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You wrote:
someone making less than, what, $40k-50k/yr and with a family pretty much won't pay anything in Federal taxes after standard deductions, child tax credit, exemptions, etc.
And that person would therefore not benefit from any mortage interest deductibility, right?
And you then wrote:
A family making about double that would pay Federal taxes, though, but the mortgage interest deduction can lower that significantly (at least in the earlier years of the loan)
Right, so the family making twice as much benefits, and the family that makes half that amount doesn't.
That's exactly how a regressive tax works.
(Or do I misunderstand something here?)
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