Originally Posted By: stlhead

Person B:
Earns $1 mil a year
Property tax and interest on primary residence -$20,000
Property tax and interest on secondary residence -$20,000


I thought Stlhead was in error here - that you couldn't deduct Mortgage Interest on a secondary residence, but lo and behold he's RIGHT. Why in the world is this true? More welfare for the rich I guess... Since everyone is all excited about "means testing" the poor now, maybe we should be "means testing" all the rich guys too...

The mortgage interest deduction was intended to spur home ownership, but clearly folks with the "means" (like the example above) shouldn't be getting this housing stimulus, should they?

(clarity for those who get confused easily -- I'm *not* really arguing for the repeal of these deductions nor am I arguing for means/drug testing of all wanting to take these deductions... Just wondering why BD, et al, seem so fired up about making the poor prove their worth/need, yet are perfectly happy letting all the rich/white/homeowning people skate)
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