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Posted AT 6:00 AM EST on 25/03/08

U.S. mortgage tax break has got to go

BARRIE MCKENNA

Globe and Mail Update

It's the topic no one dares speak of amid all the hand-wringing about the great credit collapse of 2008. Mortgage deductibility. For many Americans, particularly the wealthy, it's the single largest tax break they get, saving them thousands of dollars and depleting the U.S. Treasury by as much as $100-billion (U.S.) a year. It also may be a key reason we're in this mess.

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