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Landlords should have to pay income tax on their rental properties regardless of whether they're rented out or not. (gothamist.com)

submitted 2 years ago by Blaze@discuss.tchncs.de to c/personalfinance@lemmy.ml

335 comments fedilink hide all child comments

cross-posted from: https://lemmy.crimedad.work/post/12162

Why? Because apparently they need some more incentive to keep units occupied. Also, even though a property might be vacant, there's still imputed rental income there. Its owner is just receiving it in the form of enjoying the unit for himself instead of receiving an actual rent check from a tenant. That imputed rent ought to be taxed like any other income.

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[–] BraveSirZaphod@kbin.social 0 points 2 years ago (2 children)

And who's paying the construction company or contractor?

Like, if you want to advocate for the abolition of private property ownership, that's fine, and it's a model that has actually worked halfway decently in some countries (though the lifetime leases aren't necessarily that functionally different than ownership). But just own up to what you're actually proposing and state that you think the government should own all property.

[–] ghost_of_faso2@lemmygrad.ml 2 points 2 years ago

state that you think the government should own all property.

and who do you think composes the government?

elected represenatives.

[–] flipht@kbin.social 1 points 2 years ago

https://eyeonhousing.org/2023/02/age-of-housing-stock-by-state-4/#:~:text=According%20to%20the%20latest%20data,an%20important%20remodeling%20market%20indicator.

The vast majority of the US's housing stock has been paid off. Every time a residential property changes hands, the bank gets to re-collect all of their fees for...what, exactly? Making money available? They only do that because they're underwritten by the federal government, subsidized by taxes.

So why don't we just give direct loans to people, and subsidize those who need it directly instead of funneling the money through dozens of greedy hands taking percentages off the top?