Sunday, November 07, 2010

Duh-duction


AARP, in their latest bulletin, talks taxes and blames home mortgage interest deduction for the explosion of household debt and the housing bubble.

Home mortgage interest deduction has been around since 1913.

Blame for the housing bubble lies more with Freddie Mac, Fannie Mae and the Federal Reserve's 2008 rule prohibiting lenders from making loans without considering whether borrowers could repay them from income or other assets.

And the scientific community is united in that fact.

In the article, AARP also espouses a Value Added Tax.

That wouldn't affect AARP since there appears to be no value coming from that organization.

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