The "Sharing" Economy: Issues Facing Platforms, Participants, and Regulators A Federal Trade Commission Workshop #00585

Submission Number:
00585
Commenter:
Margaret Taylor
State:
Kentucky
Initiative Name:
The "Sharing" Economy: Issues Facing Platforms, Participants, and Regulators A Federal Trade Commission Workshop
I own a building that houses my shop and I live above the shop. The economy has not been as great as I had expected, and I am renting out my home above the shop to make ends meet, to pay taxes, to keep my investment. I am quite sure I would not have been able to save my investment if I could not generate the additional income from renting out my home. One thing to keep in mind when it comes to competition is that I am taking a huge risk to rent out my home to strangers, and I am willing to take that risk in order to generate the income. I might not want to take the risk if the sharing economy was regulated and taxed. It's not a hotel, but my home, and it contains all my favorite things from a lifetime. When I rent it out, people are grateful, they take care of it, and they spend money in the neighborhood on food, shopping, and other services. It really increases the business revenue for the other establishments in my neighborhood and beyond. My home is very clean, and offers a true view of what it's like to live in my neighborhood (as opposed to a hotel experience). I would be willing to submit to random inspections, since my place is clean and safe. I have good insurance as well. I definitely want to see the sharing economy succeed without too many regulations or rules, and without more taxes. I am already paying tax on the income. Another point is that the sharing economy shows that there is a demand for agile competition. Regulation increases cost, and I believe that people who use the sharing economy understand that it's not the same experience, but could be even better, cleaner, more efficient for a better price. Many thanks, Margaret Taylor, PhD Organizational Leadership