Anyone complaining about the "welfare state" in America, needs to look at their tax return and see whether they aren't a worse offender.
Despite Benefit Disparities, Middle Class Supports Mortgage Deduction
Tax Expenditure of the Week: The Mortgage Interest Deduction
The mortgage interest deduction helps millions of middle-class homeowners. But it helps wealthy families much more.
If the purpose of the deduction is to encourage homeownership, one way to gauge its effectiveness is to see how well it targets the so-called marginal homebuyer, for whom a tax subsidy could mean the difference between being able or unable to afford a home purchase.
It turns out the mortgage interest deduction is poorly targeted according to this criterion. Households with incomes between $40,000 and $75,000 receive, on average, $523 from the mortgage interest deduction. Households with incomes above $250,000 receive $5,459, or more than 10 times as much.