While we recognize that home ownership is part of the American dream, by allowing mortgage interest deduction on a second home up to a mortgage value of $1 million is an entitlement for the wealthy that is subsidized by the rest of the tax payers. Allowing a mortgage interest deduction on a single home, perhaps of a value in line with the mean or median home cost for a area, fulfills the need to assist with home ownership. Those who desire and can afford second homes, particularly high-priced homes, should not be subsidized by the rest.
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