Comments: Where's The Consumer Interest Tax Deduction?

Perhaps because the cc interest tax deduction carries an implied incentive for consumers to run-up a large balance...which is not going to fly politically in this economic climate

Posted by The Spoiler at December 24, 2008 06:41 AM

That was the reason given back in 1986 to eliminate this deduction, and yet nothing since has stopped it from happening anyway. Consumers still ran up large balances, not because they were spenders and crazies, but because wages have stagnated compared to real inflation. So the argument against bringing this back is garbage.

Posted by Steve Soto at December 24, 2008 10:36 AM

I didn't say it was a good rationale, or that I agreed with it. Remember that there is a desire (especially by the GOP) to want it both ways when it comes to policy rationales. This is yet another example...

Posted by The Spoiler at December 24, 2008 12:10 PM
Post a comment
HTML Tags:
<b>Bold</b> = Bold
<i>Italics</i> = Italics
<a href="http://www.url.com/">Linked text</a> = Linked text

Note: comments from signed in commenters will show up right away. If you are not signed in, your comment will not appear until it has been approved.




Remember me?

(You may use HTML tags for style)

In order to post a comment, you must answer the following question.