The Tax Bill: Placing a Dagger in the American Dream of Home Ownership

Huffington Post ^ | 11 Nov 17 | Miles Zaremski

[Chgogal]

Met a NJ rabid teachers union boss on a cruise. I'm from Chicago and she assumed I was an Obamabot. She had no problem admitting the NJ Teachers Union spent all its money on reelecting Obama IN NJ? If I was a union member I would be furious.

[SkyPilot]

Succinct and good answer. Thank you.

[DivineMomentsOfTruth]

The price of everything has doubled in the past 10 years, while the investment income of those retired has almost been cut in half.

[SkyPilot]

They buy into the false assumption that they are loosing out if they are not buying the biggest most expensive home they can afford.

True, but that is also a product of our media infused and covetous culture.

My wife and said that if there was a drinking game whereby whenever said said on these home buying shows (like House Hunters, Property Brothers, etc.) the phrases "Granite Counter Tops", "Stainless Steel Appliances", and "Open Concept" - you would be smashing drunk in about 10 minutes.

I think most people, however, simply want a decent home to raise their families in and to enjoy.

[SkyPilot]

And who has property taxes over $10,000. per year?

The average property tax in NJ is $9,500. In NY, it is about $8,800.

[super7man]

Reagan said “why can’t government learn to live with less money?”

Exactly! Never any discussion of cutting spending. Never crosses their minds.

[Rashputin]

There is this tidbit :

"The tax bill would zero out the Plug-In Electric Drive Vehicle Credit"

A slap in the face of CA Governor Brown but not a lot of money saved.

[Paladin2]

Since an individual has to pay income tax on interest received, it’s only logical that interest paid should be a straight up deduction from income on its own line.

[Paladin2]

It’s well past time for common sense, comprehensive Spending Control.

[CodeToad]

“Since an individual has to pay income tax on interest received, it’s only logical that interest paid should be a straight up deduction from income on its own line.”

Absolutely. The other guy pays a tax.

[RummyChick]

Not being able to deduct nursing home expense is a real killer. I guess state medicaid and federal govt can fight over scraps

[RummyChick]

My parents worked damn hard to accumulate their wealth...their corporation paid taxes. They paid income taxes. Using your logic..why should their estate pay taxes on wealth already taxed and paid for when they earned it.

[SkyPilot]

Not being able to deduct nursing home expense is a real killer.

Yup. And there are so many other fornication's to the taxpayers in both bills. Adoptive parents. Disaster victims. Those with whopping medical expenses. Divorced dads. Student loan recipients.

As a writer recently stated, in order to give the corporations a massive tax break, Congress went through the sofa looking for loose change tax revenue wherever they could.

[RummyChick]

Some professions have crazy student loan amounts..like Doctors. In their beginning years it is already a struggle

Gop should be ashamed of this bill

[trebb]

You seem to be whining about getting weaned off the government teat - if that actually happens, folks will adjust nicely: as they were adjusted before that teat was force fed to the People.

Oh noze - the government might take something from me and I don't like it.....but if they take it from someone else, that's OK.....Waaaaaaaaaah!

[trebb]

You seem to be so caught up in some areas that you ignore that part of the current plan is to stop the AMT and the estate tax rape that's been going on.

Stopping this imperfect tax deal will just insure that which you just carped about stays in place.

[Mariner]

“The tax system takes money from those who earn it and gives it to those who vote democrat.”

In this case, the system will take money from those who earn it an give it to Republican donors. And, they’ll tak more than the Democrats.

[Mariner]

“We have all become so accustomed to government “largess”

When government takes less of our money, that’s “largess”?

You speak as if it’s the governments money and we’ve luck to keep any of it.

[Mariner]

“Is this what we Conservatives have come to?”

There’s dozens and dozens of them right here on Free Republic.

And there’s nothing, nothing conservative about it.

It’s the shtick of Social Justice Warriors, most of whom pay no income taxes whatsoever.

[Mariner]

“There is no public purpose served by artificially inflating housing prices to enrich realtors and mortgage lenders. We have a policy induced bubble in housing prices. The bubble should be eliminated. “

Spoken like Central Planner.