Quote:
Originally Posted by crucifissio
avoiding taxes through loopholes is the same thing under any other name...
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There's a big difference between tax deferred and a tax write-off. I guess all the people that have Roth IRAs are leeches as well?
And whole premise of your argument is that I'm a leech and artificially raising real estate prices by buying and renting multifamily properties is laughable. I guess you could make an argument that people buying up real estate, specifically real estate that the income doesn't cover the expenses for a tax write-off could possibly affect home prices (supply vs demand), but that's not what I do here because the tax laws don't allow me to do it.
But again, I don't know enough about negative gearing to make a statement. Like I said, on its face you could say buying up all those properties just for a TAX WRITE-OFF will most likely raise the prices and price people out of the market (BAD), but then again many people have their net worth tied up in their homes so their net worth rises and ancillary effects of higher priced property such as higher property taxes would be good for the city/town (GOOD).