CA can't even get rid of a tax break for vacation and second homes that would generate $300-400M for affordable housing. Cc @DavidChiuhttps://twitter.com/dillonliam/status/889554677943025664 …
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But by that reasoning, the income tax itself is an accident of history. There was almost no tax base for it when it was written into code.
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It was intentional to add an income tax. MID was not intentional. Furthermore it is regressive and has no impact on homeownership rates in
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"distorting the cost of owner-occupied housing relative to other investments"...? interest on all other investments is deductible as well.
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"disproportionately favoring high-income taxpayers" _all_ investment tax provisions affect high-income people more than low; not relevant
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