Even Fewer People Are Affected by the Plan to Limit Mortgage Interest Deduction Than the Post Reports

The Washington Post had a good piece pointing out the relatively small share of the population that would be hit by the cap of $500,000 on the amount of the principal for which interest is tax deductible, While it pointed out that a relatively small share of homes sell for a large enough amount to require a $500,000 mortgage and that the interest up to $500,000 will still be deductible, it neglected to point out that the principle dwindles over time so that even people who took out a mortgage...