The Stop Wall Street Landlords Act has been introduced in Congress by Rep. Ro Khanna. The bill would raise taxes on the purchase of single family homes by private equity and corporations.
That's not actually what those words mean, although I understand what you're saying. Also, if you're trying to imply that fines cannot be used to greatly dissuade various undesirable behaviors, the real world would disagree with you.
Don't remember what the business was but there have been cases of businesses using individuals names on paperwork, saying they own the business, but that person has zero responsibility and gets no pay for it. Probably it was on an episode of Last Week Tonight.
Not only would it make sense for each of the shell people to have the income on their own tax statements when running that sort of subsidizing loan operation, but its actually got fiscal incentive to be done that way because it puts them in lower brackets.
Plus, given the number of foreign owners invested in US properties, it would be difficult or possibly even impossible to charge and expedite them for tax evasion given the tightly constrained budget of the IRS and therefor their inability to go after people without a gaurantee they can earn more back than they spend on the court proceedings.
I can't follow your reasoning. If companies cannot own houses, how do you propose this shell-ownership would work? Wouldn't the owner just be free to sell the house at any time and pocket the cash for themselves?
As for tax evasion by foreigners that own real estate, I mean how is that even a problem? There's millions of foreigners that do business in the US everyday, plus, these ones have actual immovable assets that can be seized...
Just because California's cool doesn't mean the entire country gets to benefit. And until Citizens United at least gets weekend, then we've got fucking corporations with an equal or stronger voice than humans dying on the streets from heat stroke
ETA: I was obviously really tired and not thinking when I wrote this. I'd edit it, but I like to own up to my mistakes. Have a great weakened, everyone!
You're making very valid points and I appreciate your optimism. I'm just being a sarcastic, salty little baby about shit cuz I'm in a mood about all this.