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| | Tax revolt - Greater Baton Rouge Business Report (Site not responding. Last check: 2007-10-13) |
 | | The more expensive their house, the more they can deduct, and the higher their tax bracket, the more each dollar of deduction is worth. |
 | | According to a recent Brookings Institution study, taxpayers in the lowest fifth of incomes who claim the deduction cut their tax bills on average by 0.3%; in the top fifth, filers save 4.9%. |
 | | Using the same set of assumptions as before, under the reformed deduction a family in a $100,000 house would be unaffected, and the guy in the $50,000 house would actually gain $2,000 in buying power, because the rate on his deduction would rise from his bracket's 10% to the reform's flat 15%. |
| www.businessreport.com /newsDetail.cfm?aid=7335 (1139 words) |
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