22winmag - ZH refugee who just couldn't take the avalanche of damn-near-hourly Bitcoin and doom porn stories
December 27, 2017 8:24 am
A man can dream.
Iska Waran
December 27, 2017 9:23 am
This tax reform bill basically just eliminated any income-tax-related rationale behind owning a home, as opposed to renting. I don’t know if that’s good or bad, but it’s more consequential than people have figured out. The old “buy a home, you’ll save on your taxes” is no longer true for most people.
Property taxes PLUS state income taxes limited to $10,000. This really hurts us shlubs in high tax blue states (probably by design- Trump thumbing his nose at states that didn’t go his way).
That’s ok- we deserve the pain.
lmorris
December 27, 2017 10:50 am
All taxes are I’m going to take your money and so just shut up and like it and if not too damn bad
rhs jr
December 27, 2017 12:57 pm
Any Economy built on cutting Federal taxes (made up by printing more green paper) is a Wimpy Economy (give me a hamburger today and I’ll pay you Friday). The Fat Guy is never going to pay and the working guy is going to lose his ass.
TS
December 27, 2017 5:08 pm
IMO, the ‘economy’ as pictured is about 2′ of ‘water’ and about 10′ of debt ‘sludge’. When things really get flowing, it will be really quenching for a bit until the really nasty stuff breaks lose. Just the nature of the way things work.
A man can dream.
This tax reform bill basically just eliminated any income-tax-related rationale behind owning a home, as opposed to renting. I don’t know if that’s good or bad, but it’s more consequential than people have figured out. The old “buy a home, you’ll save on your taxes” is no longer true for most people.
It also is no longer beneficial from a tax stand point to make charitable contributions for most people.
That will be a blow to Hillary and the Clinton foundation.
Most people don’t buy homes worth more than $750,000. MTG interest under that amount is still deductable as are property taxes up to $10,000.
Property taxes PLUS state income taxes limited to $10,000. This really hurts us shlubs in high tax blue states (probably by design- Trump thumbing his nose at states that didn’t go his way).
That’s ok- we deserve the pain.
All taxes are I’m going to take your money and so just shut up and like it and if not too damn bad
Any Economy built on cutting Federal taxes (made up by printing more green paper) is a Wimpy Economy (give me a hamburger today and I’ll pay you Friday). The Fat Guy is never going to pay and the working guy is going to lose his ass.
IMO, the ‘economy’ as pictured is about 2′ of ‘water’ and about 10′ of debt ‘sludge’. When things really get flowing, it will be really quenching for a bit until the really nasty stuff breaks lose. Just the nature of the way things work.