mortgage interest: Fair is foul and foul is fair, so let's kill the mortgage deduction - 03/23/14 02:04 AM
Shakespeare described the future tactics of our political leaders with the Weird Sisters' chant.  In its never ending quest for something deceptively called fairness, members of the Washington gang of 535 plus one often speak of tax reform.  They say they want to increase revenue by cutting taxes and blah, blah, blah.
They often speak of "eliminating loopholes" while doing their fairness dance.  Sometimes they mention that one of those loopholes is deductible mortgage interest expense.  What is missing from their discussion, at least in public, is that each exception to the tax code was put there to benefit the nation … (10 comments)

mortgage interest: Let’s stop rewarding bad behavior - 02/05/10 05:01 AM
 The principal residence mortgage interest tax deduction in its present form rewards homeowners with low equity in their homes.   Homeowners with little or no debt are paying a disproportionate share of taxes because they are acting responsibly.  Tax policy should be adjusted to give all homeowners a credit, not just those who have incurred debt.  We are somehow deluding ourselves into thinking that tax policy that encourages debt somehow encourages home ownership.  Actually, it just helps banks.
My proposal is that a tax credit of 1% of the purchase price of the home be given to all homeowners, annually, for as … (4 comments)

 
Mike Carlier, More opinions than you want to hear about.

Mike Carlier

More opinions than you want to hear about.

Lakeville, MN

More about me…

Office: (612) 916-3033



Listings

Links

Archives

RSS 2.0 Feed for this blog