Sunday, March 05, 2006

NYT: Who Needs the Mortgage-Interest Deduction?

An intriguing reframing of the mortgage-interest deduction, with a lucid explanation as to why Bush's specially commissioned bipartisan tax panel was unanimous in suggesting eliminating it.

What the article fails to include is any data or perspectives on the secondary mortgage industry and to what extent the refinancing binge during Bush's first term was responsible for propping up the economy (or not).

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