'Deficit Panel Targets Mortgage Interest Deduction'

Discussion in 'Economics' started by Wallace, Nov 12, 2010.

  1. "Among the proposals put forward by the Democratic and Republican co-chairs of
    President Obama's deficit commission is one idea that could hit homeowners where
    it hurts: reducing or eliminating the popular mortgage interest tax deduction.
    Tax breaks don't get much bigger than the mortgage interest deduction. Because of
    it, Americans will save $104 billion on their tax bills in 2011, said Bill Ahern, director
    of policy and communications at the Tax Foundation, a Washington, D.C.-based
    research group."
  2. sprstpd


    The mortgage interest deduction is just another behavior modification tool the government employs. It should be thrown out along with a bunch of other crap the government uses. However, no way in hell this deduction gets scrapped. The NAR would pay enough politicians off to bury the proposal.