[SkyPilot]

. I don't see how people can say they are going to pay more

If you itemize, own a home, and live in a high tax state, you are going to be paying more in this bill because they already told us they are eliminating or limiting certain deductions.

The changes they want to pass into law will also have a devastating effect on the housing industry and real estate prices in many states (CA, NJ, NY, CT, etc.) That is why many mortgage and home building groups are opposing the bill.

Since a home is many families biggest asset, and a healthy real estate market insures economic growth, the bill will be poison pill to many.

[GIdget2004]

Home builders are not happy.

https://twitter.com/JoshuaGreen/status/926096227044937729

[Jonny7797]

“If you itemize, own a home, and live in a high tax state, you are going to be paying more in this bill because they already told us they are eliminating or limiting certain deductions.”

Frankly, it’s impossible to say that answer without seeing the brackets.

[Mozzafiato]

If you itemize, own a home, and live in a high tax state, you are going to be paying more in this bill because they already told us they are eliminating or limiting certain deductions.

I don't disagree about the potential negative effects in those states, but perhaps those folks should stop voting for high tax politicians. There seems to be an inverse benefit to high state taxpayers currently, by allowing them to offset those taxes in their federal filing...which is, in effect, a subsidy at the expense of low tax state taxpayers.

[MMaschin]

If you itemize, own a home, and live in a high tax state, you are going to be paying more in this bill because they already told us they are eliminating or limiting certain deductions.

The changes they want to pass into law will also have a devastating effect on the housing industry and real estate prices in many states (CA, NJ, NY, CT, etc.) That is why many mortgage and home building groups are opposing the bill.

Since a home is many families biggest asset, and a healthy real estate market insures economic growth, the bill will be poison pill to many.

Thanks.

I'm 48yrs old, and own my own home (made the final payment earlier this year). It's 3k sqft, 4/3.5, built in 2002, in Austin tx, and I purchased it 14 years ago for 250k. I think it's a travesty that home values are being artificially driven up in blue states. The tax and spend policies in those states create local inflation, which strangles the middle class.

I read an article in a British newspaper where the author was trying to determine why, when everything they heard was about how rich the northern States were, and how poor the southern States were, why were people moving from the north to the south? He went about looking at people in the same careers, and looked at their standards of living, and found out that while people in the north made a lot more money, people in the south had a much higher standard of living.

Yes, people can move, but when big problems occur, such as the housing bubble bursting, it effects everyone, not just the blue states that created it - and yes, there is another housing bubble building.

All the things that you mention are true, but in my perspective, I don't see that as being an overall bad thing. Right now the left has control of the blue States because there is more political clout with those wanting free handouts, maybe if that clout can be changed over to people demanding lower taxes at the state level, things will get better in those states.

Eventually there will be economic parity between the states, will it be what the blue states want, labor unions (higher wages), high taxes, high inflation, high cost of living, or what the red states want, right to work (lower wages), lower taxes, lower inflation, and low cost of living? My preference is for the later, and I believe this bill, in part, is attempt to move things in that direction.

[ConservativeMind]

“and a healthy real estate market insures economic growth...”

You have that @$$-backwards.