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View Diary: Killing Sacred Liberal Cows, or What Economists Think About the Economy (105 comments)

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  •  The real problem with any of discussion (1+ / 0-)
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    on the mortgage deduction is nobody wants to talk about the group that benefits most from it -- banks. As you mention, they can raise the rates because they can convince homeowners they'll "make it back in tax deductions". But as I point out, that isn't always the case. So the real advantage to removing the deduction would be to remove a huge cash cow for the banking industry. Of course there's another way to do that -- regulation. Prevent the banks from jacking up the mortgage rates to artificially milk profits from government on the backs of middle class homeowners.

    To me progress is not so much a goal as it is a process and I believe it will not follow a straight course. Remember, the drops of water that form the river may not take the shortest path but they will still reach the ocean.

    by ontheleftcoast on Thu Nov 15, 2012 at 12:16:58 PM PST

    [ Parent ]

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