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the interest tax deduction costs exactly ZERO. in what bizarro world does NOT taxing the citizens equate to a "cost"?
by underdown 15y ago
the interest tax deduction costs exactly ZERO. in what bizarro world does NOT taxing the citizens equate to a "cost"?
- derobert 15y agoWell, it doesn't cost exactly zero, as there are costs to handling the paperwork, etc. And if you look at economy-wide costs, it distorts economic decision-making, which definitely has costs. But what the OP is referring to as "cost" would be better said as repealing it would bring the budget $130 billion closer to balance (through increased revenue). But if you insist on that distinction, make sure not to call (for example) tax credits offered for renewable energy a cost, either.
- bane 15y agowhat is it deducting from?
- guelo 15y agoWhat is the difference between the government mailing out a check vs having people deduct it from their taxes? It's just a hidden expenditure. As a renter I don't get that subsidy, if we both earn the same income but you pay less taxes it's a subsidy, you're on welfare.