Once this mortgage loan tax deduction calculator calculates your annual interest costs, you will know how much of a deduction you can apply against your income taxes.

The Internal Revenue Service allows most homeowners to claim the interest paid on their mortgage loan as a deduction.

I think it will be very helpful

I've heard conservative pundits and the rank-and-file talk about getting rid of the deduction, but I have never heard any sort of liberal say that. I'm sure one or two are out there, but they are a very, very small number.

People on welfare didn't earn the money they receive. It's taken from others and given to them. A deduction lets me keep more of my personal property. My money is not presumptively government property, on which I bear the burden to prove entitlement to retain it. The expectation value of my property is among the property interests that I own. I wouldn't feel happy to have that blithely taken away.

You seem to be operating under the presumption that Uncle Sam is entitled to take more of my money, and it's just not fair that the law should favor ownership of private property. That's a funny assumption coming from a guy who works at Cato. There is a word describing people who favor diminished property rights, higher taxation and social liberalism. The word is “liberal.” You should stick to that and drop the 'tarian' portion of your fusion project's name; it would save some typing time.

As I said, my mortgage deduction is virtually zero these days, but it sure was a lifesaver back when I was starting my family 20-25 years ago.

Houses are expensive things to keep up.

I vote we keep the deduction.