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Goodbye Mortgage Interest Tax Credit


Savage Beatings
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Less a liberal objection than a question about what your conspicuous consumption is really gaining you - if you and your wife need a full-size basketball court to play one-on-one, then your 3000+ sq feet is probably justified.

 

Well, we have four crappers (3 1/2 baths), one for everyone in the house in case we all have the sh!ts at the same time. We have a formal living room for guests. A den where we spend most of our time, that is almost impossible to keep clean thanks to the kids thus the need for the formal living room. The poker table is also in the den, half way between the kitchen and the TV in the Den. We have my man cave that has the 52" TV, the pool table, and most of my sports memorabilia. We have a formal dinning room that we use almost weekly entertaining guests, and we have a breakfast area where we eat most of the meals. We have a fairly large laundry room, with a craft table in it for my wife to do her crafts. We have a study where my wife keeps all of her records for the various charities she works for, and or personal records. We only have 3 bed rooms. We have a ton of storage so that we don't have to store anything in the attic. The next time my construction company slows down, I'm going to have some of my guys come out, and we are going to take in part of the attic to make a home theater room. We use every bit of the house.

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Just one question for you guys that think that that having a limit on tax breaks is unfair....

 

So if spending too much money on a house means that you should recieve no special considerations (positive or negative) tax-wise, does that mean that earning too much money should have no special considerations (postive or negative) tax-wise? Meaning should we not therefore eliminate the cap that is paid into Social Security? Fair is fair after all.

 

I'd be more than happy with that if we went to a flat tax where everyone paid the same percentage on their income as everyone else. If we did that, I'd be happy getting rid of all caps, and all deductions.

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