If we believe, at a philosophical level, that interest payments should be tax deductible, ok, then make ALL interest paid tax deductible - credit card, personal

If we believe, at a philosophical level, that interest payments should be tax deductible, ok, then make ALL interest paid tax deductible - credit card, personal loans, auto loans, etc. Exactly. In fact all interest was deductible until the 1986 tax reform. Unfortunately the mortgage interest deduction survived due to lobbying from the real estate industry. with the new tax bill, 90+% of both owners and renters will be taking the standard deduction this year. It is my opinion that's a good thing. It's a very good thing for fairness, economic efficiency, and saving taxpayer time.