Now if that's not disturbing then this next issue definitely should be. There is talk of removing the mortgage interest tax deduction. When that happens, how will the average person be able to afford a house. It is the tax deduction that enables people to do things like make home improvements, and even do simple home maintenance. This is the war on the middle class. This mortgage tax deduction is the thing that makes the middle class happen. I will bet my house that this idea is supported by the GOP.
CNN: Home prices near 2009 lows -- and may fall more
"There's a substantial risk of home prices falling another 15%, 20% or 25% more..."
There's also talk of possibly ending the mortgage interest tax deduction for many homeowners.
In three cities, Detroit, Cleveland and Las Vegas, home prices have dropped below their January 2000 levels...
3 comments:
No jobs , Wally-Mart can't even make it. The Elite couldn't care less. The increasing poverty out here makes them feel even richer. People are so brain washed they believe it's all the fault of each other. The Corp. media is busy making sure they don't look at the real causes. In the mean time food prices and most other basic commodities are rising and the food riots are starting World wide. Watch the 1970's kult klassiX movie SOYLENT GREEN for further references. Ethical suicide parlors are not far off.
If they cut that mortgage interest tax write off, I think that will be a huge dagger into the middle class. The idea of being upwardly mobile in this country is a pipe dream for the poor. We will have a huge surplus of unsold houses that will become rentals and then the suburbs will look like ghettos.
Remember, That's exactly what old man Potter of the bank wanted in Capra's Classix "It'a a Wonderful Life" Although, I have to admit Potterville did seem to be quite alive Honky Tonk wise. The GOP wants to return us to a two class society. They want all taxes flattened and they don't want any Social programs at all. Defense and Corp. pork is all they're interested Gov't wise.
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