Posted on 05/14/2010 7:29:11 AM PDT by Slyscribe
Dean Baker, co-director of the left-leaning Center for Economic and Policy Research, argues persuasively that the U.S. is not in the middle of a housing recovery. He contends the government has artificially pushed up prices by offering first-time homebuyers a hefty tax credit. Also, the Federal Reserve’s purchase of mortgage-backed securities has helped keep mortgage rates low, enabling homebuyers to finance bigger loans. “I don’t think the government has an interest in artificially propping up house prices,” he said. Yet Baker’s preferred policy, called “Right to Rent,” would do exactly that.
(Excerpt) Read more at blogs.investors.com ...
There is no such thing as a Right to Rent.
So who pays property taxes while the former owner is renting from the bank?
My rights are inalienable, meaning they come from God, not the government.
Watch this be tied to taxing “imputed income”. The Libs have been trying to get an “imputed income tax” since at least ‘94.....
More info please... what is an imputed income tax??
Not that I agree with anything about this ... but renters pay property taxes. They’re figured into the rent.
SnakeDoc
"Imputed income" is an idea that was floated back in the early days of the Clintoon administration as a method for paying for Hillarycare. Here's how it would work. Let's say you own a house and that house could be rented for $2000/month. The IRS would charge you income tax on the amount of money they think your house could rent for, IOW, "imputed income". If your house would rent for $2000/month the IRS would add $24,000 to your taxable income. Doesn't matter if your house it paid for and never mind that you'd have to find somewhere else to live if you rented your home and actually realized the income. It's another one of those nonsensical Liberal moonbat ideas that almost got traction back in '93. A bill was actually introduced into Congress that would have enacted an imputed income tax, but it died when Hillarycare died. I recall reading a few months ago that the idea is being floated again to pay for Obamalamadingdongcare.......
What a nightmare! They really do want to put an end to private property, don’t they? Thanks for the explanation.
All taxes are ultimately paid by the end consumer......
They already have. Stop paying your property taxes and you'll find out who really owns your property. Kelo was really the final straw. We have no private property rights anymore......
Let me add that those of us who still owe on our houses are not safe from this “turd in the punchbowl” either! I’ve read there is a revised version of this!
I don’t know the particulars, but if you were “lucky enough” (in their eyes) to have been able to actually PAY YOUR mortgage and have a job and have some equity in your house, you would also be taxed a percentage of that perceived rent!
I have a fairly large home and it would probably “rent” for around $3500 per month (maybe more). We owe about 1/3 of its value, so I THINK we’d be taxed 2/3 of $42,000 (or something “BLEEPING RIDICULOUS” like that).
It certainly removes all incentive to ever pay off your mortgage!
“What a nightmare! They really do want to put an end to private property, don’t they? “
Go to any smoking ban thread on FR and you will see the trampling of private property rights CELEBRATED by supposed conservatives. Between the WOsD, the war on tobacco, kelo and property tax policies, we have lost any semblance of private property rights. This is just the next logical step.
What it really is, plain and simple, is unadulterated Marxism designed to discourage private property ownership. How much more of this stuff before America really wakes up?
I thought “Risky Schemes” only came out of Republican administrations?
Let’s call this by it’s proper name...Neo-Feudalism.
Can I rent for just long enough to make the landlord repair , replace and upgrade all the major systems and then repurchase at a big discount?
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