Re:Anatomy of a credit card rewards program
by nfriedly on Thursday April 04, 2024 @08:33AM
(#39929588)
Granting a tax credit for something encourages that thing. So, from that perspective, I think it makes some sense to grant a tax credit for mortgage interest but not credit card debt.
[ Parent
| on HN ]
Tax credit for mortgage interest encourages speculative investment in the housing market. Tax credit for credit card debt encourages consumer economic activity.
Re:Anatomy of a credit card rewards program
by red-iron-pine on Thursday April 04, 2024 @09:11AM
(#39929953)
you have to live somewhere.
maybe you rent, but renters DGAF about the local community the way that homeowners do.
home (property) taxes also fund a lot local services, schools, etc. you want prices higher and stable, and not dominated too heavily by mega-corps that will weasel out of paying said taxes.
Re:Anatomy of a credit card rewards program
by i80and on Thursday April 04, 2024 @11:28AM
(#39931656)
I've rented in my town for ten years, and I care about it a lot thank you very much.
Renters absolutely care about the local community.
Re:Anatomy of a credit card rewards program
by mwexler on Thursday April 04, 2024 @08:47AM
(#39929741)
Though one can write off losses from gambling in the US.
I wish the tax code had more a more positive slant per your point, but lobbying seems to be a bigger driver.
Re:Anatomy of a credit card rewards program
by ScottEvtuch on Thursday April 04, 2024 @08:54AM
(#39929803)
Pretty sure you can only write off gambling losses to offset gambling winnings, which entirely makes sense. That way you only pay taxes on your net winnings for the year.