US Taxes: Mortgage Interest Deduction

Written: 11-Sep-12 By: Matthew F.

The mortgage tax deduction should be eliminated. Although no politician wants to tackle removing this deduction because of the support of special interests like banks, real estate brokers and home construction companies, it needs to go away. It provides incentives for larger houses and suburban sprawl and only benefits middle and upper class tax payers. The best way to eliminate this deduction is gradually over the course of ten years.

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