Petition to Make Debt Payments for Mortgages and Student Loans Qualify as Tax Deductible Contributions to IRA and 401k Retirement Plans.
1. This will help improve Americans' personal finances.
2. It will allow Americans to invest in a RISK FREE investment as paying off your own debts has 0 risk.
3. It will provide a higher rate of return than current investments (be it bonds, savings accounts, etc.)
4. Businesses get to deduct similar expenses when building factories or a product. People should also be able to deduct expenses incurred purchasing a home or developing skills to sell to employers later in life.
5. It provides a bipartisan solution to the student loan problem that most politicians would agree on.