As pressure mounts on the Washington D.C. crowd to come up with spending cuts, the mortgage interest deduction (aka MID) is sure to become a target.
A recent article on DSNews.com contains some interesting, questionable comments.
Seth Hanlon, Director of Fiscal Policy for HUD, says the MID should “be looked at through the prism of a spending program.”
Since when does the mortgage interest deduction have anything to do with spending?
Then, there was the comment by Dean Stansel, Adjunct Fellow For The Reason Foundation (how do you get one of these jobs, anyway?) who said “75 percent of taxpayers don’t benefit from this at all”
Stansel went on to say that “the MID benefits those with higher incomes”.
hmmm . . . . . sounds like it benefits those who buy homes to live in with their families.
Tinkering with the mortgage interest is a thinly-veiled way to raise revenue at the expense of an already-fragile real estate market.Inside Real Estate Print This Post