Poll: Mortgage tax deduction
Households that currently pay income taxes at the 33% and 35% rates would only be able to claim deductions at the 28% rate. That means that for every $1,000 in deductions, a household in the top tax bracket would realize a tax savings of $280, down from the current $350. The proposal wouldn't take effect until 2011.
Supporters say it's a good idea because wealthier folks don't need subsidies to buy houses, while detractors -- including the National Association of Realtors -- say this would hurt the housing market at a time when it can't take more lumps.
I'm curious what you think about the mortgage deduction. Weigh in: