Lame Ass Tweet of the Day

Care of my first cousin, once removed:

The Republican tax bill caps the mortgage interest deduction at $750,000 for new mortgages. In California, seven counties have average home prices that are more than $750,000: Alameda, Marin, Orange, San Francisco, San Mateo, Santa Clara and Santa Cruz counties. #GOPTaxScam

— Sen Dianne Feinstein (@SenFeinstein) December 17, 2017

You know, there are any number of cogent reasons to oppose the Republican tax bill.

It’s bad policy.

It’s worse economics.

It is completely bereft of morality.

But arguing that because housing is over priced in California, largely as a result of Proposition 13*, that the tax bill is bad is the single most unconvincing argument that one can POSSIBLY come up with.

*Prop 13 requires that property taxes go up at a fraction of the rate of inflation, and as a result, people don’t downsize on paid off homes, because their taxes would double or triple. This reduces supply, and drives up the price, of housing.

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