Michael, not all societies give tax breaks to people who pay mortgages, and I hope the U.S. stops the practice soon. I did take economy courses in college (your remark was sort of condescending, incidentally) and understand that a stable middle class is good for a society. However, there are enough other reasons to own a home that are beneficial for an individual, that we do not as a society necessarily also owe him a GIFT. Builders build because they are motivated to make a profit. People have to live somewhere! Obviously a national sales tax would be more fairer to those who do not own homes, and also rewards those who are frugal. I don't know enough about it to take a position yet, however.
I thought you were going to provide some information about how Chile has structured its societal benefit package!!
n San Francisco, the average price of a small two-bedroom house in a safe neighborhood is pushing $300,000. The average family income here is about $65,000 a year. Statistically speaking, half the middle class here cannot afford ever to buy a house, no matter how hard they try. However, they are stable and productive citizens, and I find no logical basis why they should subsidize your mortgage interest GIFT with their higher taxes. They are giving to the economy in a very big way. As I said before, the GIFT you receive is unearned by you, and costs other taxpayers.
I made it quite clear that I was not absolutely sure what your position on welfare is, although I remember several very negative comments you have made. Would you like to clarify your position, so I do not make an erroneous assumption about it? |
