On 7/24/2011 9:12 AM, John H wrote:
On Jul 23, 8:58 pm, wrote:
On 7/23/11 7:55 PM, LilAbner wrote:

On 7/23/2011 7:45 PM, John H wrote:
http://tinyurl.com/3r5l8ur
I wonder if the Democrats realize that it doesn't take a 'yacht' to
have a head, stove, and bed.
Hell, I had that in my 21' Proline.
If they want to do away with a second home mortgage interest
deduction, then do it for *all* second
homes.
All boats and all second homes over a certain value...that'll do it.
Why not *any* qualified second home?

Why give mortgage interest deductions at all? Before you know it renters
will want deductions too, and section 8, and why just a second home?
some poor folks have multiple homes. What about those folks that have 0
interest loans. It's not fair that they don't get a deduction.

In article 755e3f2f-d08f-4c7d-a527-
, says...

On Jul 23, 11:01*pm, North Star wrote:
On Jul 23, 8:45*pm, John H wrote:

http://tinyurl.com/3r5l8ur

I wonder if the Democrats realize that it doesn't take a 'yacht' to have a head, stove, and bed.
Hell, I had that in my 21' Proline.

If they want to do away with a second home mortgage interest deduction, then do it for *all* second
homes.

Why do they pick only on boat owners?

What the 'ell are you whining about??
We don't get a mortgage interest deduction on our income taxes for our
principal home.. let alone cottages or boats.
No wonder the USA is in such deep debt.... no one wants to pay their
fair share of taxes.

Donnie, how do you define 'fair share'. Remember, we have about 47% of
our population who pay *no* federal income taxes.

He defines it exactly as he thinks Harry would...

--
Team Rowdy Mouse, Banned from the Mall for life!

On 7/24/2011 9:15 AM, John H wrote:
On Jul 23, 9:44 pm, Florida wrote:
On 7/23/2011 9:35 PM, wrote:







On Sat, 23 Jul 2011 20:58:14 -0400,
wrote:
On 7/23/11 7:55 PM, LilAbner wrote:
On 7/23/2011 7:45 PM, John H wrote:
http://tinyurl.com/3r5l8ur
I wonder if the Democrats realize that it doesn't take a 'yacht' to
have a head, stove, and bed.
Hell, I had that in my 21' Proline.
If they want to do away with a second home mortgage interest
deduction, then do it for *all* second
homes.
All boats and all second homes over a certain value...that'll do it.
What if you travel around in an RV and trailer a boat?
What if you live on your large yacht and have a very big dinghy?
LOL
Eliminate all mortgage interest deductions. That'll do it better.
At least it would be fair across the board. Might not be popular and
might have a somewhat detrimental impact on the housing market. It
would probably help the rental market though.
Fair would be nice.

There is no housing market currently.

Why should the IRS be involved in giving perks for taxpayers receiving
loans?

At current loan rates, are we talking a lot of money in interest deductions?

The IRS is trying to manipulate our lives with deductions, exemptions,
and credits.
*It's not fair*

On Sun, 24 Jul 2011 09:32:33 -0400, Florida Jim wrote:

On 7/24/2011 9:12 AM, John H wrote:
On Jul 23, 8:58 pm, wrote:
On 7/23/11 7:55 PM, LilAbner wrote:

On 7/23/2011 7:45 PM, John H wrote:
http://tinyurl.com/3r5l8ur
I wonder if the Democrats realize that it doesn't take a 'yacht' to
have a head, stove, and bed.
Hell, I had that in my 21' Proline.
If they want to do away with a second home mortgage interest
deduction, then do it for *all* second
homes.
All boats and all second homes over a certain value...that'll do it.
Why not *any* qualified second home?

Why give mortgage interest deductions at all? Before you know it renters
will want deductions too, and section 8, and why just a second home?
some poor folks have multiple homes. What about those folks that have 0
interest loans. It's not fair that they don't get a deduction.

That's not the point of this discussion, but it is a good point. I'd have no problem with taking
away the mortgage interest deduction, if they grandfathered, somehow, those who bought their homes
with that deduction as part of their ability-to-pay calculation. My daughter couldn't afford to stay
in her house without the mortgage interest deduction, for example.

If a person has a zero-interest mortgage, then they weren't planning on the deduction in their
ability-to-pay calculations.

Why just a second home? Maybe even the rich congressfolk that dreamed up the deduction couldn't go
so far as to make it available for their sixth home, or whatever.

On Sun, 24 Jul 2011 09:35:45 -0400, I_am_Tosk wrote:

In article 755e3f2f-d08f-4c7d-a527-
, says...

On Jul 23, 11:01*pm, North Star wrote:
On Jul 23, 8:45*pm, John H wrote:

http://tinyurl.com/3r5l8ur

I wonder if the Democrats realize that it doesn't take a 'yacht' to have a head, stove, and bed.
Hell, I had that in my 21' Proline.

If they want to do away with a second home mortgage interest deduction, then do it for *all* second
homes.

Why do they pick only on boat owners?

What the 'ell are you whining about??
We don't get a mortgage interest deduction on our income taxes for our
principal home.. let alone cottages or boats.
No wonder the USA is in such deep debt.... no one wants to pay their
fair share of taxes.

Donnie, how do you define 'fair share'. Remember, we have about 47% of
our population who pay *no* federal income taxes.

He defines it exactly as he thinks Harry would...

Actually, I was trying to avoid a **** storm.

On 7/24/2011 9:13 AM, John H wrote:
On Jul 23, 9:35 pm, wrote:
On Sat, 23 Jul 2011 20:58:14 -0400,
wrote:

On 7/23/11 7:55 PM, LilAbner wrote:
On 7/23/2011 7:45 PM, John H wrote:
http://tinyurl.com/3r5l8ur
I wonder if the Democrats realize that it doesn't take a 'yacht' to
have a head, stove, and bed.
Hell, I had that in my 21' Proline.
If they want to do away with a second home mortgage interest
deduction, then do it for *all* second
homes.
All boats and all second homes over a certain value...that'll do it.
What if you travel around in an RV and trailer a boat?

What if you live on your large yacht and have a very big dinghy?

LOL
Please read your post. At what are you laughing?

What if???
Sometimes you see insane people laughing a lot for no reason other than,
the bats in their bellfry amuse them.

In article ,
says...

http://tinyurl.com/3r5l8ur

I wonder if the Democrats realize that it doesn't take a 'yacht' to have a head, stove, and bed.
Hell, I had that in my 21' Proline.

If they want to do away with a second home mortgage interest deduction, then do it for *all* second
homes.

Why do they pick only on boat owners?

My new yacht has two heads and two showers. It's the best of the best. I
wonder where my lobsta' boat went?

In article ,
says...

On Sun, 24 Jul 2011 09:35:45 -0400, I_am_Tosk wrote:

In article 755e3f2f-d08f-4c7d-a527-
, says...

On Jul 23, 11:01*pm, North Star wrote:
On Jul 23, 8:45*pm, John H wrote:

http://tinyurl.com/3r5l8ur

I wonder if the Democrats realize that it doesn't take a 'yacht' to have a head, stove, and bed.
Hell, I had that in my 21' Proline.

If they want to do away with a second home mortgage interest deduction, then do it for *all* second
homes.

Why do they pick only on boat owners?

What the 'ell are you whining about??
We don't get a mortgage interest deduction on our income taxes for our
principal home.. let alone cottages or boats.
No wonder the USA is in such deep debt.... no one wants to pay their
fair share of taxes.

Donnie, how do you define 'fair share'. Remember, we have about 47% of
our population who pay *no* federal income taxes.

He defines it exactly as he thinks Harry would...

Actually, I was trying to avoid a **** storm.

Doesn't change the fact that Don will say whatever he thinks will troll
out the "other side"...

--
Team Rowdy Mouse, Banned from the Mall for life!

On Sun, 24 Jul 2011 09:45:25 -0400, Florida Jim wrote:

On 7/24/2011 9:15 AM, John H wrote:
On Jul 23, 9:44 pm, Florida wrote:
On 7/23/2011 9:35 PM, wrote:







On Sat, 23 Jul 2011 20:58:14 -0400,
wrote:
On 7/23/11 7:55 PM, LilAbner wrote:
On 7/23/2011 7:45 PM, John H wrote:
http://tinyurl.com/3r5l8ur
I wonder if the Democrats realize that it doesn't take a 'yacht' to
have a head, stove, and bed.
Hell, I had that in my 21' Proline.
If they want to do away with a second home mortgage interest
deduction, then do it for *all* second
homes.
All boats and all second homes over a certain value...that'll do it.
What if you travel around in an RV and trailer a boat?
What if you live on your large yacht and have a very big dinghy?
LOL
Eliminate all mortgage interest deductions. That'll do it better.
At least it would be fair across the board. Might not be popular and
might have a somewhat detrimental impact on the housing market. It
would probably help the rental market though.
Fair would be nice.

Agreed.

There is no housing market currently.

Actually there is, but it would get a hell of a lot worse without the interest deduction.

Why should the IRS be involved in giving perks for taxpayers receiving
loans?

Already discussed. The IRS didn't do it, our presidents and congressfolk did it.

At current loan rates, are we talking a lot of money in interest deductions?

Well, look at this:

Basic info
Interest rate [?] 4.250%
APR (annual percentage rate) [?] 4.560%
Loan type [?] 30-year fixed
Points [?] 0.500
Loan amount [?] $400,000
Pre-payment penalty [?] None
Lock period [?] 30 days
Monthly payment
Principal & interest [?] $1,967

Now, $400,000 divided by 360 payments gives $1111 as the amount towards principal, which would leave
$856 of interest paid each month. That would give me a deduction of $10,272. That's a pretty
significant deduction.

The IRS is trying to manipulate our lives with deductions, exemptions,
and credits.

Not the IRS, your president and congressfolk.

*It's not fair*

That's what I said up front!

On 7/24/11 10:01 AM, I_am_Tosk wrote:
In ,
says...

On Sun, 24 Jul 2011 09:35:45 -0400, wrote:

In article755e3f2f-d08f-4c7d-a527-
, says...

On Jul 23, 11:01 pm, North wrote:
On Jul 23, 8:45 pm, John wrote:

http://tinyurl.com/3r5l8ur

I wonder if the Democrats realize that it doesn't take a 'yacht' to have a head, stove, and bed.
Hell, I had that in my 21' Proline.

If they want to do away with a second home mortgage interest deduction, then do it for *all* second
homes.

Why do they pick only on boat owners?

What the 'ell are you whining about??
We don't get a mortgage interest deduction on our income taxes for our
principal home.. let alone cottages or boats.
No wonder the USA is in such deep debt.... no one wants to pay their
fair share of taxes.

Donnie, how do you define 'fair share'. Remember, we have about 47% of
our population who pay *no* federal income taxes.

He defines it exactly as he thinks Harry would...

Actually, I was trying to avoid a **** storm.

Doesn't change the fact that Don will say whatever he thinks will troll
out the "other side"...



If you cut a hole in the bottom of your rowboat and screwed a toilet
seat onto it...and if you carried and didn't drink a can of squeeze and
if you brought that inflatable mattress aboard...you, too, could deduct
second home mortgage interest.

Has the Rancid Mouse Racing Team posted any victories yet in serious races?