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Posted by Stuart Bronstein on August 4, 2007, 4:57 pm
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>> It's a crying shame there is so much abuse on this. A simple
>> Tax credit for renters would force out billions in
>> unreported income.
>>
>> Why are such simple solutions avoided??
> ANOTHER tax credit to appease a minority. RE already has
> the best tax credit available with depreciation, Schedule E
> expenses, and more room for cheating than on a Schedul C or
> A. PLUS the investment keeps up with inflation and has a
> high cash yeild. I don't think we have to pamper (payoff
> with a credit) anyone (them) honest. They'll cheat on top
> of the credit (ala the Earned Income Credit to entice people
> to go out an earn money).
The idea is that a renters credit would smoke out who
receives the rental income, not that the credit would be
sufficient to make people not want to cheat.
Stu
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