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I dont think we need to eliminate them, just have them only apply to a primary residence.
by devmor 4y ago
I dont think we need to eliminate them, just have them only apply to a primary residence.
- ilyt 4y agoYeah the person finally getting enough to own a house is not enemy here
- BenFranklin100 4y agoThey positively must be eliminated on the primary residence if want to halt the financialization of personal homes. Why should the related well-off be given a tax break anyway? It’s regressive. The US is one of the very few countries that allow mortgage interest to be deducted: https://www.progressivemaryland.org/home_mortgage_interest_deduction_is_regressive https://www.progressivemaryland.org/home_mortgage_interest_d...
- devmor 4y agoI don't think someone buying a home for their family should be considered "well-off". That should be our base standard of living. The US is also one of the only countries where mortgages are so expensive. We wouldn't need the tax breaks if housing prices were low, I suppose.
- maxerickson 4y agoTo the extent that they probably put upward pressure on housing prices, we should eliminate them.