Ira Pfeifer

Tax vs. Interest Rate Cuts

What is the rate of home ownership among the bottom 50% of the population? I'll bet you my tax refund it's lower than that of the top 50%. In fact, with ARM resets pushing the subprime buyers (who are mostly among that bottom 50%) out of their homes, it's probably lower every day. So how does a property tax cut help those lower income brackets for whom you're advocating assistance? Or rather, does it help them more than it helps the rich? I doubt it.