06-22-2015, 06:01 PM
(06-22-2015, 05:56 PM)michaelsean Wrote: You said the mortgage interest deduction is pandering to the wealthy when it helps millions of people.
It is pandering to the wealthy because it benefits them much more than the middle and lower classes.
Not only do the wealthy have larger mortgages, but the deduction is worth more because they are in higher tax brackets. A $10K deduction is worth $2500 to a person in the middle class but worth almost $4000 to a person in the top bracket.
