All interest, personal and business, was originally deductible when the income tax began

Evidence

Here’s how that happened: When our tax system was created, few Americans paid taxes, and all interest was deductible—meaning you could subtract it from your reported income and potentially accumulate enough deductions to reduce your income into a lower tax bracket. There was a deduction for personal interest (think credit card or car loan) as well as business interest. — Dorothy A. Brown, The Whiteness of Wealth, 180

Categorization

• XREF: connects to: The 1986 Tax Reform Act made mortgage interest the main deductible personal interest — Dorothy A. Brown, The Whiteness of Wealth: How the Tax…, 182; The 1986 tax reform singled out mortgage interest for privileged deduction — Dorothy A. Brown, Getting to Reparations: How Building a…, 1238; Universal interest deductibility in 1913 predated targeted mortgage subsidies — Dorothy A. Brown, Getting to Reparations: How Building a…, 1236
• yield-rescued: below the book’s yield-target cutoff, included anyway for connecting to: The 1986 Tax Reform Act made mortgage interest the main deductible personal interest — Dorothy A. Brown, The Whiteness of Wealth: How the Tax…, 182; The 1986 tax reform singled out mortgage interest for privileged deduction — Dorothy A. Brown, Getting to Reparations: How Building a…, 1238; Universal interest deductibility in 1913 predated targeted mortgage subsidies — Dorothy A. Brown, Getting to Reparations: How Building a…, 1236