The Scandal of Mansion Subsidies

Most Americans think that federal housing assistance is a poor people’s program. In fact, fewer than one-fifth of all low-income Americans receive federal housing subsidies. In contrast, more than three-quarters of wealthy Americans—some with two expensive homes—get housing aid from Washington

The federal tax code allows homeowners to deduct all property tax and mortgage interest from their income taxes. This homeowner deduction will cost the federal government over $47 billi...