[silverleaf]

The deduction is the second-largest federal tax expenditure

Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/09/03/MN101KRFD4.DTL#ixzz1X08s2zgY

There you go- the underlying philosophy that your money belongs to the government and any that it lets you keep, is an “expenditure” by the federal government

BTW- I doubt if any of those pricey houses pictured in the article even have mortgages

Mortgage interest deduction helps the middle and upper middle class. Let the “super committee” tell obama it is OK to suck away extra tens of thousands of income the middles and upper middlers are now using to pay for housing (and qualified for their loans by assuming) ... give it to the feds to waste....and watch what happens.

No mention in this article that the AMT already bites people in this income group and limits all deductions

[rfp1234]

Another brilliant idea by liberal turkeys. Let’s wreck home prices
even more, they haven’t dropped fast enough.

[9YearLurker]

The deduction grossly distorts the market and our country’s fundamental investments, thus productivity. There’s got to be an offsetting drop in tax rate to right the problem, however.