Posted by Sir loving on April 16, 1997 at 21:29:09:
Where will our middle class tax base go while developers tear down our neigborhoods to build luxury housing? Fat cats who own non-income producing horse farms upstate have the perfect writeoff and pay zero tax on all the money they overcharge the tenants. Speaking of who's subsidizing who, individual tenants who have been in their buildings for 50 or so years have paid for their buildings at least 4 times over. Many of the 10 unit smaller buildings (worth about 25K in 1946 dollars) were paid for and resold many of times over to different owners by now. I would dare say not one original owner is left to be had. And speaking of being had...what income limitations have been imposed on these landlords? Would it be fair to say that their income (before horse farms) should not exceed the same amount of income that they require of their tenants to be covered under the rent laws? What about the value they have placed on the apartments? Should'nt it go two ways? Hey, what's fair is fair, right? And speaking of requirements, shouldn't they at least be required to live in their buildings before the law is presumed in their favor? I hear someone was thinking of passing a law requiring the tenants to give up their apartments if they had other homes. I'd like to see a fat cat landlord give up the rest of his buildings in order to decontrol any of the remaining rent regulated apartments in his building. The rule is simple...what's good for the goose is good for the gander.
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