Mortgage Tax Break No Longer for the Middle-Class

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Columnist Brett Arends says the mortgage-interest deduction is becoming an increasingly regressive tax break aimed mostly at the upper class

December 26, 2014
Tax Break, Deduction, Loophole, Housing, Middle Class

The mortgage tax break isn’t helping many taxpayers, writes MarketWatch columnist Brett Arends.
 
The collapse of interest rates is making the tax deduction less and less valuable. After doing the math by calculating interest rate deductions based on a median-priced home, Arends argues that for millions of people, “the tax benefits are now virtually nil.”
 
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