Wednesday, August 11, 2010

Home ownership for qualified people is still a great goal. Notice how everything becomes grist for the tax mill

Feds rethink policies that encourage home ownership

After beginning the article with a sensible discussion of the mortgage crisis brought on the successes of left-wing groups like ACORN and their race baiting allies we get to the real purpose of the story raising taxes.

"Other critics say eliminating or overhauling Fannie and Freddie isn't enough: The government must reconsider such bedrocks of housing policy as the mortgage interest deduction and the tax exemption of most capital gains from home sales.

They say these misguided or outdated government policies encourage the United States to massively overinvest in housing, shortchanging other parts of the economy. "There's only so much subsidy to go around at the end of the day," Katz says."

Is the goal Section 8 housing for everybody. That certainly would be redistributive.

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