When Trump and his collaborators passed the Tax Scam they set the SALT deduction at $10,000 they put a real crimp in the mortgage deduction. I live in a modest house in Central New York in a town with a "reasonable" tax rate and it caused my taxes to go up. The right answer is to eliminate the tax and interest deductions on non-primary residences. This would hit the second. third and fourth (or more) homes of the billionaires, and the apartments in NYC or Miami owned by Russian oligarchs or South American drug lords.
Co-sign! Thanks for spelling this out, Peter.
Any objective look at reforming the tax code would also do away with the mortgage deduction, but good luck with that...
When Trump and his collaborators passed the Tax Scam they set the SALT deduction at $10,000 they put a real crimp in the mortgage deduction. I live in a modest house in Central New York in a town with a "reasonable" tax rate and it caused my taxes to go up. The right answer is to eliminate the tax and interest deductions on non-primary residences. This would hit the second. third and fourth (or more) homes of the billionaires, and the apartments in NYC or Miami owned by Russian oligarchs or South American drug lords.