High Income Homeowners Get Largest Share of Tax Benefits

Biggest houses and the highest incomes recieve the largest share of federal tax benefits for housing.

"Congress's bipartisan Joint Committee on Taxation recently" estimated that "homeowners will receive more than $116 billion in direct tax subsidies" in 2005. "Tax preferences for homeownership represent a significant chunk of the federal deficit, but they are so ingrained into home prices, mortgage affordability, housing construction and even local revenue systems that almost no politician on Capitol Hill -- or in the White House -- suggests publicly that they need to be pared back or terminated."

Thanks to Kurt Paulsen

Full Story: Tax Benefits Still Generous for Homeowners, But Biggest Incomes Earn the Biggest Share


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