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They already get more money from the federal government than they deserve, but this is disgusting. I live in California and I'm a homeowner. Because selfish primitive states like Tennessee and Texas don't want to have any income taxes, our money goes to help them through their endless shortfalls. Now, we'll be penalized even more. As it is, we get less federal monies than the selfish little states who don't want to pay into the local system.
Conservatives pride themselves on being more self-sustaining, but this is ridiculous: they suck the blood of others while feeling no sense of coexistence.
This is outrageous. Couple this with the high cost of housing here, and any change in the current laws gets really ugly. NO ATTEMPT TO LIMIT MORTGAGE INTEREST DEDUCTION IS FAIR UNLESS TIED TO LOCAL OR STATEWIDE PRICES.
If the interest is capped at $350K, how does that work in a state with a median house cost of $494K? (Yep, that's what it is in California; hell, a tiny little 892 square foot place down the street sold for $679K. Did you get that? This is hardly Beverly Hills, this is 2 miles from downtown.)
Looking at this, we get fucked in every way possible. Someone in one of those red states with NO income taxes will be able to live in a palace and be able to write off all the interest as before, whereas those of us in states that give a fuck about the world will pay income taxes, not be able to deduct them from federal taxes, and lose a deduction on what is a much smaller home.
This is the heart of the modern conservative movement: fuck everybody else.
We pay HUGE taxes, both local (property taxes) state and federal. We support this country, but that's not enough for the greedheads; they want us to foot the bill for ALL OF IT. Yeah, fine. The problem is that it simply isn't possible.
People advocating this are deeply ugly. They have more money than it'd take to choke a bison, but that's not enough. What's scary is that the precarious balance of this country's economy can't sustain what it's already called upon to shoulder, fucking those who sustain it will just make it worse.
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