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re: Would you support a ban on foreigners purchasing residential US real estate?
Posted on 3/6/23 at 4:19 pm to AwgustaDawg
Posted on 3/6/23 at 4:19 pm to AwgustaDawg
quote:
VERY simple way to make them less attractive to investors, but that would require investors to pay taxes like working people do. That ain't going to happen because you can't tax businesses lest you dampen the mythical trickle down effect.....make real estate investment unattractive from a tax POV and all of a sudden no investors other than people actually living in a house would be interested. Of course that ain't gonna happen because it would mean some regulation of investment and you can't have that....
The only glimmer of wisdom in this communist manifesto is an inference to tax law changes, the only one of which would make sense, is to stop allowing companies to write off depreciation unless they've actually taken a loss to depreciation, as in, if they bought a property 10 years ago for a million, then sold it for only 900,000 ten years later because of actual depreciation, then a $100k loss is a legitimate write off that tax year.
This post was edited on 3/7/23 at 12:55 pm
Posted on 3/7/23 at 6:03 am to deeprig9
quote:
The only glimmer is wisdom in this communist manifesto is an inference to tax law changes, the only one of which would make sense, is to stop allowing companies to write off depreciation unless they've actually taken a loss to depreciation, as in, if they bought a property 10 years ago for a million, then sold it for only 900,000 ten years later because of actual depreciation, then a $100k loss is a legitimate write off that tax year.
Personally I am of the opinion that corporate taxes should be 0% across the board because at the end of the day consumers pay 100% of corporate taxes in the price structure of every product and service they purchase...you ain't staying in business long if your sells do not produce enough revenue to meet your nut including all taxes. It would also preclude, ideally, the picking of corporate winners and losers through tax policy. Investing in real estate, however, is an exception to this, again in my humble opinion, because real estate speculation can negatively impact a basic need for human survival. While there should be NO law or regulation preventing real estate speculation there certainly ought not be any law or policy which makes it more attractive than the market would dictate. Shelter is necessary for survival...in a capitalist economy there is no legitimate means of controlling market forces even on basic necessities....but there sure as hell ought not to be policies and regulations which increase the costs of those basic necessities.
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