Posted on 07/20/2018 6:03:13 AM PDT by artichokegrower
California Sen. Kamala Harris on Thursday unveiled a proposal to give federal tax credits to millions of low and moderate-income households nationwide who pay more than 30 percent of their incomes on rent and utilities.
(Excerpt) Read more at mercurynews.com ...
So when is it allowing an individual to keep his or her earned income and not taking it away through taxes considered a subsidy?
A tax deduction is different than a tax credit. I wouldn’t expect Sen. Harris to know the difference. Who do you think will be paying for those “tax credits”, Kamala? You dope...
If we were talking about folks who make $40k a year and they spend near $1,500 a month on rent...maybe it makes sense.
But if we are talking about folks making $100k a year, living in San Francisco, and having to pay $6,000 a month to rent ‘something decent’....there’s something wrong here. I saw some interview of a guy in the Silicon Valley area and he was quoting near $5,500 for a fairly old and marginal 2-bedroom apartment.
Job #1 needs to be to get rid of this mentality of looking to the Federal leviathan for answers to our problems.
As the great Ronald Reagan often said: “Government is not a solution to our problems, government is the problem. ... Government does not solve problems; it subsidizes them.”
MAFA! (Make America Free Again)
Wonder if the renters will be liable for a portion of the property tax bill?
Oh, so people can go get a better more expensive rental dwelling that’s now 60% of their income and subsidized. I think not Kam.
Here’s an idea, live within your means. If you’re of modest means, live in a modest dwelling.
Or even smarter, live below your means. I make a decent income and could afford a far better house. But to us, it’s four walls and a roof. ie; shelter. It’s not our image.
One thing I don’t understand about renting though. When we moved, we considered renting instead of buying but the cost to rent was far more than the monthly mortgage. We had just lost all of our equity plus $30 or 40,000 on our last house. We moved out of state during the recession (depression in Michigan) so our downpayment was only 10%.
It’s an amount that if we had to move, and our new house had no significant equity, we could walk away and not be devastated, so we bought a house.
They can call it the “landlord subsidy” act.
Look What making student loans for everyone did to the cost of college?!
Kamala Harris: "Since you are a fascist and a racist, that's when!"
Just another govt give away program to be scammed and cheated on by the usual parties.
You’re thinking too much.
I think of it as a subsidy to landlords. It will only serve to raise rents. It’s how capitalism teamed with free money from the government works.
i.e. if the average rent is $800 a month, and the government decides to give all renters $200 a month, you can expect the average rent to fairly quickly migrate to $1,000 a month.
i.e. it is as stupid as increasing the minimum wage.
The constitution says “promote the general welfare”. There is a gulf between the meanings of “promote” and provide. The former involves “providing” an environment that “promotes” the general welfare. The latter involves giving stuff to individuals. The latter is a very, VERY bad idea, as we’ve learned from the implementation of LBJ’s Great Society, not to mention all that FDR nonsense that extended and worsened the great depression.
The government needs to butt out and let markets do what they do.
She has to have some questionably left of center talking points (even if they appear to be a boondoggle to taxpayers) to cover for her EXTREME LEFT views of open borders and de-funding ICE.
This is the woman who hates all working white people in flyover country but is looking for their votes in 2020. It is a difficult job when you are so alt-left but she is trying/lying her way into the news at every opportunity. We can expect a lot more of this fog from her and her ilk.
And of course she fails to grasp that such a subsidy will lead to higher rents, they will not remain the same.
Subsidize something, get more of it. Penalize it, get less.
The left will never understand this basic truism, they bang their heads on it over and over and over again.
“$6,000 a month to rent ‘something decent’”...…….
Are those same people living beyond their means? Perhaps they need to downsize to something they can actually afford or move out of SF.
Did anybody bother to explain to her that if her state didn’t tax the hell out of property owners the renters wouldn’t be paying such high rents in the first place?..............
For many low income people who rent, their income is actually a taxpayer-provided payment formerly known as welfare. Some people who get multiple government (taxpayer) funds call it their “paycheck.” It appears by magic every month in their account, work free.
Sounds like a great deal for landowners!!
Kamala-you go girl!!!
Actually, unless it's a heavily antiquated rent control property, renters pay all of the property tax bill.
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