Live Like A Canadian! Did the home mortgage interest deduction help cause the prolonged housing bust? They’ve got neither in Canada, which is suggestive. … Another reason to end the most un-endable deduction as part of a rate-lowering tax reform. (And it’s relatively easy to do. You could even compromise at allowing 80% of the deduction this year, with it losing 5% or so each year. Easier, anyway, than winding down Fannie Mae, which is another issue discussed in the linked piece.) … [via Newsalert]
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