Tax changes cut the Mortgage Interest Deduction sharply–but not for the rich The 1.2 percent of households with incomes over $500,000 get 20 times as much tax relief from the mortgage interest deduction as the half of all households with incomes under $50,000. Every year, the federal government spends about $250 billion on subsidized housing–not … Continue reading The Mortgage Interest Deduction: Smaller, but even more unfair