Donald Trump has just announced that interest on car loans will be fully deductible
So even if the car is not used for business purposes. Does that change tax law principles that a deductible expense would need to be something related to the generation of income. A private car does not meet that definition.
If we could turn the definition of deductible expense, we could well incentivise anything really.
So we could provide tax deduction if we buy/consume certain promoted items produced locally provided local producers sell them at a certain agreed price (commensurate or lower than what it prices for overseas market).
Would that be a good deal for both our consumers and producers?
