2024 POTUS Thread...

[Plan9Misfit]

Because of one deduction? You must fall in a very small crack.

When my tax refund is over $20k lower because of his tax plan, yes. I refuse to support anyone who steals my money.

 

[Plan9Misfit]

And yet owns a home in California?

Real estate is a smart investment. That house grew over $550k in value in 2 years. Just because the state itself is trash doesn't mean that someone shouldn't monetize the financial opportunities within it. My wife and I are using real estate to help build our retirement nest egg. Hating taxes doesn't change my desire to grow wealth in healthy markets.

 

[bbgun]

And yet owns a home in California?

If he hates taxes, he's definitely in the wrong state.

 

[Cowboysrock55]

Real estate is a smart investment. That house grew over $550k in value in 2 years. Just because the state itself is trash doesn't mean that someone shouldn't monetize the financial opportunities within it.

I agree with you on taxes but I think deductions like yours are kind of bullshit as well. I hate the ridiculously elaborate system we have. If you're going to tax people, stop making 50 billion deductions and loopholes that fuck the system up. Just set a rate, and let everyone go off that.
Your home in California must be worth a fortune. Congrats. That or you pay a fortune on property taxes there. Your argument should lay with California.

 

[Plan9Misfit]

If he hates taxes, he's definitely in the wrong state.

My official state of residence is Texas, but I work in both Texas and California, so it made good financial sense to buy property there, as property taxes in California are actually very low (by percentage). Given how hot the real estate market is, my wife and I looked at it from a financial perspective because there's a lot of money to be made. We're looking to buy property in other states as well, but few of them have a market like California where property values grow very rapidly due to incredibly low inventory and very high demand.

 

[Plan9Misfit]

I agree with you on taxes but I think deductions like yours are kind of bullshit as well. I hate the ridiculously elaborate system we have. If you're going to tax people, stop making 50 billion deductions and loopholes that fuck the system up. Just set a rate, and let everyone go off that.
Your home in California must be worth a fortune. Congrats. That or you pay a fortune on property taxes there. Your argument should lay with California.

My home in California is worth roughly $2.3M. The amount in taxes is obviously a lot because of the purchase price, but the tax rate is much lower than my house in Texas. And, regardless of whether you disagree with the deductions, capping them puts people in a position where they end up double taxed. That's why they've never been capped before, and why it's absurd to cap them now. It penalizes people, and I'll never support that.

 

[boozeman]

 

[Genghis Khan]

~adjusts tin foil hat~

The SOB might be onto something.

RFK is saying the same thing. I'm happy to hear Trump take it up also.

 

[Chocolate Lab]

RFK is saying the same thing. I'm happy to hear Trump take it up also.

Yep. As easy as it is to bash the kids themselves, something is making them so fat and unhealthy.

Sure, a lot of it is the de-emphasis on exercise and proper eating, but I think it has to be more than just that.

 

[Cowboysrock55]

My home in California is worth roughly $2.3M. The amount in taxes is obviously a lot because of the purchase price, but the tax rate is much lower than my house in Texas. And, regardless of whether you disagree with the deductions, capping them puts people in a position where they end up double taxed. That's why they've never been capped before, and why it's absurd to cap them now. It penalizes people, and I'll never support that.

Taxing someone for something they already own and paid for is bullshit. Property taxes in my opinion are bullshit.

Do I think states should essentially be able to overtax people so that they can write it off on their Federal tax return, also bullshit.

It is ironic that everyone claims that Trump gave tax breaks to only the rich and here you are with a 2.3 mil property and what I'd have to assume is a $100,000 property tax bill annually and you're the one feeling the pinch because they limited on tax deduction.

 

[Plan9Misfit]

Taxing someone for something they already own and paid for is bullshit. Property taxes in my opinion are bullshit.

Do I think states should essentially be able to overtax people so that they can write it off on their Federal tax return, also bullshit.

It is ironic that everyone claims that Trump gave tax breaks to only the rich and here you are with a 2.3 mil property and what I'd have to assume is a $100,000 property tax bill annually and you're the one feeling the pinch because they limited on tax deduction.

You hit the nail on the head, my friend. This is the real rub and why his tax plan was a complete ruse for anyone in the upper middle class. We got squeezed in a huge way. The other insulting thing is that luxury items had their deductions increased. Things like yachts are now fully deductible, where a house is capped. That's why people made the claims that the rich got breaks, which they did. That said, the middle and lower classes were basically unchanged. They improved a bit, but the progressive tax increases year-over-year made it all but a zero-sum game for them. It was the upper middle class and coastal states that basically got fucked.

 

[Chocolate Lab]

It is ironic that everyone claims that Trump gave tax breaks to only the rich and here you are with a 2.3 mil property and what I'd have to assume is a $100,000 property tax bill annually and you're the one feeling the pinch because they limited on tax deduction.

And by everyone you mean Biden and the Dem apparatus...

 

[bbgun]

Surprised Trump has been disciplined enough to shut up while the Dems self-destruct. I just jinxed him.

 

[Cotton]

 

[Cotton]

 

[Cotton]

 

[Cowboysrock55]

That's why they've never been capped before, and why it's absurd to cap them now. It penalizes people, and I'll never support that.

Between my home and business building I pay like $12,000.00 in real estate taxes every year and it absolutely pisses me off. Just because I use my money to purchase things instead of leaving it in some investment account I have to pay the government annually? For something I bought with money that was already taxed by the government. The whole thing pisses me off. I couldn't imagine what it's like to have the property taxes that you do.

Of course there has to be some more tricks to it that I'm sure the wealthy have. I hate taxes, I understand that to a small extent they are necessary. But all the fair share bullshit the Democrats preach is horseshit. IF they really believed that they would want a simplified tax code. Instead they really just want to make it more convoluted so that no one really has any idea what the hell is going on and they can claim that the 1% are paying for everything. And then they can turn around and weaponize the IRS to go after anyone they don't like.

Every time Biden mentions the rich paying their fair share I laugh my ass off because his son was literally busted for tax evasion. What a bunch of hypocritical bullshit.

 

[Smitty]

My official state of residence is Texas, but I work in both Texas and California, so it made good financial sense to buy property there, as property taxes in California are actually very low (by percentage). Given how hot the real estate market is, my wife and I looked at it from a financial perspective because there's a lot of money to be made. We're looking to buy property in other states as well, but few of them have a market like California where property values grow very rapidly due to incredibly low inventory and very high demand.

Buying property hoping that it will dramatically increase in value is essentially one of the main factors of the 2008 housing market crash, just FYI.

 

[Smitty]

Between my home and business building I pay like $12,000.00 in real estate taxes every year and it absolutely pisses me off. Just because I use my money to purchase things instead of leaving it in some investment account I have to pay the government annually? For something I bought with money that was already taxed by the government. The whole thing pisses me off. I couldn't imagine what it's like to have the property taxes that you do.

Of course there has to be some more tricks to it that I'm sure the wealthy have. I hate taxes, I understand that to a small extent they are necessary. But all the fair share bullshit the Democrats preach is horseshit. IF they really believed that they would want a simplified tax code. Instead they really just want to make it more convoluted so that no one really has any idea what the hell is going on and they can claim that the 1% are paying for everything. And then they can turn around and weaponize the IRS to go after anyone they don't like.

Every time Biden mentions the rich paying their fair share I laugh my ass off because his son was literally busted for tax evasion. What a bunch of hypocritical bullshit.

And also because the rich pay way more than "their share," as it is.

 

[Cujo]

Surprised Trump has been disciplined enough to shut up while the Dems self-destruct. I just jinxed him.

Clearly, he's learned a lot. That was his biggest problem.