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I'm sorry you see it that way, GD. So many tax incentives, subsidies and deductions were granted to temporarily promote certain behaviors. But when the need for such promotion was gone, people raised holy hell about the subsidies and deductions EVER being rescinded. That's not the way it's supposed to work.
Mortgage interest deduction was supposed to promote home ownership. If that's no longer a government goal, it's not an increase in taxes if the deduction is discontinued - although of course, one's overall tax bill may (or may not) go up following that event.
Yes, I understand the human perspective of a deduction or subsidy one thought of as permanent because it's been around for a long, long time. But how is it not a tax raise if private jet purchase deductions are discontinued, and IS a tax raise if mortgage interest deductions are discontinued?
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