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The point of the article is that the upper middle class is profiting disproportionally from the MID, while the poor don't. From the article: > What this means
by pg314 9y ago
The point of the article is that the upper middle class is profiting disproportionally from the MID, while the poor don't. From the article:
> What this means in aggregate is that households with at least six-figure incomes receive more than four-fifths of the total value of mortgage interest and property-tax deductions.
Your arguments about the "rich" and multi-billionaires miss the point.
- spaceflunky 9y agoBut are "upper-middle" class really the problem here? Again, look at the distribution of mortgages, at most someone is writing off like $40k worth of interest, which will net them $20k a year. Does that really make the whole housing market that much more expensive? Why not attack the bigger problems, like off the top of my head... how housing has become a commodity and large equity firms and snatching up real estate... the amount of foreigners buying homes... the fact that we've barely built ANY housing in major cities in the past 30 years... how our population has grown significantly, but our housing stock hasn't... how people are living longer and staying in their homes longer for lack of better options...