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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