Wat_Tyler
Allah's Favorite
- Joined
- Apr 12, 2004
- Posts
- 58,387
Most people really don't have a clue about income and taxes for the wealthy. This is why they're always surprised that "the rich" don't pay taxes. The tax code is literally set up in a way for them to not pay taxes because their wealth creates more of a social benefit than the taxes they'd pay without the tax break they're given.
Even something simple as low income housing creates a tax break. If it didn't there wouldn't be such a thing, even if mandated by law, because paying the penalties would be cheaper than complying without a tax benefit.
Wat has been doing low income housing in one form or fashion for a whole lot of years all in a row. There are some interesting stuff about that, including the bargain basement loans that HUD puts out there. And the administration thereof. And the tax credits. They really make it so if you pump some money into energy efficiency and general upgrades of an LIHTC property that your first few years of profit go back in your pocket.
Our poor little libturds would lose their minds if they had any idea.