
GOP scaling back the mortgage interest deduction hits the Californians hardests - kimsk112
http://www.latimes.com/business/la-fi-mortgage-tax-deduction-20170828-htmlstory.html
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orangecat
Amusing to see Democrats coming out in support of tax breaks for the wealthy.
The mortgage interest deduction is bad economics and bad social policy. It
effectively gives rich people extra money to outbid the less rich, driving up
housing prices for everyone.

 _The housing industry strongly opposes efforts to place new restrictions on
the deduction, arguing that would lead to lower housing prices_

This reminds me of an old SNL news segment about a proposed weakening of
privacy regulations: "Opponents of the change claim that it will allow
companies to invade people's privacy, while supporters say that it will allow
them to invade people's privacy".

