QOTD: Should Car Loans Be Tax-Deductible?

Putting aside the specific merits of this proposal *, I am curious if car loans in general should be tax deductible?

As Michael points out, only those who itemize will benefit, and that's a small amount of taxpayers. Not to mention that those who are wealthier tend to benefit more from deductions.

*As an aside, does this proposal go based on where the car is built or where the company is based? Since, you know, American automakers build cars overseas and foreign-based automakers build cars in the U.S.? It's unclear from the Reuters piece.

Yes this is a political policy question two weeks out from a huge election in a divided country. So, please, please, please, please, please play nice. The banhammer is halfway unsheathed. Stick to the question, avoid the partisan mud-slinging and insults, be adults, and try to reason your way through your answers.

With that in mind, sound off below.

[Image: PanuShot/Shutterstock.com]

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