mortgage talk: Jordan vs. Liu, and much more.

[Enrique Diaz-Alvarez]

Greg Nowell wrote:
> 
>(interest paid on
> the mortgage is deductible from income taxes in the
> U.S., which means that your real interest cost is
> determined by your marginal tax rate, which in most
> middle class cases will be about 35% state 'n' federal)

Yes, but in order to get the deduction you have to give up the standard
deduction, which for a married couple is around $7,500, right? So you
are only getting 35% on any interest above and beyond $7,500. If you
have a mortgage under $100,000 (which is above the average morgage,
actually), you get no benefit from this tax scam, which is directed
exclusively towards the upper middle classes and the rich. In an
innumerate country, you can pass it off as

How many mortgage-related calculations actually take this little detail
into account?

-- 
Enrique Diaz-Alvarez            Office # (607) 255 5034	
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