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Reply to "Why should I vote Republican after this tax plan?"
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[quote=Anonymous]If someone had a 1m mortgage now the interest of about 4500 - annual 54000 plus the 10000=64000 deduction. A new mortgage would be on the 500,000 and 27 000+ 10000=37,000. Consider the removal of income based limitations on itemized deductions. That removal was for married over 311,300 removing 3%. At inc=$511,300 the 1m mortgage holder gets 64000 deduction when existing plan capped at about $35,500 yielding 29k more in deductions. This is what, a dough nut hole? Politicians are ignoring this inequity and simply complaining about SALT rather than a subset getting major benefits. That is why there should be deductions for up to 50k max-any combo of SALT and mtg. [/quote]
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