Which of the following is NOT a tax policy reason for excluding gains on the sale of residences and allowing itemized deductions for real estate taxes and home mortgage interest.
A. Home ownership is part of "the American Dream" and is considered worth encouraging and sacred.
B. Owning a home is the only "tax-shelter" the average wage-earner has under the current tax law.
C. Home ownership promotes simplicity in the tax code.
D. Promoting home ownership in the tax code supports real estate values & the real estate industry which is a huge and vital part of the American economy.
E. All of the above are sound policy reasons for giving tax breaks to homeowners.