From Scott Burns:
They are the most treasured of all the sacred cows in taxation.
Threaten them and you will be reviled. Mention that they are
becoming irrelevant and your sanity will be questioned.
Yes, I’m talking about home mortgage interest and real estate
taxes as beloved itemized deductions. I’m also saying that it
is time for them to go.
I’m serious. Please bear with me for a few minutes before
throwing the rotten tomatoes.
...The mortgage and real estate tax deductions have become perverse
While tax breaks in high cost areas allow some upper middle income
households to own houses, the tax breaks have nothing to do with what
Congress originally intended, which was to increase the rate of home
ownership for the middle class. Read more
My guess is that Scott gets pummeled with rotten tomatoes.