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Thank you for your answer. On one hand, corporations get tax breaks on debt interest, even in Canada, so why should not people? On the other hand I believe that

Thank you for your answer. On one hand, corporations get tax breaks on debt interest, even in Canada, so why should not people? On the other hand I believe that corporations are way more rational than people in taking on debt. For most people buying a house is not an investment, but very emotional decision, and I see how tax incentive may put more steam into bubbles.

gaadd33 13y ago
But personal bankruptcy still carries somewhat of a social stigma whereas corporate bankruptcy is part of a good business plan.
drpgq 13y ago
In Canada you get an exemption for capital gains on your principal residence, which is a pretty big tax break already.