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Message
a classic example of perception vs reality in govt spending
Posted on 10/11/17 at 12:53 pm
Posted on 10/11/17 at 12:53 pm
quote:
Federal housing benefits are disproportionately enriching wealthy households, according to a study by Apartment List.
The San Francisco-based company, which runs an apartment listings search engine, analyzed Internal Revenue Service and Housing and Urban Development data, The Washington Post reports. It found a popular tax break, the mortgage interest deduction, or MID, cost the federal government $71 billion in 2015, more than double the amount spent on Section 8 funding for low-income renters ($29.9 billion).
Both programs provide housing assistance, but the MID primarily benefits people who can afford to purchase a home and who can profit from the wealth-building aspect of homeownership. Section 8 helps low-income renters such as disadvantaged families, the elderly and disabled. These renters pay the difference between the rent and the subsidy.
More than half of high-income households claim MID, but only 11% of low-income households receive help with their housing costs.
the mortgage interest deduction keeps homeowners' earnings in their own pockets, where it belongs. it is NOT government spending and does NOT cost the government anything. moreover, only taxpayers "enjoy" the MIB.
the reverse of the that is section 8 subsidies. this IS government spending that DOES cost the government money, typically "enjoyed" by non-taxpayers
unbelievable that shite like this gets published (business report via the washington post, BTW)
This post was edited on 10/11/17 at 12:57 pm
18
Posted on 10/11/17 at 12:54 pm to cgrand
There are an awful lot of big words in your OP for this to be on the OT.
Posted on 10/11/17 at 12:56 pm to cgrand
quote:
the mortgage interest deduction keeps homeowners' earnings in their own pockets, where it belongs. it is NOT government spending and does NOT cost the government anything. moreover, only taxpayers "enjoy" the MIB.
So in other words your entitlement is fine because it's yours.
Posted on 10/11/17 at 12:57 pm to cgrand
I'll try an interpret into OT:
Deezzz baws buying these 400-500k homes shouldn't be gettin any assusssitance like us po folk.
Remove the tax benefit for dem and give us mo section Ate.
Deezzz baws buying these 400-500k homes shouldn't be gettin any assusssitance like us po folk.
Remove the tax benefit for dem and give us mo section Ate.
Posted on 10/11/17 at 12:57 pm to cgrand
quote:
according to a study by Apartment List
These are not impartial observers. Home ownership is their competition.
Posted on 10/11/17 at 12:57 pm to cgrand
Attempt to trigger homeowner's guilt. Will really appeal to the weak minded receiving Section 8.
Posted on 10/11/17 at 1:00 pm to cgrand
quote:
(business report via the washington post, BTW)
Big liberal POS newspaper. Same as NY Times
Posted on 10/11/17 at 1:01 pm to TheDrunkenTigah
quote:
So in other words your entitlement is fine because it's yours.
People keeping money that they've earned = entitlement?
Posted on 10/11/17 at 1:02 pm to cgrand
That's just bullshite. MID is a tax break - it's not a government hand-out program. A tax break doesn't cost the government anything - it's not the government's money in the first place. The money belongs to the actual tax paying citizen. Section 8 HUD is a subsidy handout. does cost the government/ taxpayer money - its money handed to someone who doesn't actually earn it.
Whoever wrote that is a idiot or a Communist.
Whoever wrote that is a idiot or a Communist.
This post was edited on 10/11/17 at 1:06 pm
Posted on 10/11/17 at 1:02 pm to cgrand
quote:
cost the federal government $71 billion in 2015
Um...it's almost as if they assume this is the government's money to start with.
Posted on 10/11/17 at 1:03 pm to TheDrunkenTigah
quote:What about the other $1 Trillion in other entitlements. Those aren't mine
So in other words your entitlement is fine because it's yours.
Posted on 10/11/17 at 1:04 pm to THRILLHO
quote:
People keeping money that they've earned = entitlement?
The tax deduction is a government program that financially rewards a segment of people based on qualifying criteria
Pretty much definition entitlement.
Posted on 10/11/17 at 1:09 pm to Count Chocula
quote:
What about the other $1 Trillion in other entitlements. Those aren't mine
Never said they were, but if you're anti-entitlement you shouldn't be doing logical backflips to justify people getting a lower effective interest rate on their mortgage as a pat on the back for buying a home. It's an entitlement program designed to make home ownership more attractive. Apply your beliefs consistently or don't apply them at all.
Posted on 10/11/17 at 1:13 pm to TheDrunkenTigah
quote:
It's an entitlement program
No, it's not.
Either you're being disingenuous or you're a fricking moron.
Posted on 10/11/17 at 1:15 pm to Centinel
Wonderfully crafted and enlightening retort. Calling me a fricking moron really cemented your position.
Posted on 10/11/17 at 1:19 pm to TheDrunkenTigah
Well, it's pretty obvious that a "tax break" is you keeping more of YOUR money. An entitlement is you being given money taken from another.
So...now that we have that out of the way, you're either being disingenuous on purpose, or you're a fricking moron.
Based on your response, it appears you're a fricking moron.
My condolences to your family.
So...now that we have that out of the way, you're either being disingenuous on purpose, or you're a fricking moron.
Based on your response, it appears you're a fricking moron.
My condolences to your family.
Posted on 10/11/17 at 1:20 pm to TheDrunkenTigah
quote:
Calling me a fricking moron really cemented your position.
Apparently the shoe fits, so wear it?
Posted on 10/11/17 at 1:32 pm to GenesChin
quote:
The tax deduction is a government program that financially rewards a segment of people based on qualifying criteria
Pretty much definition entitlement.
So a subsidy like the HUD grants takes money from other people and gives it to those that meet the criteria.
Where does the money to pay for the mortgage interest deduction come from?
Specific example. If I pay $2000 less because of the mortgage deduction, how does the government "afford" to pay me that subsidy?
Answer that and you can see how they are very, very different.
Posted on 10/11/17 at 1:35 pm to Centinel
It's useless to argue with these people. They believe all money is the gov't's and it is only through entitlement we get to keep any of it.
They are defeatists in nature.
They are defeatists in nature.
Posted on 10/11/17 at 1:35 pm to Centinel
quote:
An entitlement is you being given money taken from another.
So...now that we have that out of the way
We don't have that "out of the way", considering its a definition you just pulled out of your arse to fit your narrative, and that's the point. Entitlement is defined as a government program that provides benefits to any individual meeting certain eligibility requirements.
You can oppose the basic notion of taxes, many do, but that's another discussion. The fact remains that if you and I both make the same amount of money in a year, and incur the same tax burden, yet I get a refund simply because I bought a home and you rented, then I have received an entitlement.
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