Cancel Rents and Mortgages[W:280]

[Bullseye]

Re: Cancel Rents and Mortgages

Supply and demand can easily be shifted by taxing rents like ordinary income and gutting landlord tax deductions.

Yeah, that'll definitely improve the rental market. :roll:

 

[phattonez]

Re: Cancel Rents and Mortgages

LOL, You do know those millionaires and billionaires provide jobs for millions of people and pay millions in taxes to help take care of your poor, slow, busboys. right?

Because there wouldn't possibly be jobs if we didn't let people have tens of millions of dollars? Do you really think I'm that stupid?

 

[Bullseye]

Re: Cancel Rents and Mortgages

I guess he's ****ed, then. Your view is disgusting.

Well, then, YOU save up the money to buy several homes and rent then to handicapped bus boys for less than your mortgage payments and have a ball.

 

[Bullseye]

Re: Cancel Rents and Mortgages

Because there wouldn't possibly be jobs if we didn't let people have tens of millions of dollars? Do you really think I'm that stupid?

I'm beginning to wonder. :lamo

And by the way, it's not "letting" anyone have any amount of money. It's letting people rise to whatever level they can attain. And to do that they have to employ people and but materials and services that employ others. We have no right to arbitrarily take money from them because we think they have too much.

 

[Jredbaron96]

Re: Cancel Rents and Mortgages

Moderator's Warning:

The subject of this thread is not each other's personal lives and families. Cease the personal attacks and return to the subject of the thread.

 

[Lursa]

Re: Cancel Rents and Mortgages

****ing hell, man.

I'm not a man and dont ask questions if you dont want the answers. My responses are based on how you have framed your life.

All adults that are not intellectually-challenged are capable of making a living. If people choose to...or accidentally...increase their dependents before they can afford to support them...that is a consequence of their actions and no one else should have to make sacrifices for them. That just enables poor decision-making and irresponsibility.

 

[Lursa]

Re: Cancel Rents and Mortgages

Supply and demand can easily be shifted by taxing rents like ordinary income and gutting landlord tax deductions.

?? Rent is taxable income. What is 'ordinary' income?

 

[Lursa]

Re: Cancel Rents and Mortgages

I guess he's ****ed, then. Your view is disgusting.

Ever hear of having roommates? Sharing a house or apt? Living with family? If he's intellectually-challenged like you described, there are group homes.

 

[VanceMack]

Re: Cancel Rents and Mortgages

I like the option of voting for politicians and policies that will make people like you live in a ditch.

:lamo

Been there. Turned that ditch into a nice 2 bedroom 1.5 bath. Its now renting for 850 a month plus utilities and yard upkeep.

 

[bave]

Re: Cancel Rents and Mortgages

Supply and demand can easily be shifted by taxing rents like ordinary income and gutting landlord tax deductions.

You don't seem to understand the way the world works. I suggest you actually talk to people in businesses and leasing properties before you open your mouth and vomit stupidity.

Rental income is taxed as ordinary, unearned income. It isn't taxed as a dividend or capital gain if that is what you are suggesting. What mysterious landlord deductions are you referring to? Deducting interest on an investment loan? Deductible maintenance and property taxes? Depreciation? These are all rather standard and universal deductions yet somehow you think there is some nefarious plot to undermine the little guy.

More to the point and the recurring theme you keep missing. When someone looks at investing their money into anything, stocks, bonds, real estate, a business etc the first calculation they do is a risk vs reward combined with an associated minimum expected net investment return. So if you remove deductions, reduce revenue, and in any way reduce the overall net return then people will walk away from renting property in your jurisdiction. This is, precisely, what has driven up rents in places like NYC and SF. All these regulations and rules are what cause low income housing to get torn down and rebuilt into luxury condos. Why? Investors can't make money when the state dumps rules and regulations on them in the form of unfunded mandates, so the reasonable and *repeatable* response has been that investors shift their capital and land use to something else that does meet their minimum investment return.

 

[phattonez]

Re: Cancel Rents and Mortgages

You don't seem to understand the way the world works. I suggest you actually talk to people in businesses and leasing properties before you open your mouth and vomit stupidity.

Rental income is taxed as ordinary, unearned income. It isn't taxed as a dividend or capital gain if that is what you are suggesting. What mysterious landlord deductions are you referring to? Deducting interest on an investment loan? Deductible maintenance and property taxes? Depreciation? These are all rather standard and universal deductions yet somehow you think there is some nefarious plot to undermine the little guy.

More to the point and the recurring theme you keep missing. When someone looks at investing their money into anything, stocks, bonds, real estate, a business etc the first calculation they do is a risk vs reward combined with an associated minimum expected net investment return. So if you remove deductions, reduce revenue, and in any way reduce the overall net return then people will walk away from renting property in your jurisdiction. This is, precisely, what has driven up rents in places like NYC and SF. All these regulations and rules are what cause low income housing to get torn down and rebuilt into luxury condos. Why? Investors can't make money when the state dumps rules and regulations on them in the form of unfunded mandates, so the reasonable and *repeatable* response has been that investors shift their capital and land use to something else that does meet their minimum investment return.

Are owner occupiers able to deduct depreciation and maintenance? No.

 

[phattonez]

Re: Cancel Rents and Mortgages

Ever hear of having roommates? Sharing a house or apt? Living with family? If he's intellectually-challenged like you described, there are group homes.

Can't let anything get in the way of your precious profits, right? Profits over people, right?

 

[phattonez]

Re: Cancel Rents and Mortgages

?? Rent is taxable income. What is 'ordinary' income?

It's taxed differently than wages. You get to deduct interest, maintenance, and depreciation. Owner occupiers don't.

 

[bave]

Re: Cancel Rents and Mortgages

Are owner occupiers able to deduct depreciation and maintenance? No.

No, but are owner occupiers involved in a business? A business, any business, has operating expenses which they deduct against revenues.

It's taxed differently than wages. You get to deduct interest, maintenance, and depreciation. Owner occupiers don't.

You also fail to understand the IRC. Rental income is taxed as ordinary unearned income. Full stop.

 

[Lursa]

Re: Cancel Rents and Mortgages

Ever hear of having roommates? Sharing a house or apt? Living with family? If he's intellectually-challenged like you described, there are group homes.

Can't let anything get in the way of your precious profits, right? Profits over people, right?

That does not address my post...you are making up lies to suit your projections. I dont prioritize house ownership over children.

If you cant carry on a discussion, you are just here flailing in failure.

Can any working person, intellectually-challenged or not, find those methods of housing instead of ending up homeless?

 

[Lursa]

Re: Cancel Rents and Mortgages

It's taxed differently than wages. You get to deduct interest, maintenance, and depreciation. Owner occupiers don't.

Those are deductions you write off. Please tell me how rent is taxed differently from other income? It's added right there on the tax form, with other income. Or admit you have no idea what you're talking about.

 

[bave]

Re: Cancel Rents and Mortgages

Those are things you write off. Please tell me how rent is taxed differently from other income? It's added right there on the tax form, with other income. Or admit you have no idea what you're talking about.

How would he know anything about paying taxes? lol.

 

[Lursa]

Re: Cancel Rents and Mortgages

All that's happening is a temporary moratorium on evictions in some places. Once the emergency passes these people will be kicked to the curb while we continue to sell our land to Chinese oligarchs.

So...things have changed quite a bit. In many states, maybe all, it's illegal right now to evict people.

Are you paying your rent?