[BenLurkin]

What it the purpose for a an interest deduction on a vacation home?

[freedomfiter2]

It’s so that urban wealthy can live in the city while also buying up rural land, making it unaffordable for the people that actually live there.

[SoConPubbie]

What it the purpose for a an interest deduction on a vacation home?

To try and increase/spur home sales probably, but why the question?

If Romney truly was trying to solve the tax/budget problem he'd be proposing to drastically slash the size of Government while drastically cutting and simplifying the tax rates.

He'll do neither because he's not a conservative, but a Progressive Liberal.

Oh he'll make noise about something, but nothing of substance will ever come of it because in his heart he's not a conservative.

[BobL]

“What it the purpose for a an interest deduction on a vacation home?”

To encourage people to waste money on something not needed, so that they can feel good about sticking it to Uncle Sam. Why do you ask?

Actually, I wouldn’t mind seeing the entire deduction (first and second homes) done away with, just so we can start to get money from the middle class, and maybe get a bit closer to balancing the budget. Better yet, maybe leave the deduction and instead turn SS and Medicare into means-tested welfare programs. But do one of the two...because my kids are going to SUFFOCATE under this debt we’re running up today.

[Mamzelle]

Thought the same thing. If someone needs the deduction when interest rates are so low, maybe he shouldn’t be buying a second home.

[hinckley buzzard]

For many people the second home is a retirement investment. Work for decades, retire, sell out and move to a warmer cheaper location where you have a cabin or condo waiting for you.

Like many retirement investments, it has had interest deductibility as a tax advantage over the years.