Supply-Side Economics

[Rajoo]

Originally Posted by whell

Not to make light of your additional tax costs, but there are probably some devout leftists (and maybe some fiscal conservatives if there are any left) who'd ask why the gov't should be subsidizing your 2nd home with a tax break. The tax treatment of mortgage interests (also, as an aside, an interesting example of supply-side theory in action) was intended to lower the overall cost of owning a home to make a home purchase more manageable and more attractive to more people. It became essential fabric of the US tax code, until it wasn't after a stroke of a pen in Washington.

So why give a tax break to those who don't need it since you argue that my second home, or for that matter primary home need not be subsidized? Even worse is calling it a "Middle class tax cut" while only the top 1%, actually the top 0.1% benefited. And where did the money come from?