Quote:
Originally posted by baltassoc
So, lets talk real dollars here. How much is getting Bush back in netting you in this little resource reallocation?
Just wondering if its going to be more than the $1000s its going to cost me. 'Cause I'd just as soon keep it in the family.
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Probably neutral for me. The AMT is a problem, but only about equal to what losing the mortgage deduction will be. I mostly like it because it's one small step in bringing us back to a rational taxation system. The AMT is a total kludge, and the mortgage interest deduction, while it was useful in building the original ownership society years ago, has outlived its usefulness, and is mostly a boon to owners of very expensive or very leveraged housing.
ETA - I'm mostly just opposed to all of the long-lasting efforts at social engineering that have been built into the tax code. While the efforts might have been noble at heart, we're just not very good at it, and we end up doing things to society that we didn't intend, and that are harmful to economic and social growth.
