Advanced Questions 16. The largest tax break for most Americans is the mortgage interest tax deduction, which allows homeowners to deduct from their taxable income the amount of money they pay in interest to finance their homes. This tax break is intended to encourage homeownership. Compare this tax deduction to a uniform tax credit for homeownership on equity and efficiency grounds.

Advanced Questions 16. The largest tax break for most Americans is the mortgage interest tax deduction, which allows homeowners to deduct from their taxable income the amount of money they pay in interest to finance their homes. This tax break is intended to encourage homeownership. Compare this tax deduction to a uniform tax credit for homeownership on equity and efficiency grounds.

Microeconomics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506893

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Chapter15: Income Inequality And Poverty

Section: Chapter Questions

Problem 7CQ

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