FRINK Linked Data Fragments server

Matches in SemOpenAlex for { <https://semopenalex.org/work/W3121882847> ?p ?o ?g. }

• W3121882847 startingPage "219" @default.
• W3121882847 abstract "Tax experts have long indicted mortgage interest (MID) for distorting housing and mortgage markets and for inequitably distributing its benefits (Brazer, 1959; Paul, 1956; Surrey, 1958; Trammell, 1959; Ture, 1956; Vickrey, 1947). It creates a false baseline for cost of housing (Anderson, 2007; Bruce and Holtz-Eakin, 2001; Capozza, Green, and Hendershott, 1996; Hendershott and Slemrod, 1982; Poterba, 1984), encourages taxpayers to pay for homes with debt rather than with cash or financial assets (Gale, Gruber, and Stephens-Davidowitz, 2007; Poterba and Sinai, 2011; Sullivan, 2008), causes wasteful and unproductive misallocation of physical and financial capital (Gervais, 2002; Jorgenson and Yun, 1990; Mills, 1987; Taylor, 1998), and distributes benefits disproportionately to upper households (Brady, Cronin, and Houser, 2003; Carasso, Steuerle, and Bell, 2005; Eng et ah, 2013; Gyourko and Sinai, 2003; Sullivan, 2011; Toder, Harris, and Lim, 2009; Toder et ah, 2010). Furthermore, MID results in less economic productivity (Acharya et al., 2011), reduced labor mobility and greater unemployment (Caplin, Freeman, and Tracy, 1997; McCarthy, Van Zandt, and Rohe, 2001; Winkler, 2011), depressed real wages, and a standard of living (Sullivan, 2005). The MID is so damaging to economy that nearly every economist believes that the sure-fire way to improve competitiveness of American economy is to repeal mortgage interest deduction (Sullivan, 2005: 407).1The MID nonetheless remains wildly popular among American populace. Opinion polls reveal overwhelming support for preserving subsidy2 and equally strong opposition to eliminating or reducing its benefits,3 even to pay for deficit reduction.4 Politicians, too, remain committed to deduction, scared to disturb tax code's most sacred tax break (Birnbaum and Murray, 1987: 246), even as it siphons off more than $100 billion annually in forgone revenue (OMB, 2013).5Both public and pois are misinformed about importance of MID, largely because they are misled by MID's resolute supporters. Proponents of tax code's second expensive subsidy, chief among them real estate industry, participate in an endless campaign of misinformation and dissembling claims about MID's shared benefits. This campaign costs money-lots of money. In 2013, real estate industry spent nearly $82 million lobbying Congress and federal agencies.6 Of that amount, National Association of REALTORS® (NAR) spent nearly $38.6 million, making it second free-spending organization in terms of lobbying across all industries.7 In addition, both NAR and National Association of Home Builders maintain websites dedicated to oppos[ing] any changes that would limit or undermine MID8 and that further purport to show how subsidy benefits class and middle-class taxpayers.9Examining What MID Supporters SayEach of following sections highlights real estate industry's troubling false claims about MID. Each section focuses on supporters' inaccurate claims purporting to show how MID benefits taxpayers at all levels, and it scrutinizes tax subsidy's allegedly positive effects on wealth accumulation and financial security.The mortgage interest primarily benefits middleand lower-income families. (nar, 2013a)Supporters of MID deploy expansive definitions of middle-income and lower income households that defy any reasonable interpretation of two categories. According to U.S. Census Bureau, median household in 2012 (meaning of household precisely in middle of spectrum) barely exceeded $50,000 (U.S. Census Bureau, 2013a). That level, however, is not what real estate industry considers middle class, although a full two-thirds of taxpayers report incomes of less than $50,000 (1RS, 2013a). …" @default.
• W3121882847 created "2021-02-01" @default.
• W3121882847 creator A5045347604 @default.
• W3121882847 date "2014-01-01" @default.
• W3121882847 modified "2023-09-23" @default.
• W3121882847 title "Misinformed and Misled About the Benefits of the Mortgage Interest Deduction" @default.
• W3121882847 hasPublicationYear "2014" @default.
• W3121882847 type Work @default.
• W3121882847 sameAs 3121882847 @default.
• W3121882847 citedByCount "0" @default.
• W3121882847 crossrefType "journal-article" @default.
• W3121882847 hasAuthorship W3121882847A5045347604 @default.
• W3121882847 hasConcept C10138342 @default.
• W3121882847 hasConcept C120527767 @default.
• W3121882847 hasConcept C139719470 @default.
• W3121882847 hasConcept C162324750 @default.
• W3121882847 hasConcept C17744445 @default.
• W3121882847 hasConcept C190253527 @default.
• W3121882847 hasConcept C199539241 @default.
• W3121882847 hasConcept C2778126366 @default.
• W3121882847 hasConcept C2780808987 @default.
• W3121882847 hasConceptScore W3121882847C10138342 @default.
• W3121882847 hasConceptScore W3121882847C120527767 @default.
• W3121882847 hasConceptScore W3121882847C139719470 @default.
• W3121882847 hasConceptScore W3121882847C162324750 @default.
• W3121882847 hasConceptScore W3121882847C17744445 @default.
• W3121882847 hasConceptScore W3121882847C190253527 @default.
• W3121882847 hasConceptScore W3121882847C199539241 @default.
• W3121882847 hasConceptScore W3121882847C2778126366 @default.
• W3121882847 hasConceptScore W3121882847C2780808987 @default.
• W3121882847 hasIssue "1" @default.
• W3121882847 hasLocation W31218828471 @default.
• W3121882847 hasOpenAccess W3121882847 @default.
• W3121882847 hasPrimaryLocation W31218828471 @default.
• W3121882847 hasRelatedWork W137187963 @default.
• W3121882847 hasRelatedWork W1498606682 @default.
• W3121882847 hasRelatedWork W1501291327 @default.
• W3121882847 hasRelatedWork W1514598368 @default.
• W3121882847 hasRelatedWork W1598255677 @default.
• W3121882847 hasRelatedWork W1666914419 @default.
• W3121882847 hasRelatedWork W2018265887 @default.
• W3121882847 hasRelatedWork W2150587173 @default.
• W3121882847 hasRelatedWork W2179425375 @default.
• W3121882847 hasRelatedWork W2193866273 @default.
• W3121882847 hasRelatedWork W2327080968 @default.
• W3121882847 hasRelatedWork W2401724821 @default.
• W3121882847 hasRelatedWork W2407422737 @default.
• W3121882847 hasRelatedWork W2601181326 @default.
• W3121882847 hasRelatedWork W278587446 @default.
• W3121882847 hasRelatedWork W3124110338 @default.
• W3121882847 hasRelatedWork W3124826404 @default.
• W3121882847 hasRelatedWork W3125237575 @default.
• W3121882847 hasRelatedWork W76648051 @default.
• W3121882847 hasRelatedWork W2602722164 @default.
• W3121882847 hasVolume "16" @default.
• W3121882847 isParatext "false" @default.
• W3121882847 isRetracted "false" @default.
• W3121882847 magId "3121882847" @default.
• W3121882847 workType "article" @default.