Eliminate itemized deductions on those making $250K or more?

[Kittycat]

Can someone fill me in? Is this proposal to completely eliminate itemized deductions or limit them? If it's to limit it - can someone please share a link for me so I can read about it. I tried google, but it kept returning a single ABC blog, then Freeper & Insanity Hannity threads.

For the record, no - we do not make $250K/year, and do not see that anytime in the near future. I'm just trying to educate myself on this - as it's starting to come up at another site I go to with conservatives. Thanks :D

For reference, ABC Blog:
http://blogs.abcnews.com/politicalpunch/2009/02/obamas-budget-a.html

[exboyfil]

1. If you are trying to stabilize home prices probably not the best

move. On a long term I can go for it for everyone since I am quickly approaching the point of being under the standard deduction anyway.

[Jeff In Milwaukee]

2. Many itemized deductions are phased out at high incomes...

I don't have a link to the current proposal.

[Kittycat]

3. But they're not eliminated, right?

So people with a mortgage/property - those types of traditional deductions will still be allowed? It's limit vs. eliminate that I'm dealing with - and I don't want to counter without knowing what is right. Eliminate all together sounded incorrect to me.

[FrenchieCat]

4. That's what happens now anyways......

they are eventually phased out, the more you make.....

I just think they are going to cap it off a bit earlier than
happens currently....is all.