News for hackers. Stuff that matters.
Re:Anatomy of a credit card rewards program by gruez on Thursday April 04, 2024 @08:10AM (#39929360)
> While we're in this topic: why is unsecured credit card debt NOT tax deductible but secured debt like HELOC is?

AFAIK it's a carve out specifically for houses. Car loan interest isn't deductible despite being "secured".

Re:Anatomy of a credit card rewards program by judge2020 on Thursday April 04, 2024 @09:16AM (#39930008)
It's a bargaining chip to get votes. If one party promises a larger tax saving on homes, then homeowners are more likely to vote for them.
Re:Anatomy of a credit card rewards program by dboreham on Thursday April 04, 2024 @10:11AM (#39930645)
Besides that, there may be some societal benefits to increased home ownership.
Re:Anatomy of a credit card rewards program by ghaff on Thursday April 04, 2024 @10:36AM (#39930968)
As I understand it, mortgage interest deductibility was originally basically social policy (rightly or wrongly). And you can't take a benefit like that away--even if the government kind of did for most people by increasing the standard deduction. (Which was probably not a terrible way of doing so.)