> Exempting the implicit value of rent is a subsidy favoring owner occupied housing. When I go kayaking it costs me $35/hr for renting the kayak, which is inco

> Exempting the implicit value of rent is a subsidy favoring owner occupied housing. When I go kayaking it costs me $35/hr for renting the kayak, which is income for the rental store and (presumably) they pay income tax on that. Except I don't really pay because I bought my own kayak so I get to go for free whenever. Your proposal amounts to abolishing the whole concept of property ownership.