Printer Friendly PDF
Ending the IRS has been a dream of the People since the department's creation. A wall of tax write-offs is erected around the IRS to ensure its survival. One of the foundation stones is the Mortgage Interest Tax Deduction. It is a form of laundering candy that prevents the victims from storming the castle.
Congress cannot just hand your money to the Banks. They launder the handout through you. The Banks simply raise their rates to absorb your benefit, and market it back to you to show their rates are competitive. The Politician accomplished the task, and also bought your vote because you believe they helped. The Bail-Outs are just Congressmen and Administrations getting lazy and harvesting larger quantities.
The banks and politicians cash-in and share a good laugh at the people's expense who viciously defend the program, which is the laundering conduit. Eventually, a laundering villain is offered, a disgraced banking executive. They are forced to retire early with full benefits and bonuses, and are allowed to consult for the bank, join the lecture circuit, or become a media pundit.
Laundering Mortgage Deduction — Video Map
Copyright © 2013 by John Gregorek