To: MadIvan
Have they come up with "imputed income" there as well? I've heard that a number of leftists here in the states think that it's a nifty idea... It for home owners... If you own a home, and lets say that you have a long term mortgage, and your mortgage payment is say, $750 a month. But similar homes in your area are renting for say, $1000 a month, then according to the government, you have an imputed income of $250 a month, which means that for tax purposes, $3000 of "income" will be added to the sum total of your income...
Imagine what that will do to retirees who have already paid off their homes: Add an additional $12,000 a year to the amount they're taxed on.
Mark
27 posted on
12/10/2006 4:36:10 PM PST by
MarkL
(When Kaylee says "No power in the `verse can stop me," it's cute. When River says it, it's scary!)
To: MarkL
No, thank God - there's been no discussion of taxing imputed income. But give it time, I'm some idiot politician will propose it.
Regards, Ivan
32 posted on
12/10/2006 10:47:10 PM PST by
MadIvan
(I aim to misbehave.)
To: MarkL
Imagine what that will do to retirees who have already paid off their homes: Add an additional $12,000 a year to the amount they're taxed on
. I've heard that a number of leftists here in the states think that it's a nifty idea Sure it is a great idea from the point of view of a Communist. It in effect would remove any benefit of the ownership of property. The state would become your landlord.
With todays tax tables most retirees with a modest home in a good neighborhood would go from not being required to file a return to owing taxes at the end of the year.
Great plan for our socialist buddies.
35 posted on
12/11/2006 4:39:28 AM PST by
Pontiac
(All are worthy of freedom, none are incapable.)
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