Alas, the Mortgage Interest Deduction Won't Go Away
Attempting comprehensive tax reform is like trying to tug many bones from the clamped jaws of many mastiffs. Every provision of the code -- now approaching 4 million words -- was put there to placate a clamorous faction, or to create a grateful group that will fund its congressional defenders. Still, Washington will take another stab at comprehensiveness, undeterred by the misadventures of comprehensive immigration and health care reforms. Consider just one tax change that should be made and certainly will not be.
The deductibility of mortgage interest payments, by which the government will fo...
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