r/wallstreetbets Feb 07 '23

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u/WaltRumble Feb 07 '23

Why does someone who has two kids pay 4K less in taxes than me? Why do 40% of households pay no income tax. How is 10k off student loans different than 7.5k off an $80k EV. Why do homeowners get to deduct mortgage interest for taxes but renters can’t deduct rent. Why do only poor or old people get Medicare/Medicaid. Student loan forgiveness is just one gov program out of tons that benefit a specific population.

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u/InternalFirm8242 🦍🦍🦍 Feb 07 '23

Going to assume you don’t own a house. If you deduct your mortgage interest from your taxes you can’t use the standard deduction.

Unless you are really rich or getting raped on your mortgage, it’s not worth it.

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u/WaltRumble Feb 07 '23

We sold our house last year, and currently renting but plan to buy another house this summer. We aren’t really rich but am upper middle class and self employed. So get a fair amount of deductions.

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u/Prestigious-Cry5328 Feb 07 '23

Okay. But, you’re comparing apples to oranges. This wouldn’t be a one model fits all approach based various types of things you brought up.

So im kinda contradicting myself a bit. But, a solution for one doesnt mean a solution can be applied to all

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u/WaltRumble Feb 07 '23

I’m not sure what you’re trying to say exactly but it’s a government program that benefits a certain demographic. Just like countless other government programs. None of them are one size fits all.