This node is part of the 13 challenges for the 13th generation.
There are 7 million homeless in America
Aggressively fund homeless programs to help children and the next generation of workers
In a 1994 report released by President Clinton’s secretary of housing and urban development, the secretary endorsed an outstanding proposal for funding such programs, which could bring in billions. His idea: scale back the tax deduction for mortgage interest available to wealthy home-owners and devote some of this money to support more subsidized housing, mental health facilities, and other effective programs.
Currently, every home owner is allowed to deduct from his taxes the amount of interest he pays on his home loan – a subsidy that was designed years ago to encourage home ownership. If that subsidy were withheld from people with homes worth more than $250,000, only 5 percent of America’s 27 million home owners would be affeceted – and billions of dollars would be freed up to provide badly needed assistance to low-income facilities and homeless children. It’s a fair and economically sound trade-off for all Americans.