Just from my small brain viewpoint, the owner hasn’t sold the house or anything, so they shouldn’t be taxed, and rent income is already taxed, so if they’re using it to rent, this might trickle down to increase rent costs. Although, on the other hand. This only affects the ultra rich, so maybe they have it coming to them.
To expand your analogy to the house on how the rich used their unrealised gains.
You buy a house and it appreciates in value. You bowwow money against the capital gains and use that to live on. Your house price goes up further, generating more capital gains that you can now bowwow against to pay back your previous loan.
edit: also since you’re so filthy rich the banks give you really low interest rates, way less than tax would have been.
This only affects the ultra rich, so maybe they have it coming to them.
Don’t be reductive. Anyone who owns $100M worth of investments, be they stocks, bonds, or real estate holdings, needs to pay more in taxes.
This is targeting 1%ers hoarding capital, not your rental properties. We’ll come after landlords’ underserved income later as we further tackle the housing affordability crisis.
The Unrealized Tax is a bit iffy though. Not sure I entirely agree with it.
What do you disagree with specifically? It only affects people with over $100M in wealth.
Do you think the tax goes too far, and if so, why are you protecting the wealth of the 1%?
Or do you think the tax doesn’t go far enough, and if so, wouldn’t opposition it just mean not passing a tax at all, which would be worse?
Or do you know nothing about her proposal and thought it was going to affect your paltry investment income?
Just from my small brain viewpoint, the owner hasn’t sold the house or anything, so they shouldn’t be taxed, and rent income is already taxed, so if they’re using it to rent, this might trickle down to increase rent costs. Although, on the other hand. This only affects the ultra rich, so maybe they have it coming to them.
To expand your analogy to the house on how the rich used their unrealised gains.
You buy a house and it appreciates in value. You bowwow money against the capital gains and use that to live on. Your house price goes up further, generating more capital gains that you can now bowwow against to pay back your previous loan.
edit: also since you’re so filthy rich the banks give you really low interest rates, way less than tax would have been.
Don’t be reductive. Anyone who owns $100M worth of investments, be they stocks, bonds, or real estate holdings, needs to pay more in taxes.
This is targeting 1%ers hoarding capital, not your rental properties. We’ll come after landlords’ underserved income later as we further tackle the housing affordability crisis.