Archive for the ‘mortgage deduction’ Category

Why Eliminating The Mortgage Interest Deduction Won’t Matter

March 18, 2009

When the Obama administration proposed that we lower the deduction for mortgage interest for those in the 33 and 35% tax brackets, you would have thought that he demanded people give up their first born.  But if we step back for a minute and get away from the hysteria that is sweeping the airwaves, we will realize that giving a tax break for mortgage interest does nothing to benefit anyone except mortgage bankers and real estate brokers; it certainly does not benefit home buyers.