Re:A Basic Income Is Smarter Than a Minimum Wage
by msellout on Monday April 04, 2016 @03:59PM
(#11424997)
Mortgage interest deduction also inflates home prices, benefitting home sellers and harming everyone else. A home buyer might think they're benefitting, but in fact the seller simply increased price until the deduction was of net zero benefit for the buyer.
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Re:A Basic Income Is Smarter Than a Minimum Wage
by alttab on Monday April 04, 2016 @04:01PM
(#11425029)
What are you talking about? Mortgage interest deduction determines how much money a private person pays in taxes to the federal government each year, relative to their income minus deductions. It does not directly impact home sale price.
Re:A Basic Income Is Smarter Than a Minimum Wage
by marrington on Monday April 04, 2016 @06:54PM
(#11426401)
The National Association of Realtors argues that removing the mortgage interest deduction would reduce home values by 15%. There are likely other less biased studies as well but that was the first that I found during a quick search. More at https://en.wikipedia.org/wiki/Home_mortgage_interest_deducti...