What you said about the mortgage-interest deduction
As of a few minutes ago, half of you think the tax deduction for mortgage interest is good just the way it is.
Just over 20 percent of you believe higher-income homeowners shouldn't get the full deduction, 16 percent say no one should get a tax break for paying a mortgage and 10 percent say homeowners should continue getting their break if renters get one, too.
Of the remaining two votes, one was for lowering the tax break for all homeowners and the other was a write-in: "why not for renters too, but I also dont like any taxes period!"
As Wonk reader Tim points out, the limit the Obama administration proposed isn't the first cap on the mortgage-interest tax break -- it's a lower one. Right now, the limit for fully deducting your interest is $1 million for a mortgage and $100,000 for a home equity loan.






