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Originally Posted by zakthor
Raise the rent to maintain your investment or business expense.
Tax break for our rental costs means everyone pays, instead of you and the tenant. Which brings us to ‘why social benefit’ why roads, why is tax money spent on anything? It’s supposed to be to get useful common good stuff done. Giving tax breaks for rentals is forcing everyone to subsidize them, of course we should agree there’s a good reason. An alternative, instead of sweet deal for rental owners, give tax money to the renters themselves. Or don’t. I’m just saying current policy is a structural reason why homeowners don’t have a level field against the corps.
We can decide as a society that we want owner occupied houses, clearing rental owners out of market can only lower prices.
I’m skeptical any of this will get fixed though…. Way too much interest in the profits of the status quo.
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In CA, renters do get a bit of a tax break.
In case if you haven't noticed, there's section 8 housing where everyone pays into it so the poor can benefit. Ask owners how they feel about Section 8 renters? I am sure there are those who are good and true but most end up destroying the place at the owner's dime.
Raise rent? Don't make me laugh. Rent control only allow 3-4% around here. So, for a place that's been rented for the past 10 years at the original rental rate maybe around 12-1500 bucks a month. At 4 %, that is 60 bucks. While market rental rate is 3000 for the same place. Easier said then done. This is like reading one book on communist and people go out, rave about it and want to turn this place into a communist country.
Explain to me again why is tax break to subsidize renters good for everyone? (in red). Who's the everyone you are referring to? The gov. rarely and almost never cut any tax or give us any tax breaks. We have some of the highest tax in the nation what makes you think that we are getting breaks. It only goes up from there. What is this sweet deal for owners you are talking about? Where is it, I like to learn about it if it exist?