06-20-2015, 01:15 PM
(06-19-2015, 03:34 PM)michaelsean Wrote: You didn't answer my question. I do much better with my mortgage deduction that I would with the standard deduction. Now if you don't think mortgage deduction is a legitimate thing, that's fine, but it benefits all home owners.
The mortgage deduction is a much bigger benefit to people who have bigger mortgages. It helps the wealthy much more than lower income classes. The standard deduction is so high now that you have to have a pretty large mortgage to come out ahead itemizing.
A private jet deduction would work the same way. Just because it helps all private jet owners does not mean it does not favor the wealthy over the middle and lower classes.
