HUD Secretary Ben Carson to propose tripling rent for low-income Americans receiving federal housing

[DonViejo]

Source: The Washington Post

By Tracy Jan April 25 at 12:57 PM

U.S. Housing and Urban Development Secretary Ben Carson on Wednesday will propose tripling the amount low-income households are expected to pay for rent as well as encourage those receiving housing subsidies to work, according to the administration’s legislative proposal obtained by The Washington Post.

The move to overhaul how low-income rental subsidies are calculated would affect more than 4.5 million families relying on federal housing assistance. The proposal legislation would require congressional approval.

Currently, tenants generally pay 30 percent of their adjusted income toward rent or a public housing agency minimum rent not to exceed $50. The administration’s legislative proposal sets the family monthly rent contribution at 35 percent of gross income or 35 percent of their earnings by working 15 hours a week at the federal minimum wage — or approximately $150 a month, three times higher than the current minimum.

The Trump administration has long signaled through its budget proposals and leaked draft legislation that it seeks to increase the rents low-income tenants pay to live in federally subsidized housing.

Read more: https://www.washingtonpost.com/news/wonk/wp/2018/04/25/hud-secretary-ben-carson-to-propose-rent-increases-for-low-income-americans-receiving-federal-housing-subsidies/

[rsdsharp]

1. You're not supposed to

pocket the profits, Ben.

[Sophia4]

2. Cruel.

[wroberts189]

30. +1 n/t

[InAbLuEsTaTe]

32. BEYOND cruel... un-fuckin-believable!!

Shit like this really brings home the nightmare that is the tRump administration... one we never seem to wake up from.

[GoCubsGo]

37. Yep. Par for the course.

I have yet to see a member of this administration that isn't cruel and sadistic. Carson fits right in.

[Angry Dragon]

3. Ben is your friend/fiend

[Freethinker65]

4. Gotta pay for those tax cuts somehow. Do not worry middle class, you will get to sacrifice too

The wealthy need more money to survive, everyone else can make do with less money, subsidies, and social services. Just wait until we are asked to pay for previously public services that will now be privatized to make the wealthy even more wealthy. So much winning!

[MarcA]

9. That's been the goal all along - Economic Terrorism n/t

[IronLionZion]

15. They want to keep people desperate and unable to afford basic housing

to create a permanent servant class of people in America who will gladly do whatever is asked of them by the wealthy folks in order to have a roof over their children's heads.

[aggiesal]

22. They're already screwing the middle class ...

with the latest Tax law.

For me, the Spousal Support Payments will no longer be consider tax deductible to me, and
income for the spouse. Basically unearned income for my X, while I pay the taxes.

Then, I'm tapped at $10,000 federal deduction to use with either Property Taxes, Mortgage Interest deduction or CA. State income tax or any combination of.
All three exceed $10,000 on there own, so the new tax bill is a huge tax increase for me.

[Kensan]

23. Not quite right...

The new tax law does have some serious consequences for many taxpayers, especially those in "blue states" that tend to have higher state tax rates. However, the $10,000 ceiling is on the combination of real property and state income taxes (basically the Sch A, line 5 amount).

For mortgage interest expense, the new law looks at the total principal balance of the loan. If the loan is greater than $750,000, then the interest expense is disallowed using the formula of (average loan balance - $750,000) / $750,000 x interest expense. If you had an existing loan that qualified for the mortgage interest deduction prior to passage of the new law, that loan is grandfathered, and you can continue deducting the interest using the prior limitation (which set the principal amount at $1,000,000).

Both provisions were basically targeted at middle to upper middle class blue state taxpayers. Those taxpayers live in high tax rate states, and their property values are generally very high. It really boiled down to a middle finger to states that don't vote Republican. I hope to see several of my state's (California) republican representatives lose their seats this coming November, and flip control of the House. Controlling the Ways & Means Committee is a must.

[Ilsa]

27. Our property taxes plus state income tax were $5 below $10,000.

For 2018, we won't be able to deduct all of this expense, and we aren't rich or in a blue state.

I wonder if there is a way to transfer the property to a business we own and then rent the house from, and if that would help us avoid fewer deductions?

[Kensan]

33. Without getting too into the weeds...

Your house is obviously a personal asset, so generally expenses associated with it are non-deductible or itemized deductions. The business portion of the a home may still qualify for prorated deductions under the "home office expense" provisions. You should speak with your accountant, so you can determine if you qualify. Generally, you determine a room or area that is used exclusively for business purposes. It helps if you really have set up an office setting or some kind of workbench with tooling, etc. Then you take a ratio of square ft of that room / square ft of house x eligible expenses. Those prorated expenses would be reported on your Schedule C or business entity.

The exclusive part of the rules is what gets people in trouble. Don't use your living room as your business space, since you will use that for both personal and business purposes.

Hope that helps.

[Ilsa]

40. Thanks, that is helpful. Don't know if I'll be able

to put something together for it, but I might, if it is real, not a hobby.

[Eliot Rosewater]

28. The question my accountant STILL cant answer is if a person has a house

and one single family dwelling RENTAL will the property taxes of the RENTAL be subject to that $10,000 limit or only the property tax on the primary residence plus state income tax.

I say "only" just to illustrate the question, what Rump is doing is specifically harming people who did not vote for him, because he is a traitor and a prick.

[Kensan]

34. The new law applies to itemized deductions...

Your rental property is a business, so there is no limitation on the real property taxes that can be deducted. The rental property itself still has its own limitations under the passive activity rules.

But you may be able to thank the self-servicing Senator Corker, as you might actually get some use out of the new IRC 199A flow-through deduction on the rental property.

As always, insert the general disclaimer to talk with your tax professional.

[Eliot Rosewater]

35. My own CPA was not sure, and he is a CPA. Sounds like you are right though the way you

frame it, thanks.

[progree]

5. My REC is for exposure, not for the policy n/t

[Submariner]

6. Stabby has a mean streak

Elizabeth Warren made him look like the incompetent Trump tool he is last week.

[G_j]

7. once a war on poverty

now a war on the poor. This should really help when they also take away their food stamps and Medicaid.

[liberalhistorian]

38. That statement, "Once a war on poverty,

now a war on the poor", should be the new tagline of the Democrats, including every single Dem candidate for any office. Bring it home how horrendous, selfish, cruel, in-Christian and in-American the entire fucking repub party is.

[dalton99a]

8. Ben Carson doing his part to inflict as much harm as he can to poor people

[Eliot Rosewater]

29. They are hoping they can drive them into the streets where they can starve to death

[TranssexualKaren]

10. Heres the plan....

Homeless people can’t vote, so why subsidize obviously “hardened Democrats”

[meadowlander]

11. On the plus side, the wait list for Section 8 housing is about 3 or 4 years now

in parts of the country where they haven't closed the list altogether because the demand was so high. In LA there's a lottery just to get on the waiting list.

So because we've sold off or privatized so much state housing and replaced it with a voucher system that doesn't work there are a lot fewer people receiving housing subsidies that there were twenty years ago to be affected by the rent hike.

On the other hand, more homeless people... and we need to spend more on emergency healthcare, law enforcement and other social services. And it's harder for them to get a job because they're less likely to have internet access, a car to get to work, clothes suitable for workplaces or regular access to showers.

[uberblonde]

12. Monsters.

Just ... monsters.

[wroberts189]

26. +1 n/t

[onecent]

13. THIS is outrageous!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[wroberts189]

25. +1 n/t

[PaulX2]

14. While Cutting Taxes For Billionaires And The Corporations They Own

Carson = Human Feces

[Wellstone ruled]

16. This POS is here in Vegas today.

And we are in the Greatest Housing crunch in history. Just so one understands how ugly it has gotten. There was a proposal to raise the Minimum Wage April first here in Nevada,well,you can guess what happened,yup,our Governor and Treasury Secretary caved to the Casino Moguls wishes. 7.25 is still the floor. If you work Hospitality and not for a Sheldon Adelson owned Casino,your starting Pay is 12 bucks plus,if not,it is 7.25.

Rents have gone from 650 for one Bedroom apartment too well over a Grand a month. Yes there are dumps available for less in one area,but be prepared for a nightmare.

[StevieM]

17. Trump and Carson are truly disgusting individuals. (eom)

[geardaddy]

18. Dick.

[left-of-center2012]

19. He's mad he didn't get that expensive table for his office

[bitterross]

20. Right, because wages have certainly tripled in the last 30 years - NOT!

What an SOB! Just like the rest of them. Totally forgets his roots once he gets his and is all comfy.

[NBachers]

21. Kick out the ones that can't pay; then sell their units cheap to Hannity.

[wroberts189]

24. Not adjusted income ..its 30% gross income minus certain rare deductions.

God I hate this guy.... saying Veterans were living to large in homeless shelters (They sleep on beds? what's wrong with floor?) ..no not a quote but he was thinking it. I think he was referring to the one tv

While him and his wife go on taxpayer shopping sprees to dress up their office. Then lie about it to congress.

[Guilded Lilly]

31. These goddamed mongrels are economic Terrorists.

[Kablooie]

36. It's that old, delightful Republican theory.

People are only poor because they are lazy.

To make life harder for them than it already is has two wonderful benefits.
Firstly, it encourages them to get up off the couch and get a well paying job.
Secondly, and more importantly, it will punish them for being poor.

It is a crime to be poor in America, according to Republicans, and people should be punished for it by decreasing the amount of money they have.

[lindysalsagal]

39. Are they dumb enough to do this before november??

If so, it might bring back some of the OBama voters HRC lost......