What does Rep. Paul Ryan have to say about this government handout? Second home tax deductions for yachts and boats? Im not sure why there should be a deduction for a second home at all? The point of the mortgage interest deduction is to encourage and enable middle class and working class people to purchase homes to house their families, no doubt a worthwhile policy goal. Why should the taxpayers subsidize a yacht or vacation home? Why should taxpayers subsidize a luxury home? Why not limit the mortgage interest deduction to the average value of one home? If you can afford a multi-million dollar residence, why should taxpayers help you with the purchase? A large part of the answer seems to be lobbying from the people selling yachts, RVs, and vacation homes, as usual. As per Paul Ryan, we dont want yacht and vacation home owners getting complacent and dependent on government handouts.
Posted on: Tue, 01 Apr 2014 19:12:55 +0000
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