The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Tax Bubble||Date: 6/11/1997 10:41 AM|
|Author: TMFTaxes||Number: 51 of 119693|
<<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...
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