Facts About Mortgage Deduction for Californians



By Stephen Frank,  California Political News and Views

The Left LOVES taxes.  They love taxing the rich.  Yet, they are upset that those who pay more than $10,000 in mortgage interest might pay more in taxes.  Democrats are trying to have it both ways—supporting higher taxes for the rich—then opposing higher taxes.  Confusing.

Richard Rider has presented a series of stories showing the hypocrisy and why it may not even be true.  This is a good analysis of the subject.

“Furthermore, as I read the convoluted language of the bill, if a new mortgage loan exceeds $500K, the deduction is STILL allowed for the first $500K. For instance, if the mortgage balance is $600K, then roughly 5/6 of the loan interest would still be deductible.

Finally (and this one is a counterintuitive shocker), Canada does not allow an income tax deduction for mortgage interest on a home residence, and yet a significantly higher percentage of Canadians own homes than Americans. How DO they do it?


Think Democrats or the media tells the truth?  Want to buy a bridge in New York?

Related article: Mortgage interest deduction facts about California

Stephen Frank

Stephen Frank: Is the the publisher and editor of the California Political News and Views.  Mr. Frank speaks all over California and appears as a guest on several radio shows each week. He has also served as a guest host on radio talk shows and is a full time political consultant. http://capoliticalnews.com/

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