If we eliminate the mortgage interest deduction, we can stop re-directing capital away from innovation. Working Americans will be free to spend, save, and invest according to their own perceptions of their needs and their sense of the future.<\/p>\n
I expect that eliminating the government incentives for spending on housing would promote dramatic innovations, making Americans more productive and allowing the economy to grow with renewed vigor. Instead of building up a Ponzi-scheme illusion of bubble-dependent wealth, we can genuinely improve our lives by allowing wealth to flow to where individuals perceive it will be best used.<\/p>\n
[….]<\/p>\n
In short, let’s unleash the genius of free markets on the capital of the American people simply by refusing to load the dice in favor of housing. Isn’t time to at least give the market a chance?<\/p><\/blockquote>\n
This is not what we will hear from the National Association of Realtors, of course, nor from very wealthy crocodiles shedding very salty crocodile tears.<\/p>\n
Oh, well. Here is the very best thing prosperous people can do for their country in this hour most dire:<\/p>\n
Get you fat, pouty lips off the welfare tit!<\/strong><\/em><\/p>\nIf you want to be free, stop pointing a gun at your own head…<\/p>\n","protected":false},"excerpt":{"rendered":"
President Barrack Obama released his proposed 2012 budget yesterday. The jeers greeting this event, from all wavelengths of the political spectrum, suggest that, at long last, people have finally begun to take the measure of this pathetic little man-boy. Even so, there is at least one tax increase in the midst of the typically Obamaesque […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[251,212,29,26,5],"tags":[],"class_list":{"0":"post-14109","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-big-mother","7":"category-flourishing","8":"category-group-therapy","9":"category-lending","10":"category-real-estate","12":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":7171,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/7171\/what-if-they-reduced-a-tax-deduction-hardly-anybody-gets-if-youre-the-fib-spinning-pinocchio-at-the-national-association-of-realtors-your-whole-make-believe-world-just-collapsed\/","url_meta":{"origin":14109,"position":0},"title":"What if they reduced a tax deduction hardly anybody gets? If you\u2019re the the National Association of Realtors and you’ve been spinning lies for decades about mortgage interest deductibility, your whole make-believe world just collapsed\u2026","author":"Greg Swann","date":"June 9, 2010","format":false,"excerpt":"Kicking this back to the top. It's news again. I wrote this post more than a year ago, but, per The Hill, the tax-deductibility of mortgage interest is back on the table:The popular tax break for mortgage interest, once considered untouchable, is falling under the scrutiny of policymakers and economic\u2026","rel":"","context":"In "Big Mother"","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":12198,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/12198\/if-the-national-association-of-realtors-were-to-back-the-repeal-of-the-mortgage-interest-tax-deduction-it-could-do-three-very-patriotic-things-it-could-reduce-the-debt-load-on-all-americans-help-co\/","url_meta":{"origin":14109,"position":1},"title":"If the National Association of Realtors were to back the repeal of the mortgage interest tax deduction, it could do three very patriotic things: It could reduce the debt load on all Americans, help consumers make wiser use of their money — and get itself off the dole!","author":"Greg Swann","date":"June 10, 2010","format":false,"excerpt":"I had thought I had said my piece yesterday about the move to repeal the mortgage interest tax deduction as a means of reducing the federal deficit, but today I feel I have not said enough. Here's what I would add: The National Association of Realtors should lead the charge\u2026","rel":"","context":"In "Egoism in Action"","block_context":{"text":"Egoism in Action","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/egoism-in-action\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":9901,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/9901\/do-today%e2%80%99s-home-prices-reflect-their-market-value\/","url_meta":{"origin":14109,"position":2},"title":"Do Today\u2019s home prices reflect their market value?","author":"Al Lorenz","date":"September 29, 2009","format":false,"excerpt":"Can you really look at a buyer today and tell them that they are buying their home at a good price?\u00a0 Sure, you can tell them how the price they are paying compares to what folks have been paying the last few months, or few years.\u00a0 But that doesn't mean\u2026","rel":"","context":"In "Dirty Laundry"","block_context":{"text":"Dirty Laundry","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/dirty-laundry\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":13753,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/13753\/this-article-is-a-waste-of-your-time\/","url_meta":{"origin":14109,"position":3},"title":"This Article is a Waste of Your Time","author":"Sean Purcell","date":"December 3, 2010","format":false,"excerpt":"The NAR has come out against the Debt Reduction Commission's recommendation to eliminate (actually, not eliminate but rather greatly reduce and alter) the mortgage interest tax deduction (MID)...\u00a0 Isn't that a shock?\u00a0 No? You knew those dip-shits at NAR would knee-jerk react to their sacred cow?\u00a0 Hey, I warned you\u2026","rel":"","context":"In "Big Mother"","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":10199,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/10199\/business-as-politics-no-way\/","url_meta":{"origin":14109,"position":4},"title":"Business as Politics? No way.","author":"Damon Chetson","date":"October 31, 2009","format":false,"excerpt":"I don't know where I am on the political spectrum.\u00a0 I don't think it's particularly important.\u00a0 But I know that if I took Robert Worthington's approach to my business, I would be out of a job.\u00a0 People come to me with problems.\u00a0 I try to help them resolve their problems\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":839,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/839\/if-retirements-called-your-golden-years-why-shouldnt-you-keep-the-gold\/","url_meta":{"origin":14109,"position":5},"title":"If Retirement’s Called Your ‘Golden Years’ Why Shouldn’t You Keep The Gold?","author":"Jeff Brown","date":"January 4, 2007","format":false,"excerpt":"If you're in the state\/fed combined tax bracket of 33.3% and your home mortgage is interest only at 6%, your after tax rate is 4%. But you knew that, right? And if your loan is say, $200K, then your annual interest deduction is $12k. At your 1\/3 tax bracket your\u2026","rel":"","context":"In "Investment"","block_context":{"text":"Investment","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/investment\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/14109","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=14109"}],"version-history":[{"count":4,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/14109\/revisions"}],"predecessor-version":[{"id":14113,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/14109\/revisions\/14113"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=14109"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=14109"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=14109"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}