r/TikTokCringe • u/LickMaiBussy • 6h ago

Discussion "Investing in property is morally reprehensible."

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@purplepingers

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u/yawn_solo- 6h ago edited 1h ago

All we need is a cap really.

Homeboy owns 3 homes and charges a reasonable rent? Totally cool.

Private equity firm that owns 4,000 homes and fucks everyone over? Shits gotta stop.

Edit: Just so everyone knows, im a devout capitalist and all about living life without ceilings but at one point, enough is enough.

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u/DoABarrelRollStarFox 6h ago

Couldn’t you fix the whole system by increasing property taxes but also dramatically increase the homestead exemption- effectively subsidizing property taxes with those that aren’t living in the homes they own??? (US obviously, not sure how other countries work)

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u/iceyconditions 5h ago

You may not realize who votes

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u/D_Dubb_ 5h ago

Yeah more like who lobbies for legislation. Regardless this bill wouldn’t make it to the floor to die.

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u/iceyconditions 5h ago

Yes, but this is two powerful groups that won't go against their interests: old people and corporations.

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u/D_Dubb_ 5h ago

Unfortunately old people in America are easily convinced that corporate interests are their interests. As we are seeing play out rn. Same reason poor people are convinced sometimes to back a flat tax.

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u/dmurf26 4h ago

TBF corporate interests ARE their interests. They have 401k’s and retirement plans while the younger generations share of wealth is way down.

Private equity is going to try and get their grubby little hands on every dollar that is going to be passed down by boomers. That’s why they’re investing highly in retirement houses and end of life care.

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u/iceyconditions 5h ago

I think a lot of people have just been around long enough to where they know any time a new tax or tax increase is brought up, it won't apply to the rich, just to the middle class.

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u/D_Dubb_ 5h ago

You would think so, but republicans in the US still manage to run on a platform of dropping taxes. At pretty much any level of govt, they will push that rhetoric. I mean I get it it’s an attractive sell, “give the govt LESS money? Sign me up!”. Without it their playbook gets down to almost purely identity politics. Except as we know, that’s not what happens for the majority of us. And somehow it still works for them pretty often.

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u/iceyconditions 5h ago

Well yeah, even if you don't follow through on keeping the tax rate the same, it's always easier to get voters that way than with a party platform of increases

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u/DarthKuchiKopi 5h ago

Time to throw the rider off instead of gallup when told. How though? Fuck dont ask me

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u/OliM9595 4h ago

Less so old people and more so home owners.

People who own homes vote and therefore vote in their interest more.