No sh!t Sherlock. What about the income that is taxed every year to make mortgage payments and the the increasing property taxes? Does inflation occur to you? Yes those items do give some small tax writeoff's but you don't end up making out enough to GIVE away 43% of your profits in the end. And God forbid you f vck yourself with positive cash throw off. WTF is the point in making profit on anything only to have to give damned near half of it back or play a perpetual shell game.
Do you ever wonder why entire areas turn into slums? It's the de incentivizing effects of over taxation set in place by irresponsible spending Left wing politicians. Just look at the areas where this occurs. Good Lord man don't you like keeping your money? The tax system in this country is f vcked as it is and just begs people to find loop holes. Charge a decent rate(5-10%) and get rid of all he loop holes.
I don't disagree, but it's never going to happen. That's why you see the Goldman(and others) infiltration into the federal government, to help shape policy. The smart minds, which will always go into the private sector not public service, are going to make sure they keep the majority of their money, exercising loopholes and strategies that end up being extremely beneficial to them. The end result serves two purposes. They win(which they were going to all along anyway) and politicians can stand on their soap boxes decrying those loopholes, all while being paid off. Your way makes sense, but comes with a major flaw. It doesn't makes things "equitable" and the people who aren't successful but insist that they should enjoy the same lifestyle as the those who are, will continue to complain. And the politicians that have vowed to fix that disparity would have nothing to pitch any more. It's just easier this way.
And while I don't really share 78's ultra casual views on the matter, I do think he's correct in saying you have to just accept it and put in the extra work to cover yourself. No different than watching people file their taxes in 15 minutes and having a refund in the first week of Feb vs pouring over files for months, having multiple meetings with your accountant and waiting until the last possible second to write a check. On the surface it sucks and is obviously much more laborious, but it's certainly the better of the two alternatives.
Anyway, forget all this wasted energy and focus on getting BMF a mortgage.