return2ozma@lemmy.world to politics @lemmy.world · 9 days agoHarris Plan Would Bring Tax Increases for Richest 1% and Cuts for the Bottom 99%www.commondreams.orgexternal-linkmessage-square45fedilinkarrow-up1628arrow-down114cross-posted to: politics@lemmy.worldnews@lemmy.worldeconomics@lemmy.ml
arrow-up1614arrow-down1external-linkHarris Plan Would Bring Tax Increases for Richest 1% and Cuts for the Bottom 99%www.commondreams.orgreturn2ozma@lemmy.world to politics @lemmy.world · 9 days agomessage-square45fedilinkcross-posted to: politics@lemmy.worldnews@lemmy.worldeconomics@lemmy.ml
minus-squareTolookah@discuss.tchncs.delinkfedilinkarrow-up51·9 days agoRewrite the laws that if it’s collateral, it’s realized.
minus-squaresnooggums@lemmy.worldlinkfedilinkEnglisharrow-up47·edit-29 days agoTax the loans based on collateral as income and you don’t even need to figure out the value of the collateral.
minus-squareSaltySalamander@fedia.iolinkfedilinkarrow-up5arrow-down2·9 days agoThen everyone taking out a home equity loan suddenly has to pay the taxes as if they sold their house.
minus-square4am@lemm.eelinkfedilinkarrow-up11·9 days agoOk so make it that equity in a primary residence is exempt.
Rewrite the laws that if it’s collateral, it’s realized.
Tax the loans based on collateral as income and you don’t even need to figure out the value of the collateral.
Here we go; this guy gets it.
Then everyone taking out a home equity loan suddenly has to pay the taxes as if they sold their house.
Ok so make it that equity in a primary residence is exempt.