Word: ares
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Dates: during 1980-1989
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ARE your parents on the dole?
"Of course not!" you say. "My parents are hardworking, tax-paying citizens. They wouldn't think of taking a government handout."
But if your parents own a home, chances are almost one in two that they benefit from the most expensive welfare program in the country. It costs more than Medicaid. It costs more than unemployment compensation. It costs three times as much as Aid to Families with Dependent Children (AFDC...
It's very neat, very simple and very expensive. The mortgage interest deduction will cost the federal government some $32.2 billion this year, plus another $10.4 billion for home-owner property tax deductions. Although no checks are written, this money constitutes a huge subsidy--pure and simple--to homebuyers. When...
Not all subsidies are bad, of course, especially when they are intended to promote something as important as housing. But just like any other government program, housing subsidies should be efficient, progressive, and fair. Because the mortgage interest deduction is none of these, it ought be abolished.