It squeezes some New Yorkers hard in order to provide what can be a $90,000-a-year windfall for a few [Josh Barro, New York Times] How has the policy worked in Washington, D.C. and nearby Montgomery County, Maryland? [Emily Washington, Market Urbanism]
More: Lots of goodies financed by taxpayers get thrown into the subsidy mix too, says Jim Epstein at Reason.
One Comment
And a tax free windfall at that. I’d have to earn over $180,000 more to clear another $90k.
It sickens me when the left complains about tax breaks for the ‘rich’ the middle benefits from trillion dollar tax loopholes. No income tax from imputed income when they live in a foreclosed house free for two years befor the bank actually takes it. And the elimination of income tax on forgiven mortgage debt. This was a trillion dollar tax holiday for