High Income Homeowners Get Largest Share of Tax Benefits

"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