GoodEnoughForMe
n.m.s.s.
While my position at said company is neither here nor there, this article was a breath of fresh air to someone stuck surrounded by Realtors who look at anyone suggesting a change in the Mortgage Interest Deduction with a glare as if they wished you'd sink through the ground to hell itself.
For those who are not familiar, the Mortgage Interest Deduction (MID) is a tax break that is based on the price of your home mortgage, increasing as the value of your mortgage does, and only capped at a whopping $1 million dollars. To put it simply; it's a massive, massive tax break you only get if you own a house, and the more expensive your house, the bigger the tax break is.
A large portion of American household wealth is tied up in home ownership that is then inflated in value through policy and subsidy (largely the MID), thus compounding the desire for home ownership and concentrating wealth in the hands of those who can easily afford it, while putting pressure on those who own homes to continue to influence policy to inflate the value. This middle and upper class house help has been a policy of both parties for decades, and our cultural obsession with owning a house, even given its exaggerated value, and a successful campaign to make lower income housing programs icky, but upper class housing programs not actually government help and instead nothing at all because hahaha f poor people, has helped drive the massive wealth gap that defines much of the racial economic divide in America.
Some key facts:
Question for the crowd; do you support the MID? Has it affected you in anyways? Do you currently utilize it? Have you hypocritically condemned housing support for the poor while being agnostic about it for those better off? And should we all agree to simply eat the rich?
For those who are not familiar, the Mortgage Interest Deduction (MID) is a tax break that is based on the price of your home mortgage, increasing as the value of your mortgage does, and only capped at a whopping $1 million dollars. To put it simply; it's a massive, massive tax break you only get if you own a house, and the more expensive your house, the bigger the tax break is.
A large portion of American household wealth is tied up in home ownership that is then inflated in value through policy and subsidy (largely the MID), thus compounding the desire for home ownership and concentrating wealth in the hands of those who can easily afford it, while putting pressure on those who own homes to continue to influence policy to inflate the value. This middle and upper class house help has been a policy of both parties for decades, and our cultural obsession with owning a house, even given its exaggerated value, and a successful campaign to make lower income housing programs icky, but upper class housing programs not actually government help and instead nothing at all because hahaha f poor people, has helped drive the massive wealth gap that defines much of the racial economic divide in America.
Some key facts:
Question for the crowd; do you support the MID? Has it affected you in anyways? Do you currently utilize it? Have you hypocritically condemned housing support for the poor while being agnostic about it for those better off? And should we all agree to simply eat the rich?
