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A comment on In Urban China, Cash Is Rapidly Becoming Obsolete. Parent comment

Re:In Urban China, Cash Is Rapidly Becoming Obsolete by jazzyk on Monday July 17, 2017 @10:08AM (#14788598)
Debt has never been seen favorably in almost any culture - even in the US, before the 80s.

I think it was the Reagan administration made credit card debt interest tax-deductible and the cat was out of the bag.

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Re:In Urban China, Cash Is Rapidly Becoming Obsolete by nopzor on Monday July 17, 2017 @01:53PM (#14790819)
interesting! i had no idea that it used to be deductible (until 1986 apparently). i never really agreed with mortgage interest being deductible, but i at least understand the purported reasoning (eg. home ownership, american dream etc). but credit card interest? wow! that seems like a terrible idea all around.
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