Posted on 12/26/2017 6:59:40 AM PST by DIRTYSECRET
Reagan was their best friend so what do they do? They vote Democrat and try to make the rest of us feel guilty(with the MSM's help). The good news is that Trump is not their friend. The $10k mortgage deduction limit will do the most to prove it. Does ANYONE need help to purchase a million dollar house? They can buy a cheaper one and commute like the rest of us.
The $10,000 cap is for property, sales, and state income taxes.
Like Obamacare, the law has to be passed before we can read it and find out what is in it. He is not too happy about this indisclosed change in the law that was not disclosed in the Congressional debate re the new taw law.
Have a good day!
Asinine? I thought it was pretty eloquent. Hurt my feelings.
The ‘Rat Party is overwhelmingly the party of the rich. Tax the hell out of them I don’t care.
Depends on the financial circumstances. Why invest so much of your own money that can work for you elsewhere? And the mortgage interest deduction helps defray income taxes.
The taxpayers get to subsidize their interest on the loan and the rich get to shelter some income.
It is our money, not the government's. I have no problem with taxpayers keeping more of their own money, even the "rich." Almost half of the population pays no income taxes and 80% of wage earners pay more in payroll taxes than they do in income taxes.
I’ve always supported the classical “liberal” system. Tax consumption, not production. It blows right past all the class warfare bullsh+t. Of course I’d rather have the conservative view of “no taxes without representation”. Drain the swamp.
You are wrong. The new rules on alimony payments apply only to divorces and separations that happen in 2019 and thereafter. Under the new law alimony will be tax deductible for the recipient, not the person providing the alimony. Why don't you check out the following:
Everything you need to know about the GOP’s final tax plan in 3 charts
Like Obamacare, the law has to be passed before we can read it and find out what is in it. He is not too happy about this indisclosed change in the law that was not disclosed in the Congressional debate re the new taw law. Have a good day!
I suggest you that you read the law and understand what its impact is on you, your son, etc. The reduction in marginal tax rates in the various brackets, the doubling of the standard deduction, etc. FYI: Alimony is not under itemized deductions. Where did you come up with the $10k limit on alimony payments? It is not in the tax reform bill.
Have a good day!
I think deducting interest on home equity loans is dead.
The poor don’t pay income taxes and they receive most of the benefits. With the benefits, they ain’t poor.
Yes. Refinancing will increase to take out equity for various purposes.
if you believe ‘the rich’ should be taxed more than anyone else, percentage-wise, then you’re already living on the progressive plantation.
10-20% flat tax with a cap around $100k-250k per tax payer should be enough tax money for any govt (the entire british empire, worldwide, employed such a system... and many of its former colonies still do)
Elimination of the alimony deduction only applies to divorce decrees issued after 2018, so unless he has another wife he wants to divorce, he will likely see his taxes to down. It’s shocking how people get so bent out of shape before doing the slightest research into the facts.
Source:https://www.pbs.org/newshour/politics/how-the-tax-overhaul-will-affect-alimony-deductions
Class envy.....This isn't the same FR as the one I joined in 1999.....
Amen to that.
“Tax consumption, not production.”
Yeah but that disincentivizes consumption, and that would reduce production as well.
I can’t see a good way around the effect either way though. Government is a parasite on productive society and no matter which way you try to feed the parasite, you are still going to bleed. Really the main issue is to control the parasite’s appetite (limit spending).
TAX THE RICH? I say to hell with them
Who are “the poor” exactly? I’m fairly “poor” and I get taxed to hell, like millions of others.
Apparently the poor is not you. You can easily look up the poverty level.
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