Yes, a Six-Figure Income Means You're Affluent

Economists and tax wonks almost universally share the view that benefits from the tax deduction on home mortgage interest flow mostly to the well-off, and do little for the economy at large. It’s one of those rare things that the right-leaning American Enterprise Institute, the sort-of-right-leaning Tax Foundation, the left-leaning Center on Budget and Policy Priorities and the centrist (or sort-of-left-leaning) Urban-Brookings Tax Policy Center all can agree on.

I did find a guy at Heritage Foundation, which leans quite far to the right, who defends the deduction, but he does so on the principle that all interest payments should be tax deductible (because those charging the interest are paying taxes on their profits), not on the basis of any empirical evidence.1464895141401