"vDo we want to use the tax code to subsidize home ownership? And, if we do, is the mortgage interest deduction the best way to do it? A new paper by my Tax Policy Center colleagues Eric Toder and Katherine Lim, along with Urban Institute researchers Margery Turner and Liza Getsinger, asks these provocative questions, and comes up with some surprising answers."
should we???? predicted it years ago - this is one of the final nails in the real estate coffin.
first they did away with financing, now gut the tax break. next will be the triple taxes (you must be rich to still own a home, right?)............and insurance companies are broke and owned by the government so triple the insurance fees on the home.
unemployment will DOUBLE by christmas DOUBLE and that means fewer homeowners no matter how the government spins it. Iwhen it doubles history will show that to be the start of Depression II)
property won't be worth anything for 20 years like after the first Depression. the very first tax deduction oilybama removed was the charity deduction ...............and now with the real estate deduction and all while real estate is on life support - rip off that band-aid.
(tax policy is used to encourage or discourage...............) Permalink