12.12.2012

MID = an upper class entitlement program



Who Benefits from the Mortgage Interest Deduction?
Excerpt:


[the] numbers show that the MID is primarily an upper class entitlement program. At the very least, the mortgage interest deduction should be phased out and the savings applied to deficit reduction. A better solution ... would be phasing out this deduction in its entirety and using the savings to give all taxpayers lower income tax rates. This is vastly preferable to giving a select few taxpayers an $82.7 billion tax benefit at the expense of the rest of the country.
Comment: I'm neutral on this. (Because our mortgage is paid off). Article has a lot of details

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