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Senate dems take aim at investor home purchases
(thehill.com)
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this post was submitted on 13 Jul 2023
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Late Stage Capitalism
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The Stop Predatory Investing Act, introduced by Sens. Sherrod Brown (D-Ohio), Ron Wyden (D-Oregon) and others, would restrict investors who purchase 50 or more single-family rentals from deducting interest or depreciation on those properties from their taxes.
Even at 50, you already know that there's gonna be political pundits fearmongering about how Big Government is coming to take away your house or whatever.
Maybe it’s just a test like bernie’s proposal to tax a higher rate after 999 million annual income. No one makes that but why would they not pass that into law?
Oh boy, that'll show em!
Lmfao 50 is the upper bound of what petty bourgeoisie TikTok passive income sigma landlords own. I'm going to go out on a limb and guess that large property management companies will continue to enjoy the tax benefits of commodifying housing.🤡🤡🤡