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Originally Posted by satz  However, given the fact that we live in a society that is structured so, should christians take advantage of these things? Do they ever provide a true advantage? |
I think it is proper to take advantage of deductions, in general. It is the system we are under. In other words, I have no problem for a businessman taking business deductions, or for people with high medical bills taking deductions, etc. It is legal and authorized, even if I think the tax system itself is fundamentally unjust.
On the other hand, entering into a money losing transaction just to claim deductions is certainly not a good idea for most people. People get into trouble especially in the area of second mortgages. They have substantial equity in their house so they borrow against it to pay for other things. It has been fueling our economy. The results of such foolishness is starting to become apparent in the mortgage crisis. The outcome will be interesting, and quite likely painful, because, among other things, many pension plans are heavily invested in these loans that are beginning to default.
So even if you want to follow the moderate view of Calvin on debt, it still should not be entered into just because of tax benefits.