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1   FortWayne   2018 Jul 19, 4:14pm  

Will make housing more expensive.
2   justme   2018 Jul 19, 4:16pm  

FortWayne says
Will make housing more expensive.


Giving tax breaks to poor people makes them poorer. Giving tax breaks to rich people is the only thing that works. Everyone knows that.
3   FortWayne   2018 Jul 19, 4:21pm  

You are paying someone to be poor. Subsidizing their life by taking from others.

I’m not ok with that.

justme says
FortWayne says
Will make housing more expensive.


Giving tax breaks to poor people makes them poorer. Giving tax breaks to rich people is the only thing that works. Everyone knows that.
4   indc   2018 Jul 19, 4:24pm  

FortWayne says
You are paying someone to be poor. Subsidizing their life by taking from others.

I’m not ok with that.

justme says
FortWayne says
Will make housing more expensive.


Giving tax breaks to poor people makes them poorer. Giving tax breaks to rich people is the only thing that works. Everyone knows that.


You think mortgage deduction is not subsidizing?
5   FortWayne   2018 Jul 19, 4:31pm  

It is.
But it balances with property taxes which are not a write off.

Totally fine with removing property taxes and interest write off to offset it.

indc says
FortWayne says
You are paying someone to be poor. Subsidizing their life by taking from others.

I’m not ok with that.

justme says
FortWayne says
Will make housing more expensive.


Giving tax breaks to poor people makes them poorer. Giving tax breaks to rich people is the only thing that works. Everyone knows that.


You think mortgage deduction is not subsidizing?
6   indc   2018 Jul 19, 4:40pm  

That is a good idea. Did you hear of any booming place where property tax was abolished. I think we should talk about solutions that will work.
FortWayne says
It is.
But it balances with property taxes which are not a write off.

Totally fine with removing property taxes and interest write off to offset it.

indc says
FortWayne says
You are paying someone to be poor. Subsidizing their life by taking from others.

I’m not ok with that.

justme says
FortWayne says
Will make housing more expensive.


Giving tax breaks to poor people makes them poorer. Giving tax breaks to rich people is the only thing that works. Everyone knows that.


You think mortgage deduction is not subsidizing?
7   Patrick   2018 Jul 19, 5:28pm  

indc says
I think we should talk about solutions that will work.


The demand for rentals is the amount of money available to pay to landlords.
The supply of rentals is the number of rentals available in the area.

The fundamental problem is that tax credits are an increase in demand and not an increase in supply. That's bad for renters, like @FortWayne points out.

Landlords love love love increases in demand. That's more money for them! This tax credit will quickly result in increased rents, and so the landlords will take all of it.

To really solve the problem, the federal gov't should increase supply. They can do this in a number of ways, such as:

* overturning NIMBY zoning so that more housing can be built where localities are trying to push the problem onto their neighbors
* contracting to have more rental housing built, and then selling that housing, putting it on the market and thus driving rents down

Landlords will scream bloody murder if any of those get tried though, making them politically difficult to implement. Landlords are generally richer than average, and have a clue about politics, so they get what they want.

The basic problem is that most of the population just hears "more money to pay rent" and thinks that will help even though it won't. What is missing is clear understanding by the majority that supply is what is missing. Demand is doing just fine, no need to throw gasoline on the fire by adding more demand.

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