post a new comment

    Error

    default userpic

    Your reply will be screened

    Your IP address will be recorded 

    When you submit the form an invisible reCAPTCHA check will be performed.
    You must follow the Privacy Policy and Google Terms of use.
  • 6 comments