Why isn't virtually everything financed by home equity loans? The tax
advantage seems so large, and the loophole looks big enough to drive a
truck through. What am I missing?
Prof. Bryan Caplan [EMAIL PROTECTED]
"Is there anything more distinctly understood by all men, than
what it is to see, to hear, to remember, to judge? Yet it is
the most difficult thing in the world to define these
operations according to the rules of logical definition. But
it is not more difficult than it is useless. Sometimes
philosophers attempt to define them; but, if we examine their
definitions, we shall find that they amount to no more than
giving one synonymous word for another, and commonly a worse
for a better."
--Thomas Reid, *Essays on the Active Powers of Man*