Who Benefits from Mortgage Deductions?

The Tax Reform Act of 1986 ended personal deductions for interest on credit card debt and other types of loans, but continued the home mortgage interest deduction, a popular tax expenditure. Supporters claim it makes home ownership more affordable for low- and middle-income families. Critics argue it subsidizes high-income earners who would have bought homes even without the tax advantages. How do different income groups benefit from this and other mortgage-related deductions? And could these tax incentives be structured to better achieve their objectives? - See more at: http://www.ncpa.org/pub/who-benefits-from-mortgage-deductions#sthash.cbCJr6Yw.dpuf

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