I kind of giggle when I hear people talk about the mortgage deduction. At 4% interest- the standard deduction provides more tax relief than itemizing. For me, the mortgage interest deduction is a waste of time.
It has been that way for years. It doesn't change because Congress and their cronies- like it just the way it is. Check out this list of government assisted tax dodgers. Don't expect it to change with Obama or Romney in. It won't.
I don't call these folks tax dodgers- tax cheats per se- because Congress created these loopholes for their corporate benefit. I am trying to fact check this list. Please don't be confused by the inclusion of CEO names...these are not individual returns, they are corporate.