Just how personal? Try about $1100-1400 per month tax increase personal. That figure comes from just two tax increases, my marginal rate going up and now, a proposal to end the mortgage-interest tax deduction.
I have two dwellings which qualify for mortage-interest tax deduction, and between them, the deduction runs to just South of $25K per year against my family taxable income of $102K. Were that to go away, first of all, my marginal rate, presently around 20% for the Federal side ( +9% for the State side), would rise one step, to 25% (but maybe 28% in the new scheme of things come January). The increase of 25% in my taxable income makes up the rest of the tax increase.
Five years ago, my primary residence was worth $460K by detailed appraisal/comparables. I owed $330K on it, so I had a positive equity of $130K. I had even more equity ten years ago, 60%, but I cashed out to buy two annuities for income in retirement. The annuities gave me enough income to buy my second "residence" (my cruising boat, "Lofoten Girl"). I carry a mortgage on the boat as well as the house. I've since paid down the primary mortgage to $270K, but that's all the house is worth, according to Zillow.
Then along came Barney "B-effin" Frank (D)umkopf-MA, and his Fannie/Freddie scheme, and trashed the real estate market, so I've lost most if not all of my equity (price drop of 40% in three years). If I put this home on the market, and paid a normal brokerage fee to sell it, it's doubtful I'd break even. I could be underwater by as much as $30K.
So, if the mortgage interest deduction goes away, I will just walk away and enter the rental market. The bank will get the house, and good luck to them trying to sell it in a crashing market.
I will not be alone when I walk. Real Estate Crash Two will make Crash One look like a ripple in the ocean.
If I have to soak up such a fiscal body-blow at the age of 70, I won't have much to look forward to, but, as I said, I won't be alone. My intent at that point would be to do everything I could to promote social chaos and make life miserable for those who made my life miserable. Having studied conflict management for the past 50 years or so, and worked in the field for over 40 years, I think I know how to manage that.
Yes. I'm civilized now because the Rulz allow me to be, even encourage me to be. When the Rulz are changed to make being civilized difficult to impossible, and encourage me to lose my civility and act out, the rule-makers will just have to accept that loss of civility, won't they? Multiply my case by millions of others, and soon the Government gets pushed into a corner by their own corruption. Their answer will be to turn to violent repression, and then they run into me, and the people I will lead, to end their hegemony. We will win, because it will be a war of a million fronts, and this Government can't fight on a single front against radical Islam just to save itself. They will have no chance defending against assymetrical warfare brought by the angry horde they will meet when they turn to repression to control their opposition.