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This is a pretty reasonable thing to suspend at a time when landlords are essentially forgiving huge amounts of rent. It's super reasonable that they be able to deduct those losses on their taxes in an unlimited fashion.
>because of additional language that applies the policy retroactively “so losses in 2018 and 2019 can be ‘carried back’ against the past five years.” Damn, must be nice.
Surely this is what I’m paying taxes for. Could go to healthcare for all, fixing my roads and access to education, creating a strong resilient nation for all of us. But this is so much better.
Earlier quoted context omitted.
Only if they don't request to be paid back later for said rent. Otherwise, that's just giving rich people free money.
People who can't pay rent now are unlikely to be able to ever pay it back later. It's probably better for everyone to just write it off.
This is a pretty reasonable thing to suspend at a time when landlords are essentially forgiving huge amounts of rent. It's super reasonable that they be able to deduct those losses on their taxes in an unlimited fashion.
Where have you heard that landlords are forgiving rent? That's not the case at all. You still owe all of that rent. This kind of attitude is increasing bizarre in the current world.
I assume he's confusing it with evictions being put on hold.
> You still owe all of that rent.
Indeed.
Earlier quoted context omitted.
If anyone pays a million less in taxes then someone gave them a million dollars back. so yes, you are giving them something. One can argue in some irrational way that taxes are theft so you never 'give' someone something if you reduce their taxes. At the end of that game, you have more money than you had before, gift or other political arguments aside. Someone who was going to pay a million in taxes and now has 1 mil…
> is not going to put their money into the economy the same what that 1000 people with moderate income, like say restaurant workers getting $1,700 would. Those people poorer will spend all that money. Wealthier people spend or invest all of their money. Only drug dealers hoard cash, and that's only because they have difficulty laundering it.
Earlier quoted context omitted.
If anyone pays a million less in taxes then someone gave them a million dollars back. so yes, you are giving them something. One can argue in some irrational way that taxes are theft so you never 'give' someone something if you reduce their taxes. At the end of that game, you have more money than you had before, gift or other political arguments aside. Someone who was going to pay a million in taxes and now has 1 mil…
> is not going to put their money into the economy the same what that 1000 people with moderate income, like say restaurant workers getting $1,700 would. Those people poorer will spend all that money. Wealthier people spend or invest all of their money. Only drug dealers hoard cash, and that's only because they have difficulty laundering it.
They are not getting anything from the US government – they pay less taxes. This article tries to make a case a if it was the same thing. It is not.
If so - lol for now.
If not, why is this mental gymnastics?
This article is a summary of the original: https://www.washingtonpost.com/business/2020/04/14/coronavir...
Earlier quoted context omitted.
Only if they don't request to be paid back later for said rent. Otherwise, that's just giving rich people free money.
People who can't pay rent now are unlikely to be able to ever pay it back later. It's probably better for everyone to just write it off.