Showing posts with label Peter Dreier. Show all posts
Showing posts with label Peter Dreier. Show all posts
Saturday, October 3, 2009
Saturday, February 28, 2009
Mortgage Deduction Inefficiency
Awhile back I linked to an article by Peter Dreier about the mortgage interest deduction.
President Obama has proposed to cap the mortgage interest deduction for high-income taxpayers.
The National Association of Home Builders (NAHB) and the National Association of Realtors (NAR) oppose this purely out of self-interest. They also felt there wasn't a housing bubble. No doubt their self-interest in continuing to build an sell price-inflated homes led them to believe such. So, at this point, their opinions can be discarded.
As many unbiased sources have stated, some other nations don't have this silly high-income homeowner subsidy and we would probably be better off discarding the deduction altogether.
President Obama has proposed to cap the mortgage interest deduction for high-income taxpayers.
The National Association of Home Builders (NAHB) and the National Association of Realtors (NAR) oppose this purely out of self-interest. They also felt there wasn't a housing bubble. No doubt their self-interest in continuing to build an sell price-inflated homes led them to believe such. So, at this point, their opinions can be discarded.
As many unbiased sources have stated, some other nations don't have this silly high-income homeowner subsidy and we would probably be better off discarding the deduction altogether.
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