Propaganda Works: Majority of Americans Now Believe the GOP Bill Will Raise Their Taxes.

Townhall.com ^ | December 13, 2017 | Guy Benson

[Red Steel]

They did do changes in Joint Committee today beyond the state property tax write off.

CNutN: "The State and Local Tax deduction will be expanded, beyond just property taxes, to include income tax. It would be capped at $10,000."

NY Slimes: "Allow individuals to choose whether to deduct up to $10,000 in income, sales or property taxes."

[CatOwner]

For instance, we bought our Home in 1991 for about $240,000. Our Property Taxes were $2,500 a year. Now, 16 Years later our Home is worth about $750,000 and our Property Taxes are $3,600.

16 years?

When I call CA a high property tax, I'm looking at absolute dollars paid based on very high house prices.

[Kickass Conservative]

If we sold our House the new Owner would be paying 1.25% of the Sale Price, minus the big $7,000 Owner Occupied Exemption.

Under Prop 13 and some follow up Legislation, a Homeowner aged 55 and over can transfer the Assessed Value to another Property they bought for the same price or less than they sold their old House for.

The Sacramento Mexican Mafia Politicians hate Prop 13 with a passion.

[Red Steel]

$19,200 annual mortgage interest...

$19,200 mortgage interest alone based on a $140K salary? You're screwed bro. I'd love to see the house you bought for that rate and money.

"Among the other tax breaks, negotiators agreed to eliminate the alternative minimum tax for corporations, a big sticking point for the business community, the aides said. They also agreed to let homeowners deduct interest on the first $750,000 of a new mortgage, down from the current limit of $1 million.

The provision would not affect current mortgages."

http://time.com/5062837/house-senate-gop-tax-bill-agreement/

[Grampa Dave]

Lotsa peeps live in Calif. w/o paying taxes.

In the past year we are seeing a lot of semi permanent people living in our Californicator year with cars licensed in: Nevada, Washington and Alaska.

They own homes in California and another home in Nevada, Washington or Alaska. They vote there and have drivers’s licenses from those states.

Those out of state homes must be empty a lot during the year.

We are seeing a few semi permanent Texas vehicles here during the tornado season and hot summers.

---

Seven U.S. states currently don’t have an income tax: Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming. And residents of New Hampshire and Tennessee are also spared from handing over an extra chunk of their paycheck on April 15, though they do pay tax on dividends and income from investments.Jan 13, 2015.

[Grampa Dave]

“It’s a great relief to no longer have the governments putting me in their tax slave chains for ~ 40% of my working hours.”

I did consulting after retiring at age 56 for 6 years.

Living in Californicator Land with its income tax, paying both sides of SS and Medicaid. Our CPA suggested that I put every other paycheck into an escrow act. for my quarterly payments. My wife paid big time each paycheck claiming zero deductions. We still ended up owing about 1k for Federal taxes and 500$ for Cali taxes over our quarterly payments, and my wife’s payroll deductions.

Our CPA told me to pull the plug at 62 and go on SS and work on my IRA and my wife’s IRA and 401k.

Best move I ever made and the best financial advice ever.

[Monorprise]

Mine will go down a lot, but i actually used the tax calculator, i don’t take anything the media says as true cause it normally aint when its about republicans.