Taxes Archive

Mortgage Interest Deduction Facts

There is some talk that the mortgage interest deduction, or some portion of it, is on the table for a cut in the grand bargain over the debt ceiling debate.  Here are some figures on the mortgage interest deduction...

High Corporate Profit but Low Business Spending

Large companies are doing well.  Corporate profits bounced back very strongly after taking a hit in 2008 and are now at record levels.  The chart below is a standard measure of profits after taxes and after some necessary accounting...

Mortgaged and Non-mortgaged Home Owners by State

Experts often cite the fact that only about half of homeowners take a deduction for mortgage interest (MID) on their taxes each year. Technically speaking, this information is not wrong, but is it useful? In the chart, calculations of...

American Attitudes about Mortgage Interest Deduction

Over one-third of homeowners report the mortgage interest deduction helps their family very much or a great deal in today’s economy. Over half of homeowners report that owning a home would be less attractive to them if mortgage interest...

Mortgage Interest and Real Estate Tax Deduction Facts

In recent weeks, many proposals, suggesting a variety of changes to the tax system, have been discussed. The estimates below are for the complete elimination of these two tax benefits at current marginal tax rates, one of the most...