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serious Q: why are people getting hysterical over mortgage deduction?
Poast new message in this thread
Date: November 20th, 2017 12:51 PM Author: dead lay isnt it at most a few thousand a year? and its not like they are "losing" ten grand, they just now have to pay (progressive) tax on it. Now MSM and even trumpmos are acting like hes going to lose 2020 because of this. Am I missing something here? (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731357) |
Date: November 20th, 2017 12:53 PM Author: charcoal diverse milk corn cake more than a few "thou$and" (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731372) |
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Date: November 20th, 2017 12:58 PM Author: house-broken chad gaping Also, combined with other SALT deductions it ends up taking a huge chunk out of your salary. (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731413) |
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Date: November 20th, 2017 1:02 PM Author: Razzle-dazzle Lodge Fat Ankles If you had big income, though, you would get AMTpwned. That's why the hysteria is bizarre: there can't be that many people on the razor's edge of getting huge benefit without bumping into AMT. (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731462) |
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Date: November 20th, 2017 1:03 PM Author: house-broken chad gaping Well, a bunch of us are in that donut hole where we make enough to get killed by this but not by AMT. (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731479) |
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Date: November 20th, 2017 4:02 PM Author: henna pungent mad cow disease mortgage interest is deductible for AMT purposes, too, MFE. (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34733389) |
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Date: November 20th, 2017 12:55 PM Author: garnet macaca It also wacks the resale value of your home. (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731392) |
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Date: November 20th, 2017 12:57 PM Author: house-broken chad gaping (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731409) |
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Date: November 20th, 2017 1:01 PM Author: house-broken chad gaping I'm pretty much at the point where if Democrats winning reverses this tax bullshit then I'm about ready to switch teams.
Taxes are the thing I most directly feel from the government. If the Republicans are working actively to rape me in particular, then fuck them. I see shrieking shitlib bullshit every day anyway. |
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Date: November 20th, 2017 1:03 PM Author: Thirsty toilet seat No one is forcing you to live in a libpedo state. NY residents deserve everything they get (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731476) |
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Date: November 20th, 2017 1:06 PM Author: house-broken chad gaping Uh, my employer forces me to live in a libpedo state. (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731509) |
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Date: November 20th, 2017 1:06 PM Author: cobalt adventurous stag film boiling water Dat at will employment (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731516) |
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Date: November 20th, 2017 1:07 PM Author: house-broken chad gaping No good jobs in shit cities. And if I get laid off tomorrow I can find a new job around where I live. If I get laid off in a secondary city (assuming my employer somehow let me live there) I'm SOL. (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731525) |
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Date: November 20th, 2017 1:08 PM Author: Thirsty toilet seat Then pay your fair share for that luxury faggot (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731537) |
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Date: November 20th, 2017 1:09 PM Author: cobalt adventurous stag film boiling water (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731549) |
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Date: November 20th, 2017 1:09 PM Author: house-broken chad gaping The luxury of having a job? (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731551) |
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Date: November 20th, 2017 4:01 PM Author: shimmering ticket booth (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34733379) |
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Date: November 20th, 2017 1:12 PM Author: Tan Histrionic Friendly Grandma (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731592) |
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Date: November 20th, 2017 2:16 PM Author: spectacular bat shit crazy community account this. (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34732368) |
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Date: November 20th, 2017 3:40 PM Author: dull dashing multi-billionaire address (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34733200) |
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Date: November 20th, 2017 3:48 PM Author: Pink base half-breed Cr ljl at this kike weasel (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34733266) |
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Date: November 20th, 2017 4:05 PM Author: Opaque Dilemma Place Of Business (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34733406) |
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Date: November 20th, 2017 4:43 PM Author: Confused bearded tanning salon (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34733721) |
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Date: November 20th, 2017 6:47 PM Author: Slate Codepig (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34734731) |
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Date: November 20th, 2017 6:50 PM Author: cruel-hearted insanely creepy space voyeur (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34734749) |
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Date: November 21st, 2017 11:59 AM Author: Pearl Resort (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34739533) |
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Date: November 20th, 2017 1:08 PM Author: cobalt adventurous stag film boiling water Plenty of good jobs in “shit cities”. (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731545) |
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Date: November 20th, 2017 1:09 PM Author: house-broken chad gaping Not in my specialty there aren't. Also, wife needs job too, in same specialty. (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731552) |
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Date: November 20th, 2017 1:11 PM Author: cobalt adventurous stag film boiling water You both wouldnt need to work in low COL city. (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731575) |
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Date: November 20th, 2017 1:13 PM Author: house-broken chad gaping Wife would go insane if she stayed at home and did nothing in some shit city. (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731595) |
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Date: November 20th, 2017 1:15 PM Author: cobalt adventurous stag film boiling water The more you say, the more I believe these personal life choices that you and the wife have made that the federal govt shouldnt be sudsidizing. (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731627) |
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Date: November 20th, 2017 1:16 PM Author: Tan Histrionic Friendly Grandma People have rights. And that includes the opera. (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731640) |
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Date: November 20th, 2017 1:16 PM Author: house-broken chad gaping I seriously dgaf about the opera. That is a total red herring. (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731644) |
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Date: November 20th, 2017 1:16 PM Author: house-broken chad gaping Why exactly should the federal government be encouraging my wife not to work? (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731641) |
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Date: November 20th, 2017 1:16 PM Author: Tan Histrionic Friendly Grandma srs Q? (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731645) |
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Date: November 20th, 2017 1:17 PM Author: house-broken chad gaping Yep. (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731659) |
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Date: November 20th, 2017 1:18 PM Author: Tan Histrionic Friendly Grandma no offense but are you jewish? (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731667) |
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Date: November 20th, 2017 1:18 PM Author: house-broken chad gaping Part (not Jewish by religion at all). (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731675) |
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Date: November 20th, 2017 1:17 PM Author: cobalt adventurous stag film boiling water Thry arent, but youre going to get taxed for the lifestyle you've chosen. (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731655) |
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Date: November 20th, 2017 1:17 PM Author: house-broken chad gaping So why is this lifestyle in particular deserving of higher taxes? (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731661) |
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Date: November 20th, 2017 1:19 PM Author: cobalt adventurous stag film boiling water Youre both working presumably high income jobs in a high COL city with no kids. This isnt something that should be subsidized.
If youre carrying a mortgage of over $500k, then you should have saved more for a downpayment. Take fewer vacations. |
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Date: November 20th, 2017 1:21 PM Author: house-broken chad gaping So we're probably having kids in the next few years. This won't help our situation at all (it'll actually hurt).
We're already getting tax raped. Not clear on why we're the one group getting fucked now.
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Date: November 20th, 2017 1:31 PM Author: cobalt adventurous stag film boiling water Why?
1) small group who is not sympathetic to the vast majority of voters 2) low political power as red voters in blue states |
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Date: November 20th, 2017 1:40 PM Author: Thirsty toilet seat Lol at you castigating TMF for this now, yet demanding handouts for student loans in other threads. Pay your loans deadbeat (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731923) |
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Date: November 20th, 2017 2:01 PM Author: house-broken chad gaping So then you won't be surprised when this group votes for anyone who chooses to represent them, making the situations of Republicans even shittier in the country. (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34732191) |
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Date: November 20th, 2017 3:49 PM Author: cobalt adventurous stag film boiling water Oh noes, we’ll never win New York and CA now! (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34733277) |
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Date: November 20th, 2017 4:26 PM Author: house-broken chad gaping Protip: Ohio, Wisconsin, PA, Michigan, etc. - all have more significant state and local taxes than you seem to think. (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34733550) |
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Date: November 20th, 2017 4:05 PM Author: fear-inspiring police squad lol, you're such a pathetic, unprincipled, cockroach of a russian. you will flip parties at the drop of a hat despite fundamental opposition to most of the democratic agenda because you are mad about having to pay a bit more under your own party's tax plan. every time you have an opportunity to demonstrate that you're not spineless trash you end up confirming the label. (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34733401) |
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Date: November 20th, 2017 4:08 PM Author: Opaque Dilemma Place Of Business He's shameless. Literally all he cares about is himself. It's crazy how he gets into these long arguments about hte principles of policies when literally all he cares about is whether it helps or hurts him. (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34733427) |
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Date: November 20th, 2017 4:14 PM Author: fear-inspiring police squad CR
http://autoadmit.com/thread.php?thread_id=3803533&mc=51&forum_id=2#34732263
overall, a really despicable person and I think if anything he tamps down the insane degree of self-interest because he's somewhat cognizant of trying to come across well on XO |
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Date: November 20th, 2017 7:43 PM Author: Opaque Dilemma Place Of Business Sad! (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34735086) |
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Date: November 20th, 2017 1:02 PM Author: Mauve Cuck mine is close to ten grand (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731460) |
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Date: November 20th, 2017 1:06 PM Author: Razzle-dazzle Lodge Fat Ankles Wtf, interest rates are low as fuck. How big is your mortgage? (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731511) |
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Date: November 20th, 2017 1:12 PM Author: Tan Histrionic Friendly Grandma IT'TH A GOOD INVETHMENT!! (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731585) |
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Date: November 20th, 2017 1:12 PM Author: charcoal diverse milk corn cake do u even amortize bro (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731589) |
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Date: November 20th, 2017 1:15 PM Author: Razzle-dazzle Lodge Fat Ankles I don't have any debt. (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731628) |
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Date: November 20th, 2017 4:46 PM Author: Confused bearded tanning salon I think mine is $8-10k range or something (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34733751) |
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Date: November 20th, 2017 1:04 PM Author: ultramarine vigorous kitty do you think the things you get hysterical about are any better, snob? (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731489) |
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Date: November 20th, 2017 1:08 PM Author: amber violent theater cr. freaking out about any of this shit is declasse as fuck (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731533) |
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Date: November 20th, 2017 1:10 PM Author: house-broken chad gaping What is this XO trend today of pretending we're not UMC striver fuckers (ergo, prole)? (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731569) |
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Date: November 20th, 2017 1:13 PM Author: cobalt adventurous stag film boiling water Not saying we arent, but most of us have enough self awareness to recognize that our UMC lifestyle shouldnt be sudisized by the federal govt. (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731609) |
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Date: November 20th, 2017 1:14 PM Author: house-broken chad gaping Everyone's shit is subsidized at one point or another. Fuck smiling as we get fucked over yet again. (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731622) |
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Date: November 20th, 2017 1:16 PM Author: cobalt adventurous stag film boiling water Sorry bro, but most trumpmo voters arent going to feel bad for a DINK couple paying more taxes to live in MFH. (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731643) |
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Date: November 20th, 2017 1:17 PM Author: house-broken chad gaping We paid way more taxes before. This is yet another tax increase while every other group (including the super rich) get a tax cut. That's outrageous. (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731656) |
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Date: November 20th, 2017 1:17 PM Author: amber violent theater xoers have known huge mortgages are flame for years. some xoers still copped them because of low mortgage rates or unrepentant striving. i got a manageable house and am paying down my mortgage ASAP. i'll take whatever deductions are out there, but i'm not basing my financial decisions on flighty govt policies. only cr is for me to earn as much as possible and try to protect self from the whims of others. of course, if we get hyperinflation-pwned i'll be pissed. (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731663) |
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Date: November 20th, 2017 1:20 PM Author: house-broken chad gaping If you're living around a major metro area and are realistically going to be there for a long time, then you're going to have a big mortgage. (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731687) |
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Date: November 20th, 2017 1:12 PM Author: Tan Histrionic Friendly Grandma It's 180, going to talk this seller down til he's underwater (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731590) |
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Date: November 20th, 2017 1:13 PM Author: Bonkers dog poop I'm pissed because I just reached UMC status, without an inheritance or parents who were UMCs themselves (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731605) |
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Date: November 20th, 2017 1:15 PM Author: Tan Histrionic Friendly Grandma UMC is not a status, it's the upper bound of middle class (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731631) |
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Date: November 20th, 2017 1:20 PM Author: Bonkers dog poop whatever we call it, I just reached this upper bound only to be fucked by the govt. I was too late to the party (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731688) |
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Date: November 20th, 2017 1:18 PM Author: house-broken chad gaping (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731668) |
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Date: November 20th, 2017 4:00 PM Author: Saffron Giraffe If you don't have inherited wealth, you don't matter to the GC GOP (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34733363) |
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Date: November 20th, 2017 1:18 PM Author: irate stead This and loss f property tax deduction hit me for like $40k but the flat 35% up to $1mm and corp tax deduction more than makes up for it (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34731670) |
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Date: November 20th, 2017 1:35 PM Author: Mischievous Gay Old Irish Cottage Keepsake Machete the GOP tax plan proposes cutting the cap on mortgage interest deductions on newly purchased homes. Currently, a married couple can deduct interest on mortgages of up to $1,000,000; the GOP plan would cut that to $500,000. Similarly, deductions of state and local property tax would be capped at $10,000.
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Why do they say newly purchased homes? Is that because the interest is front loaded or is there some specific provision for homes based on a given date, etc? If the amount of my mortgage is now below 500 does it count? Does this impact a second home? |
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Date: November 20th, 2017 4:04 PM Author: henna pungent mad cow disease you're grandfathered in if you already have a mortgage. (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34733396) |
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Date: November 20th, 2017 3:54 PM Author: fear-inspiring police squad azn+joosh obsess over getting 'rich' one cash grab at a time. they think they will not attain their financial dreams if they have to pay a little here and a little there. note this only applies to the wagecucks like Nutella who feel like they're getting bled every time an unpredictable $3500 expenditure makes them reset their 5-year liquidity target spreadsheet. (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34733311) |
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Date: November 20th, 2017 4:10 PM Author: appetizing brass becky shrine LJL @ TMF whining that he doesn't get handouts to subsidize his high COL coastal lifestyle.
if you ever wanted proof this is a good tax plan, this thread is all you need |
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Date: November 20th, 2017 4:13 PM Author: Drunken Idea He Suggested Son Of Senegal (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34733469) |
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Date: November 20th, 2017 4:14 PM Author: fear-inspiring police squad (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34733479) |
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Date: November 20th, 2017 4:18 PM Author: Opaque Dilemma Place Of Business 180 (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34733498) |
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Date: November 20th, 2017 4:28 PM Author: dull dashing multi-billionaire address (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34733571) |
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Date: November 20th, 2017 4:30 PM Author: house-broken chad gaping All I'm asking is that you fuckers also create incentives for corporations not to locate here so that people like me can actually leave and head to awesome places like Miami. (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34733598) |
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Date: November 20th, 2017 4:54 PM Author: sable famous landscape painting stock car (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34733855) |
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Date: November 20th, 2017 6:50 PM Author: Slate Codepig (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34734750) |
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Date: November 20th, 2017 7:36 PM Author: Pink base half-breed (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34735041) |
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Date: November 20th, 2017 4:12 PM Author: Drunken Idea He Suggested Son Of Senegal the mortgage interest deduction is terrible policy. im a lib and fully stand behind this.
i love how people conflate "bad for me" with "bad policy" |
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Date: November 20th, 2017 4:28 PM Author: house-broken chad gaping Honestly, I'm pretty up front on the notion that it is bad policy to encourage states and local govs to have high taxes but I'm pissed that it is bad for me. I'm just sick of constantly having every government, whether liberal or conservative, decide that the solution to whatever problem exists is to tax me more. (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34733576) |
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Date: November 20th, 2017 4:30 PM Author: Opaque Dilemma Place Of Business Actually W's plan cut your taxes. Sorry that was too soon (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34733592) |
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Date: November 20th, 2017 4:31 PM Author: house-broken chad gaping Fair, as did Reagan's. (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34733603) |
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Date: November 20th, 2017 4:30 PM Author: fear-inspiring police squad you sound borderline 'Ken M' (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34733593) |
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Date: November 20th, 2017 4:32 PM Author: house-broken chad gaping ? (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34733615) |
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Date: November 21st, 2017 4:43 PM Author: Amethyst hall digit ratio Getting rid of the mortgage interest deduction would only encourage more people to become rootless cosmopolitans who never set down roots. You think that is a good thing? (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34742010) |
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Date: November 21st, 2017 5:06 PM Author: Drunken Idea He Suggested Son Of Senegal remember that time dumb federal homeownership policy almost triggered another great depression? anyway i don't even know this is true or that I should give a shit if it is.
reminder why the mortgage interest deduction is indefensibly retarded: its both regressive and anti-growth, a rare double whammy. rich boomers with too many bedrooms and houses benefit way more than poorer people. and we'd be so much better off growth wise by spending that foregone tax revenue than some guy's unnecessary guesthouse or something. its upper middle class welfare politicians are too pussy to address. |
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Date: November 20th, 2017 5:41 PM Author: Mint Faggot Firefighter The increase in standard deduct is probably worse, especially combined with cut of other deducts, because it makes the mtg interest deduction less valuable, thus increasing the relative cost of homeownership and driving down prices. I'm worried about seeing a 10% or more drop in the value of the house I just bought. even if people get an overall tax cut, this plan will drive down property prices due to the higher cost of homeownership relative to renting. Home equity is the biggest asset of most middle class families, who won't get a corresponding stock portfolio increase the way wealthier people who have more net worth in equities will. (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34734196) |
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Date: November 21st, 2017 11:58 AM Author: fear-inspiring police squad LMFAO at TMF in this thread. what a gutless wonder this little guy is.
"Trump is the revolution that America desperately needs right now, we'll go down the tubes without his radical brand of leadership and course correction for this country." . . . . . one year later: "Trump is on board with a plan that will cut a tax subsidy I have been enjoying for a few years to help finance my retarded striver lifestyle because my pissant salary doesn't quite cut it, so I'm probably going to vote for whoever the Democrats run." |
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Date: November 21st, 2017 4:45 PM Author: Amethyst hall digit ratio Don't forget existing homeowners won't be affected. They will be grandfathered in. Still, eliminating deduction for state and local taxes will fuck UMC people in high COL areas. (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34742029) |
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Date: November 21st, 2017 5:07 PM Author: Motley trump supporter pussies!!!! (http://www.autoadmit.com/thread.php?thread_id=3803576&forum_id=2#34742247) |