$2.5 billion per year.
So who’s subsidizing who now, right? You can see how quickly the talking points diminish when advocates say homeowners should pay out an extra billion per year.
Sure, fair is fair. But kill the PTT first.
Checked out the budget, and they have $2.0 billion budgeted for this year from PTT. And with regards to subsidizing, even if you got rid of the PTT, couldn’t you say technically homeowners subsidized the HoG via their income taxes (70% of people own, paying probably more than 70% of $11.2 billion)?
But when homeowners have at least 5x the net worth of renters, it seems like we need to even the playing field a bit. And still don’t understand why Joe High Income Earner with no mortgage needs help paying their taxes, just because they paid the PTT once or twice. Just think the $1 billion could be better spent on affordable housing, or raise the shelter subsidy for persons with a disability from the decade plus old rate of $375/month. They could probably use the help more than a lot of homeowners.
But this debate seems to be going in circles again, so we might as well call it a day.