Quote:
Originally Posted by Rader
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Personally I own my house and have benefited from the mortgage interest deduction. But I would rather have a simpler tax code with lower rates overall. And why are the bleeding hearts not complaining about how regressive the mortgage interest deduction is? Renters have to suck up and pay rent with no tax benefits, but own your home and get a big tax benefit? Oh yeah, that might lose your side votes, can't have that.
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Your going to love this: there is a popular academic opinion that it is racist because whites are way more likely to get a mortgage and pay it off. Technically -- some of that tax money is money from people that can't afford a house going to people that can (but a lot of these people get more back from the government than they pay in). But you can argue its regressive to poor. Or that it is racist because poor blacks are paying taxes and can't afford houses while this helps white people that can afford houses.
Edit: Just to give this argument its best front, it's worth pointing out blacks live in cities often. It's fucking unaffordable to buy houses in a lot of these areas. They don't live in the suburbs because they are less comfortable with the culture there and have less connections etc. So even if you make OK money -- no way you gonna get a house bro. You got to the man these days to buy a house in a big city.
Meanwhile Whitey McRichardson and his white-acting wife buying a $2,000,000 Condo get the deduction because its their first home / primary residence.