Strapped Governments Look for “Honey Pots” “Because that’s where the money is.” –bank robber Willie Sutton, explaining why he targeted banksFor the same reason Willie Sutton robbed banks, financially strapped governments (federal and state) inevitably are going to revisit the home mortgage interest deduction as they seek to close record deficits. (Also getting scrutiny: deductions...Read More
Gov’t. Financial Squeeze = Homeowner Squeeze? The mortgage-interest deduction has been a political no-go zone for decades. The same for local property-tax write-offs. But with billowing deficits and the need to raise trillions to help pay for health-care reform and the economic stimulus bills, somewhere, somehow, Congress is going to be pressed to raise revenue....Read More
