What If You Woke Up One Day And Discovered You Were….Average!

Well, now you know all there is to know about me.  I’m an Average American.

From the story on Reuters:

Aug 10 (Reuters) – What if the United States got rid of or changed the home mortgage interest deduction in the next round of tax reform?

……With that in mind, Reuters Money asked average Americans – along with a few financial advisers – what they think.

And who should show up as one of those Average Americans?

Randall Ringer, co-founder of branding firm Verse Group in New York, compares the idea of taking away the home-mortgage deduction to what happened when the deduction for interest on student loans was eliminated by the 1986 tax reform. (It has since been reinstated.). He recalls how he took on debt to pay for school on the assumption that it would always be tax-deductible. “After I graduated, wham, they took away the tax deduction. It felt like a bait-and-switch scheme,” says Ringer, who used to own and now rents. “It’s beginning to sound like they want to do the same thing with home ownership.”

Oh, had I only grown up in Lake Wobegon where all of the children are above average!

Well, average or not, I stand by the statement I made.  Oh, and by the way, my student loans have all been repaid.

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