I'm not mixing anything together. The intellectual property, real property or personal property you are referring to is the product of all the risks and costs I'm talking about. And, the rent-seeking from that property is the reward. And, that rent-seeking is very much taxed, contrary to the author's contention, at multiple levels and in many ways.
>intellectual property, real property or personal property you are referring to is the product of all the risks and costs I'm talking about
What? I'm sorry but that went straight over my head. You said
>... As an owner I wish this were true. For me and most owners I know work is mandatory, and its 60 hour weeks and a lot of sleepless nights. There is no safety net. There is no unemployment. I get no workman's compensation. I have no employment law protections. Its, as one HN comment said some time ago, "a suffering contest" a lot of the time.
Which looks very much like something a startup owner, or atleast a new business owner would say. I can assure you a property owner will sing a very different tune.
>And, that rent-seeking is very much taxed, contrary to the author's contention, at multiple levels and in many ways.
The author didn't deny that. He just said how he was re-investing the income therefore isn't going to get taxed on the rent. This again tells me that you didn't read the article properly.
Owning real estate means that your income is market rent - carrying cost - amortized capital expenses.
My coworker owns about a dozen 2-4 family properties and spends about 10 hours a week on them. Most tenants are section 8, which means he's paid on time by the government and gets above market rate for marginal property. He probably nets around $250k.
