Comments on: A New Tax Credit Idea to Help Low-Income Renters

By: landlord protection agency

landlord protection agency — Tue, 21 Aug 2012 21:13:40 +0000

Bad tenants are such a pain. Have you looked into the landlord protection agency? You really have to make sure you search for a rental credit report.

By: pjr

pjr — Thu, 26 Jul 2012 19:42:15 +0000

That’s a good approach but the key issue is that we are providing tax subsidies way beyond helping people to buy and own their own homes. The current cap (interest on loans up to a million dollars) is far too high and more than one home is allowed. Coincidentally, many of our representatives in Congress want it this way for themselves. We could reduce the cap by three-quarters and still provide a valuable tax break for people who want to live the dream of owning their own home. A much lower cap would accomplish this goal for most homeowners without providing additional benefits to people in high brackets buying McMansions and second homes.

By: PeonInChief

PeonInChief — Thu, 26 Jul 2012 17:10:45 +0000

Supply and demand does not work in necessity markets, and rental housing is definitely a necessity market. Increasing supply can, in some cases, produce what John Gilderbloom described as the “boomtown” effect, where increased supply increases rents.

Affordable housing is not produced by eliminating zoning regs and letting the market do its thing. It’s produced when government agencies put money into producing affordable housing.

By: Colin

Colin — Thu, 26 Jul 2012 14:22:10 +0000

Suggestion: we get rid all federal involvement in housing including both tax credits and agencies such as the FHA, Freddie and Fannie. On the local level, promote deregulation — i.e. less restrictive zoning — that boosts supply and lowers housing prices and rents.

The last thing our tax code needs is yet another credit for some kind of economic activity.

By: David

David — Thu, 26 Jul 2012 11:53:39 +0000

Hard to imagine anything like this passing our dysfunctional congress. Helping poor people just isn’t on the radar, for either party.

By: D. C. Sessions

D. C. Sessions — Wed, 25 Jul 2012 19:39:24 +0000

Suggestion: turn the mortgage interest tax deduction into a 15% or 20% tax credit. Basically, remove the bias in favor of higher-income taxpayers relative to those with lower incomes.