BY FROMA HARROP Letting homeowners deduct interest paid on their mortgages from taxable income makes no sense. It encourages taking on more debt, discriminates against renters, subsidizes one kind of spending over others and favors the upper incomes. It advances the questionable public goal of making more Americans into homeowners. And it costs the Treasury about $100 billion a year. Although the mortgage-interest deduction is bad policy on numerous fronts, neither party seems keen to […]
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