Dear Think,
The Mortgage Interest Deduction (MID) is vital to both home ownership and our economy. I'm disappointed that anyone in Congress - or on a Presidential Commission - would even suggest limits to the Mortgage Interest Deduction. Mortgage interest has been deductible for nearly 100 years, and the proposed changes will affect all 75 million home owners in the United States. We must act now to make sure the MID is not changed.
Ever since the Deficit Commission announced its conclusions, the news media have been buzzing about the report. And what do they emphasize? Proposals to limit or even eliminate the Mortgage Interest Deduction. I'm concerned because all this does is scare the public - and potential buyers - away from the housing market. The last thing the housing industry needs right now (and for the foreseeable future) is another bucket of ice water to be thrown on the market. People who hear these news reports don't differentiate between a proposal and a done deal. The just know that a tax provision they actually understand and rely on is under siege. This is just unacceptable.
I am asking you to call to your representative's office today to ask him or her to defend the Mortgage Interest Deduction from any cuts or reduction as outlined in the Deficit Commission Report.
Blah, blah, blah, blah blah...
So now that you've read the email, lets think about this for a minute...
- "The MID is vital to both home ownership and our economy." Really? Wouldn't a true housing bottom or perhaps jobs be vital to the economy and not a tax deduction that doesn't apply to most people?
- "I'm disappointed that anyone in Congress - or on a Presidential Commission..." Couldn't we just stop here with disappointed?
- "The proposed changes will affect ALL 75 million home owners." Really? Could you tell me how this change will affect those homeowners who own their homes free and clear? And do you really believe that ALL homeowners even qualify for this tax deduction?
- "I'm concerned because all this does is scare the public - and potential buyers - away from the housing market." So the public and potential buyers are only scared of the housing market because the MID might go away? A deduction in which if they qualify, they can pay $10 in interest and get $3 back (BTW if you give me $10 I will gladly give you $5 back)? You don't think that they might be scared because the job market is tight, lending is tight, and the fact that we have not reached a housing bottom yet?
- "They just know that a tax provision they actually understand and rely on is under siege." Come on are you kidding me? Do you REALLY believe that the public actually understands this tax deduction? And again how much do those homeowners who are free and clear rely on this? What about those who DO NOT own? How much are they relying on this?
- "This is just unacceptable." Yep! I agree that this email with this nonsense and lies is unacceptable. Please stop sending them immediately!
- "I am asking you to call to your representative's office today." Seriously??? You're asking a REALTOR to pick up the phone??? :)
