Quote:
Originally posted by Penske_Account
In the real world I agree with the last sentence, but I stand on my belief that the government should not be in the business of incentivizing spending/saving/investment/estate planning decisions via the tax code. I see it purely as marxist distortion. And keep in mind, my one big deduction is my mortgage and I am against the mortgage interest deduction. The government should not be incentivizing home ownership at the expense of the rental market. If it stopped, more people might ascertain that renting was moire advantageous and then sink the money from the down payment/equity into other investments that could provide greater benefits to society as a whole.
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I agree it should not fiddle with the markets, but if it must fiddle, the interest deduction is damn sensible fiddling. If there's one thing the past decade has shown us its that Americans don't know how to invest. At least real estate is a (in comparison to others) low volatility market. The last thing we need is people out there betting their savings on what they read in Derivatives for Dummies.
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