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RE: Should we give tax breaks to the stupid?
Posted on: October 18, 2018 at 08:30:02 CT
o'lineydisciple MU
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As I see it all this does is incentivize some people to rent more expensive places than they need.
It also seems like a SUPER GREAT DEAL for retired folks who will certainly have income less than $100,000.
Say if someone is retired and gets $20,000/year in social security benefits...that 30% is $6,000/year or $500/month.
Which would mean, as I take it, that NO MATTER WHERE they live, their rent is $500/month.
So what you'll have happen is the husband buys the house (or their kids, brother, whatever), and rents it to the wife at $3,000/month.
Wifey pays husband $500/month in rent and the government pays the wifey (who files taxes seperately) $2,500/month as a refundable tax credit.
Not a bad way to get an extra $30,000 from the government each year.
It also seems like a SUPER GREAT DEAL for retired folks who will certainly have income less than $100,000.
Say if someone is retired and gets $20,000/year in social security benefits...that 30% is $6,000/year or $500/month.
Which would mean, as I take it, that NO MATTER WHERE they live, their rent is $500/month.
So what you'll have happen is the husband buys the house (or their kids, brother, whatever), and rents it to the wife at $3,000/month.
Wifey pays husband $500/month in rent and the government pays the wifey (who files taxes seperately) $2,500/month as a refundable tax credit.
Not a bad way to get an extra $30,000 from the government each year.
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RE: Should we give tax breaks to the stupid? - o'lineydisciple MU - 10/18 08:30:02