The Homa Files

This stuff just keeps getting wackier and wackier …

“The budget came with a painful and unexpected surprise:

After 2010, American households making over $250,000 would see the rate at which they can deduct mortgage-interest payments and other items from their taxes reduced to 28% from the current 35%, costing them $318 billion over 10 years.”

Question: Will that help or hurt home real estate prices?

Also taking this hit: tax deductions charitable contributions.  Guess NFPs will just have to grovel (more) to the government bureaucrats.

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Source: WSJ, “Taxes Test Obama’s Support Among Higher-Income Voters”, Feb 27, 2009
http://online.wsj.com/article/SB123570454670090115.html

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This entry was posted on March 3, 2009 at 7:59 am and is filed under Mortgage Crisis, Taxes. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.