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home mortgage interest deduction

Martin Dyckman: Home mortgage interest deduction, the third rail of real tax reform

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There’s a $71-billion federal welfare program that costs more than aid to needy families, more than the earned income tax credit for working families, and almost as much as food stamps, but goes in great measure to people who don’t really need it. I’m on that dole. You may be, too. It’s the home mortgage interest deduction, the largest of the loopholes in the tax code, and the one that almost nobody in Congress or the White House has the…

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