[MarkL]

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

[MadIvan]

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

[Pontiac]

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 today’s 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.