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A comment on Being Poor (2005). Parent comment

Re:Being Poor (2005) by dragonwriter on Saturday May 22, 2021 @03:26PM (#27249554)
> This does not affect 80%+ people, who are better off with standard deductions

This ignores the indisputable fact that if personal loan interest were deductible, fewer would be better off with the standard deduction.

I mean, if you eliminate all specific deductions, everyone will be better off with the standard deduction no matter how small it is. That doesn’t mean no one is impacted by the elimination of specific deductions, in fact, it means the opposite.

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Re:Being Poor (2005) by lotsofpulp on Saturday May 22, 2021 @05:58PM (#27250635)
I erroneously included the part about personal loans in what I quoted from WalterBright. I just intended to point out very few people benefit from mortgage interest tax deductions nowadays.
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