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Political Factoid
Reasons the mortgage interest deduction
for homeowners should be eliminated:
- Encourages taking on more debt
- Discriminates against renters*
- Subsidizes one kind of spending
over others
- Favors upper income people**
- Costs the U.S. Treasury about
$100 billion a year.
| * |
Lower-income people are more likely to rent
and do not benefit.
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| ** |
Higher-income people are more likely to have
bigger houses with bigger mortgages
and benefit disproportionately.
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