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It also encourages debt and is effectively a subsidy to banks
by aceon48 8y ago
It also encourages debt and is effectively a subsidy to banks
- AnthonyMouse 8y ago> It also encourages debt and is effectively a subsidy to banks I have no idea who is downvoting you. That's absolutely correct. If they really wanted to subsidize ownership they would make it tax deductible to pay down principal. (And then give you zero tax basis so it's all taxable income when you sell, and cap the maximum sunk deduction per person at the median home value so rich people don't buy twelve houses to avoid their taxes.)