Readers Respond: Mad about MID (Mortgage Interest Deduction)
(The letters are in response to a Dec. 13 editorial: "A deduction, endangered.")
"I agree with your article 100%. If the MID was taken away or modified, the housing industry (sales and manufacturing) would wipe out any positive growth in the current economy. This part of the economy is already on life support. I see it face to face every day in my job meetings with business owners of lumberyards and other wood-related businesses. Keep up the good fight."
— Jim Turner
PA Lumbermens Mutual Insurance Co.
"Loss of the mortgage interest deduction would affect every income level. No interest relief would mean little or no chance for young families to ever afford a home. Middle-income homeowners will have little or no discretionary money to save or spend -- this is simply a bad idea all around. … I would like to say what I really feel -- and if this happens I won't be the only one openly expressing anger. Thank you."
— Gary Higgins
“I realize in your position it's tough to take an opposing view to the ‘typical’ person in our industry. I wanted to let you know that in the retail building materials and construction business there are people with differing views. Every politician and industry has their ‘sacred cows.’ Our industry stands at the altar of the almighty mortgage interest deduction. This is the reason people buy houses. This is the reason people can afford houses. Hmmm. It seems like we just had a meltdown recently over issues like these. The reality is, people need a place to live. They will buy what they can afford (that's a novel concept). If they're not able to buy a house, they rent. (How dare I suggest that every person is not entitled to a home at every station of life?)
“The MID will more than likely be the last of these "sacred cows" to go. It will take our country to be in the shape of Ireland, Portugal and Spain to finally eliminate all our ‘sacred cows.’
“I'm only 38 years old, but some time in the last half century they took the word ‘no’ out of our vocabulary. To be a good parent we have to say ‘no’hundreds of times a day to our children. Adults have to say ‘no’ to debt and spending. Politicians have to say ‘no’ to every group that comes with their ‘hat in their hand.’
“I'm probably the .01% of people in the industry that thinks this way. However, I have a bigger view of life and the economy than flexing our muscle to politicians. I want all our boats to rise.”
— Daniel Jordan