Professor Shares Insight Regarding Mortgage Interest Tax Deduction
Recognized as a valuable community resource, Northwood University faculty and staff regularly share expertise relating to a wide variety of political, economic, and environmental topics.
September 12, 2012
As WPTV, South Florida's NBC affiliate investigated possible elimination of the popular mortgage interest deduction, Project Economy Producer Matthew Harris turned to Northwood University Florida's Dr. Ed Moore to learn more.
Moore shared that elimination of the tax would save the country $100 billion in lost revenue each year, but added that it would be a temporary fix, as it targets just one group of tax payers, and could have a long a term impact on home sales and spur additional foreclosures.
One of the most popular benefits to homeowners, the benefit permits elimination of mortgage interest as taxable income.
With its preservation lobbied by the National Association of Realtors and other local associations which promote homeownership, neither presidential candidate has completely rejected the possibility of either eliminating or reducing the deduction. There are also proposals to phase it out which include limiting the deduction to first homes, and mortgages up to $500,000, instead of the current $1 million.
Recognized as a valuable community resource, Northwood University faculty and staff regularly lend insight relating to a wide variety political, economic, and environmental topics.
Moore has over 20 years teaching experience at both the under graduate and graduate levels. He holds a Masters of Business Administration Specializing in Management degree, and a Doctorate In Business Administration in International Business with special emphasis on International Economics and Finance. He has completed many additional Doctorial courses in Management, Research, and Marketing. Dr Moore has presented a number of papers at international conferences and has been published internationally. Dr. Moore's primary research interests include culture and economic development in developing and transitional economies, political corruption, and he has developed an International MBA with an emphasis in Cross Cultural Awareness.