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A comment on Among the Tax Bill’s Biggest Losers: High-Income, Blue State Taxpayers. Parent comment

Re:Among the Tax Bill’s Biggest Losers: High-Income, Blue St... by harryh on Tuesday December 05, 2017 @04:01PM (#15855921)
Also people who buy are subsidized by those who rent. We don't need a cap, the deduction shouldn't exist at all. In fact, homeowners should pay taxes on imputed rent like they do in The Netherlands, Iceland & Switzerland.
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Re:Among the Tax Bill’s Biggest Losers: High-Income, Blue St... by JBlue42 on Tuesday December 05, 2017 @08:35PM (#15857803)
>pay taxes on imputed rent

What does this mean? Rent that the home would go for?

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Re:Among the Tax Bill’s Biggest Losers: High-Income, Blue St... by harryh on Tuesday December 05, 2017 @08:41PM (#15857830)
Yes.

https://en.wikipedia.org/wiki/Imputed_rent

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Re:Among the Tax Bill’s Biggest Losers: High-Income, Blue St... by JBlue42 on Tuesday December 05, 2017 @08:51PM (#15857869)
Thanks.

I wonder how that would work out in LA where we already have high rents, high houses prices, and lower wages.

I don't quite know how much one can deduct off their mortgage in taxes but I would assume the imputed rent would be a similar amount in such a market?

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