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Landlords should have to pay income tax on their rental properties regardless of whether they're rented out or not. (gothamist.com)

submitted 1 year ago by Blaze@discuss.tchncs.de to c/personalfinance@lemmy.ml

59 comments fedilink hide all child comments

cross-posted from: https://lemmy.crimedad.work/post/12162

Why? Because apparently they need some more incentive to keep units occupied. Also, even though a property might be vacant, there's still imputed rental income there. Its owner is just receiving it in the form of enjoying the unit for himself instead of receiving an actual rent check from a tenant. That imputed rent ought to be taxed like any other income.

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[–] Olgratin_Magmatoe@startrek.website 0 points 1 year ago (1 children)

What should people invest in then?

Literally any other type of business.

How is land ownership handled?

People should still be able to own land for their own personal use. Land used to extract wealth on the other hand should be more tightly controlled. We should ideally implement georgism to free up the land that the rich own and to increase land use efficiency. After that ownership should look pretty much identical.

[–] Manmoth@lemmy.ml 0 points 1 year ago (1 children)

Literally any other type of business

You've just eliminated perhaps the safest, most attainable method for the average person to achieve passive income.

Owning land for personal use

Other than living on it, why would someone want to own land?

[–] Olgratin_Magmatoe@startrek.website 0 points 1 year ago* (last edited 1 year ago) (1 children)

You’ve just eliminated perhaps the safest, most attainable method for the average person to achieve passive income.

If the "safest most attainable way" to get wealth requires others to be homeless or unable to afford a basic necessity then it isn't not worth it.

And it arguably isn't the most attainable way, because so many people are being priced out of owning a home because of the current system's failures.

Other than living on it, why would someone want to own land?

To use it for a business or enjoyment. I'm not sure where you are going with this.

[–] ksynwa@lemmygrad.ml -1 points 1 year ago

The average person is not a landlord