Unjust Fairness

Johnathan Pearce:

For many years I chose to rent and stash up enough money to put down a good deposit, as did my wife. That, by the way, is one reason why there is a basic injustice when relatively prudent folk get taxed to bail out the imprudent, such as a person on a 100 per cent mortgage.

Precisely.

Comments

[Classical Liberal]

I agree. Here's a question about a similar subject. In the U.S. interest on mortgages is tax deductible, in order to "help people become homeowners". My question is: does that not put, proportionally, a higher tax burden on people who do not have a mortgage? I think so. What sort of people don't have mortgages? Renters (most probably lower income), and people who have had a mortgage in the past but paid it off (mostly elderly, I would guess). So in order to help some people afford a mortgage, others are hurt. Isn't this the law of unintended consequences whenever our governments try to "help" some favored group?