" writes:

On Apr 17, 5:08Â*pm, Kurt Ullman wrote:
In article , Dan Espen
wrote:

Makes the mortgage more affordable.
In effect the mortgagee can pay more to the bank than he could
otherwise and the banks asset (the house) is more valuable.

I repeat, "Mortgage deductions serve multiple purposes
but one of them is welfare for banks."

Why do I have to explain such simple things?

Because they don't make sense economically? Under this scenario, then,
SS is really welfare for the banks because people spend the money using
their credit cards.

Yeah, I thought claiming that the home mortgage deduction
is welfare for the banks was a big stretch too. If you want to
claim that, then as you point out, you can make all kinds of
similar claims that are a big stretch too.

See my other post.

Sure you can distort anyone's words.

The mortgage discussion was just discussed on this evening's
PBS Newshour.

The "expert" identified the primary goal of the mortgage deduction
as "encouraging home ownership". The people that would fight repeal
were home builders and banks.


--
Dan Espen