wrote in message news
On Wed, 4 Sep 2013 19:13:52 -0400, "Mr. Luddite"
wrote:

You don't think the home mortgage tax deduction is a subsidy of home
ownership?

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No, I don't. I see it as a tax credit intended to encourage home
ownership for as many as possible.
It's not like someone else is paying the amount of the tax credit in
order for you to get it.

*That* would be a tax subsidy.


I agree with Harry, in fact I think I said it first. The mortgage
interest deduction is a subsidy and it gets paid for by renters or
cash buyers.

The subsidy actually benefits bankers the most.
It takes some of the sting out of interest rates and allows them to
sell bigger loans.
The homeowner may feel good when they write that big deduction on
their schedule A but it is just a fraction of their own money coming
back.

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You think? Take the mortgage interest deduction away and watch what
happens to overall federal tax revenues.