This article was provided by Bloomberg News.
Trump Tax Plan Would Make Mortgage Break Worthless For Millions
May 16, 2017
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Take of your Trump-Hate glasses please, kkrimmer. A $24k standard deduction is far in excess of most people's itemized deductions including mortgage interest, and therefore will benefit a lot more people than the realtors who oppose this simplification purport that it will hurt. Your argument is like saying the $1,000 per child tax credits under Bush II (that had income phase-outs) were only for the rich. The lower a person's income, the more benefit they gain from Trump's proposal.
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NO SURPRISE... U.S. Treasury Secretary Steven Mnuchin has taken pains to stress that the Trump administration isn’t out to kill Americans’ beloved mortgage-interest tax deduction -- but a side effect of the plan could turn it into a perk for only the wealthy. GOP WORKS ONLY FOR THE 1%... but the 1% are not my clients... mine will be hurt as will millions of others...