Wednesday, December 29, 2010

Two Sides of the Mortgage Interest Deduction

The deficit commission is leaving no stone unturned it its search for solutions to our country's crushing debt problems. Recently scrutiny has been given to the nearly 100-year-old tax Mortgage Interest Deduction (MID). It is the one of the largest deductions in the U.S. tax code and is projected to be valued at $131 billion in 2012, according to White House estimates. Response to this idea has been vigorous on both sides of the issue. Here are two perspectives to consider, then you make up your own mind:

1. FOR eliminating MID
2. AGAINST eliminating MID

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