Communist & Socialist Politics

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A political community for those who have communist and/or socialist beliefs and who are 100% opposed to Republicans and Democrats and who understand that voting doesn't work. Because you can't vote out fascists and oligarchs.

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zerkrazus

Biden proposes $10,000 tax breaks for first-time homebuyers, 'starter home' sellers (www.cnbc.com)

submitted 8 months ago by zerkrazus to c/communistsocialistpolitics

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Tax credits like this are an excuse to let corporate property owners continue to rip people off. This will do little to nothing to solve the problem. And that's assuming Congress would even pass it (they won't). A median home is ~$400,000. This is equivalent to only 2.5% back in this proposed tax credit. That's a joke. That'd be like if you spent $100 on something and got $2.50 cash back. Woo-fucking-hoo. It's far too little.

And again, we need the actual upfront cost coming down not something that will take time to get back. We need price controls. They're not going to voluntarily lower prices and they're not going to build more to increase supply to lower prices, because they don't want prices to be lower. That'd be less money for them. Yes, even if they were to end a lot the regulations these companies complain about, they're still not going to start building a bunch more houses. Again, that'd be less money for them.

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[–] MinorLaceration 7 points 8 months ago (1 children)

I feel like communities like this are hard to voice outside opinions in, but I'm wondering a couple things about OPs statement. The article says that the credit would specifically apply if you sell your home to another owner-occupant. How is that allowing corporate property owners to rip people off? If anything, this would incentivize sellers not to sell to corporations. As far as $10,000 goes, that's not a large percentage in higher priced markets, but it is substantial in markets where homes are ~$100,000. Now, you could argue that maybe it should be percentage based, but that would only serve to benefit higher value homeowners. I'm wondering what OP would like to see instead of a $10,000 credit.

[–] zerkrazus 0 points 8 months ago

You're more hopeful than I am or perhaps a bit naive if you don't think corporations will find some way to take advantage of this if it were to pass. They're the scummiest scumbags there are and there's a reason they pay little to no taxes. Because they have entire departments whose entire jobs are to figure out stuff like this.

I thought I mentioned it in the OP but I think we need price controls because housing costs have exponentially increased out of control in this country. And sellers, especially corporate ones, have zero incentive to lower them and every incentive to raise them even more.

As for this community not allowing outside opinions, that's kind of the point. The main politics community might be more to your liking if that's something you're interested in. They don't seem to care for communist and socialist views over there in my experience, hence the creation of this community, to discuss political topics with a communist and/or socialist view.