quote:
Not even close to the same thing. If There was a law that let certain people, mainly high earners have their mortgage paid off by Government, you would have a point.

Wrong. Both knock something off the federal government’s balance sheet. What people seem to be ignorant of, willfully or otherwise, is that PSFL does not forgive private loans. It only applies to loans issued and held by the federal government.

With the mortgage interest deduction, the federal government forgives money you owe to it because you paid money to a private entity for loaning you money for a mortgage. With PSFL, the federal government forgives money you owe to it because you made 120 on time payments while working in specific fields.

It’s the exact same thing. Both involve the federal government forgiving a debt to incentivize certain behaviors.

2 Jump to Post ...

Report Post Jump to Post

Posted by stout

Porte du Lafitte

Member since Sep 2006

170321 posts

Posted on 4/14/24 at 10:19 am to Joshjrn

quote:
With the mortgage interest deduction, the federal government forgives money you owe to it because you paid money to a private entity for loaning you money for a mortgage. With PSFL, the federal government forgives money you owe to it because you made 120 on time payments while working in specific fields.

Which do you think is more beneficial as a whole to society? Having a middle class of homeowners or encouraging more Government employees and giving them a $100K education to do so only to see them leave and jump to the private sector after 10 years?

This post was edited on 4/14/24 at 10:20 am

1 Jump to Post ...

Report Post Jump to Post

Posted by Jcorye1

Tom Brady = GoAT

Member since Dec 2007

72616 posts

Posted on 4/14/24 at 10:38 am to Joshjrn

quote:
With the mortgage interest deduction, the federal government forgives money you owe to it because you paid money to a private entity for loaning you money for a mortgage. With PSFL, the federal government forgives money you owe to it because you made 120 on time payments while working in specific fields.

It's been explained multiple times it's not the same thing. Hell, you can deduct student loan interest payments too

, it's double taxation issues more than anything else.