| People with trailers are not benefiting from the mortgage interest deduction. The mortgage interest deduction overwhelmingly benefits households earning over $100,000 per year. Only one in five tax filers take the mortgage interest deduction, the extreme majority are in that $100k+ income bracket. The substantially increased standard deduction is far more important than the MID for the middle class. Cutting the MID tax break for the top 1/3 of earners, is what will help pay for raising the standard deduction that is a huge benefit to the bottom 2/3 of earners. https://www.cnbc.com/2017/08/31/that-beloved-mortgage-deduct... "Mortgage Interest Deduction Saves Middle Class Taxpayers All Of $51/Month" "Most of the MID 2012 tax benefits went to people making six figures or more. Households earning over $100,000 in 2012 claimed 77.3 percent of the total MID tax savings, essentially the same as in 2010. And just looking at those making $200,000 or more, we found the very top earners claimed 34.6 percent of the total MID benefits and saved $5,021 on average for 2012." https://www.forbes.com/sites/realspin/2013/12/18/mortgage-in... |