Birdwatch Archive

Birdwatch Note Rating

2024-10-12 18:18:33 UTC - NOT_HELPFUL

Rated by Participant: E1CB2B905C27EB94C7AA4B80AEC71633794C922AD2404CBE2C38C01A6F61C5F9
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Original Note:

NNN - The other note overlooks the point of the article, that the deduction requires itemizing, which is mostly done by high-income earners (AGI $500k+). Thus, while low credit scores do lead to higher auto loan interest, the deduction would mainly benefit wealthier taxpayers. https://taxpolicycenter.org/briefing-book/what-are-itemized-deductions-and-who-claims-them

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Original Tweet

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