Debate #1... GO!

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#1 Oct 09 2012 at 7:42 PM Rating: Good

Smasharoo

Lunatic

30,086 posts

IIRC, he was talking about capping it at either $17k or $25k (or something in that range). That's not going to affect most Americans at all, and certainly not the "Poor".

Really, Pareto? A 25k cap on itemized deductions won't impact people making 25k. WOW! SCIENCE!

It would affect many homeowners, as racking up $10k+ in interest deductions is fairly common, even for people who live places where $100k can buy an actual structure with doors that isn't on fire. That and the pre-tax value of healthcare (both sides of the employer/employee premium) would fill up $25k fairly quickly for an "average" middle class, $100k a year family of 4.

At any rate, let me emphasize again, that we're arguing over what color the armor for the new unicorn army should be.

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