this post was submitted on 11 Apr 2026
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in what dimension would anyone pay a "tax" on interest for a loan? if i had to guess, she's driving for tax credits on interest for boat loans, like is currently done with mortgages. i.e. the amount of interest you pay towards your home loan in a given year is credited against your income tax obligation. it's more or less a subsidy for homeowners to pay less in taxes because they are taking it on the chin from a bank.
but i'm sure the concept of a "tax credit" is too complicated to explain to the type of yokel that buys a fucking boat (never buy, always rent. a big expensive boat is a shit asset.) so what this is is a gift to boat dealerships by letting boat buyers avoid funding things like "schools" and "roads" because they're buried in their 20 year boat loan at like 8% interest or whatever and forking over a pile every month in interest to whatever chop shop capital formation is underwriting their loan.
Other way around I bet. Banks and underwriters pay income tax on loan interest.
I’m sure it just means an itemized deduction