[kcbigring]

read the propublica article - it explains. or be lazy. loans ;) in particular low interest loans. as high interest loans would sort of ruin the plot and those are reserved for the working class.

[wmf]

Interest rates aren't magic; secured loans have lower rates than unsecured.

[cycrutchfield]

Your mortgage is a low interest loan. Should we tax your mortgage as income?

[lupire]

Yes, but deduct the house that the loan buys as an expense.

[imgabe]

Then if you take a $500 million loan backed by your stock holdings to build a yacht, why not deduct the yacht as an expense?

[triceratops]

The house the mortgage paid for is taxed.

[cycrutchfield]

I assume you're talking about property taxes, which is not really what we're talking about here.