- cross-posted to:
- housing_bubble_2@lemmy.world
- cross-posted to:
- housing_bubble_2@lemmy.world
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Mao was right about many things. But he was most right about Landlords.
Rental income is considered income, and taxed assuming reasonable tax brackets much higher than investment income (That is to say, caiptal-gains. Interest/Dividends are also taxed at the higher income rate)
The cost of maintaining a livable home, property taxes, insurance, property depreciation, and renter interactions eat into the supposed windfall that landlords make.
I’m not saying it doesn’t suck sometimes and that certainly these formulas are out of whack in some situations, but there are no easy answers.
How has no comment in this thread yet mentioned Georgism or Land Value Tax? That is the solution to Landlordism
A land value tax is a good tool to help ease the transition away from landlords, but it alone is not enough.
Regardless, we definitely should be primarily relying on LVT for government income.
I would argue that a live-in landlord that does maintenance work or acts as a building super is in fact doing a job.
Otherwise, agreed.
