Posted: Apr 29, 2005 By: PATRICK J. FORKIN


Comment: Mortgage interest deductions on homes other than the taxpayer's PRIMARY RESIDENCE should be discontinued. The mortgage interest deduction on secondary residences is discriminatory and is designed to accommodate Washington D.C. legislators and lobbyists who also maintain residences in their home districts or domains. This secondary interest deduction is nothing less than a TAX SHELTER which deviates from the original intention of the home mortgage interest deduction; namely, to assist the younger generations and the less economically fortunate with an opportunity to achieve home ownership. The cost of this tax giveaway to the PRIVLEGED is enormous and definitely not equitable.