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The Shame of the Mortgage-Interest Deduction - The Atlantic
'It might be one of the most important policies in the U.S. economy, but the mortgage-interest deduction sounds esoteric to most people. '
'Federal housing policy transfers lots of money to rich homeowners, a bit less to middle-class homeowners, and practically nothing to poor renters. '
' It’s hard to find a better exemplar of this sorry fact than the juxtaposition of America’s affordable housing crisis and the untouchable sanctity of the mortgage-interest deduction. '
'Since the value of the deduction rises as the cost of one’s mortgage increases, the policy essentially pays upper-middle-class and rich households to buy larger and more expensive homes. '
'But the MID isn’t just a symbol of housing policy falling prey to plutocracy. '
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[–] derram ago
https://archive.is/7DUuI | :
'It might be one of the most important policies in the U.S. economy, but the mortgage-interest deduction sounds esoteric to most people. '
'Federal housing policy transfers lots of money to rich homeowners, a bit less to middle-class homeowners, and practically nothing to poor renters. '
' It’s hard to find a better exemplar of this sorry fact than the juxtaposition of America’s affordable housing crisis and the untouchable sanctity of the mortgage-interest deduction. '
'Since the value of the deduction rises as the cost of one’s mortgage increases, the policy essentially pays upper-middle-class and rich households to buy larger and more expensive homes. '
'But the MID isn’t just a symbol of housing policy falling prey to plutocracy. '
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