discusses some alternatives to the fixed rate, amortizing first mortgage whose amount is insufficient to provide the funds necessary to buy or refinance a building. The textbook also points out that the deductibility of interest payments enhances the attractiveness of financing with debt. Yet as a society we must ask whether it is equitable to allow the new owners of a building which was purchased at a substantial profit over its original cost and improvements to be able to deduct the interest payments on that portion of the price which represents the seller's profit... for no economic activity took place to benefit the country on that portion of the purchase price.

Do you think that the Biden Administration should give serious consideration to this idea?