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It doesn't, and that's why a large majority of economists were wholly against it.
by timw0j 9y ago
It doesn't, and that's why a large majority of economists were wholly against it.
- alexanderstears 9y agoThat's not true at all. Most economists agree that it's not optimal to tax-advantage home ownership over renting and most economists would agree that state and local tax deductions warp incentives and resource allocations away from where they'd be if the state and local taxes weren't deducted. The consensus opinion among economists is that the house version of the bill does reduce the amount of consumption that can be structured in a tax-advantaged way but that it's not appropriate to cut taxes right now.