For the most part, I prefer to keep the free money unconditional. But perhaps we also need a special allocation of free money for home owners. Purists might protest, but here are some powerful reasons for adding this provision:
- The home mortgage deduction is incredibly popular. Political reality says we need to replace it with something.
- Home ownership may well make for good citizens. People with a stake in the neighborhood have more incentive to keep it up than renters.
- Property ownership begets respect for private property. Once upon a time the right to vote was limited to property owners. Government stayed small. There might be a connection.
So, anyway, see my new article series, and realize that the potential benefits of moving from a mortgage deduction to simply free money for home owners is enormous.
There is a conspiracy to rob retirees of a decent predictable income stream. The Bavarian Illuminati, the House of Rothschild, the Rockefeller Foundation and the Skull and Bones Club have subverted Congress and have sneaked through hidden legislation which funnels money to Wall St. wizards, money that should be going to Joe Sixpack’s retirement account.
Actually, there is a conspiracy, and it benefits Wall St. wizards, but it isn’t bankers behind it. It’s tightwad banking customers who want fee-free checking accounts and below market home mortgages. Congress, as the will of this truly massive conspiracy, have funneled trillions of tax dollars, and create the Federal Reserve system in order to comply. Were it not for this conspiracy, banks would need patient money to make mortgage loans. Mortgages would be more expensive, but the economy would be stable. And Joe Sixpack could get a good retirement income from simple bank CDs.
So, are you part of the conspiracy? If so, what is the secret handshake anyway?