[Verse 1]
Sarah owns her Victorian on Maple Street
John rents the duplex right across the way
Same four walls, same shelter from the sleet
But Revenue Canada treats them different every day
Sarah's phantom income never sees a bill
While John pays rent with dollars already taxed
The ghost of imputed value stays invisible
One builds wealth while the other's future's maxed
[Chorus]
Section forty, subsection two, paragraph B
Principal residence exemption, tax-free spree
Homeowner subsidy hidden in plain sight
Same economic function, treatment's black and white
Mortgage interest dancing through creative schemes
While renters fund their housing from depleted streams
[Verse 2]
Sarah's basement office lets her split the cost
Portion business, portion personal domain
Interest deductions that would leave John lost
He'll never see such shelter from tax pain
Capital appreciation builds her nest
Every year her equity climbs tax-free
John's monthly payments vanish with the rest
No wealth accumulation, just rent receipts
[Chorus]
Section forty, subsection two, paragraph B
Principal residence exemption, tax-free spree
Homeowner subsidy hidden in plain sight
Same economic function, treatment's black and white
Mortgage interest dancing through creative schemes
While renters fund their housing from depleted streams
[Bridge]
Political settlement wrapped in legal prose
Not principled economics, just compromise
The tax code picks its winners, everyone knows
Shelter's just shelter, but the treatment lies
Imputed rent flows phantom through the night
While after-tax dollars drain from tenant pockets
[Final Chorus]
Section forty, subsection two, paragraph B
Homeowner's golden ticket to stay debt-free
Same roof overhead, radically different fate
Tax law's philosophy can't justify this state
Remember the subsidy floating unseen
Housing equity's the most favored machine
[Outro]
Same economic function
Different tax construction
The enrichment doctrine questions why