The rich get government handouts just like the poor. Here are 10 of them.
Joyce Park stashed this in Economics
You should of course aspire to get all these benefits for yourself... but just don't fool yourself that they aren't government handouts.
I like that floating tax shelter in its natural habitat!
You're right, these are government handouts.
The mortgage interest deduction for big houses and second homes.
Thanks to this tax break, the 5 million households in America making more than $200,000 a year get a lot more housing aid than the 20 million households living on less than $20,000. Deductions for mortgage interest incentivize people already capable of buying big homes to buy even bigger ones. This tax break applies as well to second homes (you only get one second home though!). Note: In the eyes of the Congressional Budget Office — the official word on this in Washington — the mortgage interest deduction is equivalent to the government offering you money, not you keeping your own money.