Comments on: Casey Mulligan’s weird defense of the mortgage-interest deduction http://blogs.reuters.com/felix-salmon/2011/06/15/casey-mulligans-weird-defense-of-the-mortgage-interest-deduction/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: essay writers http://blogs.reuters.com/felix-salmon/2011/06/15/casey-mulligans-weird-defense-of-the-mortgage-interest-deduction/comment-page-1/#comment-54934 Mon, 13 Oct 2014 11:45:46 +0000 http://blogs.reuters.com/felix-salmon/?p=8666#comment-54934 6 Michael Kors Bags ROeZ Michael Kors Outlet GErD Michael Kors Handbags Outlet FSeG Foamposites For Sale GJeF Cheap Foamposites DEsS Michael Kors Factory Outlet FExF Michael Kors Outlet GShN Michael Kors Purses VGrW Michael Kors Handbags GOsE Michael Kors Outlet DGhG Coach Outlet Online FJhF Coach Factory Online VSdD Coach Outlet Online VOwF Michael Kors Outlet BqB Michael Kors Outlet WkX Michael Kors Handbags RfS Michael Kors Handbags TqU Louis Vuitton Handbags TiU Louis Vuitton Outlet TcB Louis Vuitton Outlet YfX Louis Vuitton Outlet TuB Louis Vuitton Handbags Tlo Coach Outlet Online EuU Coach Outlet Online TdX coach factory online Guo Coach Factory TqB Coach Outlet Online EtB Cheap Louis Vuitton EqU Louis Vuitton Outlet EyE

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By: thoma http://blogs.reuters.com/felix-salmon/2011/06/15/casey-mulligans-weird-defense-of-the-mortgage-interest-deduction/comment-page-1/#comment-27701 Sat, 18 Jun 2011 17:56:13 +0000 http://blogs.reuters.com/felix-salmon/?p=8666#comment-27701 the mortgage write encourages home ownership but is also a safety valve for those who have not or are unable to provided for retirement. The safety net is the downsizing or sale of home that will likely release saved equity. If you think its wise to abolish the deduction consider that there will be no safefty net, that there are no pensions except for goverment workers. Then the tax payer will be picking up the tab-
bottom line its worth preserving this incentive

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By: Moopheus http://blogs.reuters.com/felix-salmon/2011/06/15/casey-mulligans-weird-defense-of-the-mortgage-interest-deduction/comment-page-1/#comment-27640 Thu, 16 Jun 2011 13:33:59 +0000 http://blogs.reuters.com/felix-salmon/?p=8666#comment-27640 Here’s a state-by-state list of transfer taxes:

http://www.ncsl.org/default.aspx?tabid=1 2661

In most states, there is a tax, but it is much lower than the sales tax rate. In high-price areas, though, it can still amount to a fair bit of change.

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By: AHooks http://blogs.reuters.com/felix-salmon/2011/06/15/casey-mulligans-weird-defense-of-the-mortgage-interest-deduction/comment-page-1/#comment-27633 Thu, 16 Jun 2011 00:03:45 +0000 http://blogs.reuters.com/felix-salmon/?p=8666#comment-27633 Tax policy wonks would say that in a world of perfect information, a non-distorting income tax would permit deductibility of mortgage interest; but, the imputed rent of owner-occupied housing would be taxed, just as a landlord’s rental income is taxed.

Since imputed rent is hard to quantify (some countries like the Netherlands make an attempt), a second best option is to end the mortgage interest deduction. That makes the tax system less complex and more equitable.

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By: guanix http://blogs.reuters.com/felix-salmon/2011/06/15/casey-mulligans-weird-defense-of-the-mortgage-interest-deduction/comment-page-1/#comment-27626 Wed, 15 Jun 2011 18:00:08 +0000 http://blogs.reuters.com/felix-salmon/?p=8666#comment-27626 klhoughton: But houses are traded a lot more than cars. What is the sales tax on a used car?

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By: klhoughton http://blogs.reuters.com/felix-salmon/2011/06/15/casey-mulligans-weird-defense-of-the-mortgage-interest-deduction/comment-page-1/#comment-27625 Wed, 15 Jun 2011 17:40:21 +0000 http://blogs.reuters.com/felix-salmon/?p=8666#comment-27625 “In New York City, for instance, real property transfer taxes, plus the “mansion tax” on properties over $1 million, plus the mortgage tax, can amount to 4.75% of the purchase price between them.”

Uh, Felix, the sales tax I pay on lunch at Minar on 46th is 8.75%. So even with the “mansion tax,” you’re talking a 46% reduction in the tax rate. (Also, mortgage interest is NOT deductible on that over-$1MM amount–but you know that, don’t you?)

Similarly (and arguably more directly comparable, since in theory it will be held as long as a mortgage purchase), anyone who buys a car from a dealer in NYC pays registration (“transfer tax”), licensing (“mortgage tax”), AND NYC sales tax.

So getting all hyper about that part of Mulligan’s argument doesn’t make sense.

Mulligan has said enough dumb things in his NYT columns that he could contend to be your New Ben Stein–I doubt he would win; the NYT has gathered some idiots around Krugman, Reinhardt, and a few other sane voices–but what you’re citing makes him sound sensible.

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