The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies


Subject:  Re: Tax Bubble Date:  6/11/1997  10:41 AM
Author:  TMFTaxes Number:  51 of 127623

<<I agree about mortgage interest deductions. I've never quite understood why my two brothers who rent (and make less money than me) are subsidizing my house payment.>>

Because Uncle Sam, many years ago, decided that home ownership would be "good" for the country. Hence, the tax deduction as an incentive to purchase a home. A tax collection policy? Nope.

A social program? Yup.

And as noted in my last post, you could feel the same way about charitable contributions. You brothers, that probably can't itemize their deductions, are probably also subsidizing the contributions that you make to your favorite church, temple, or charity.

And so it goes...

TMF Taxes
Roy Lewis
Copyright 1996-2018 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us