In 2007, 36 million taxpayers claimed the mortgage interest tax deduction. This is one of the biggest – if not THE biggest – deductions the average American can claim. The thought of losing this option is unthinkable to many of us, but Steve Kerch made provided some interesting information on MarketWatch that might just support such a move.

He states that there is little evidence that the deduction encourages homeownership, which has been a goal since the end of World War II. Statistics show that 36 million people use the deduction, and that equates to just 23% of all taxpayers (a huge minority).

So, will we see this change in our taxes soon? Kerch doesn’t think so. He said, that “the only way the mortgage-interest deduction will ever seriously be in play would be as a part of a complete overhaul of the U.S. tax code.

I’m guessing that will be a long way off, if ever.