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News: Cast your Ballot in the 2016 Mock Election

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1  General Politics / U.S. General Discussion / Re: The Gang Tries Fixing the Tax Code on: April 27, 2017, 12:10:36 pm

That's nice.

I currently fall in the 25% bracket. I took $20,000 in deductions last year. They were fairly evenly split between mortgage interest, property tax, and charitable giving. Deleting the property tax deduction puts me roughly at the standard deduction assuming I contribute the same amount to charity. And my tax bracket won't change. So, this is a tax hike for me.

And no, interest isn't huge "just in the very beginning." Interest makes up more than half for the first, well, half of your mortgage's life.
All that to say this removes an incentive to home ownership that I can only see causing less demand and falling house prices.
Stupid. (Not you Smiley )

This is great for people who own their home outright, or have made a majority of payments on their house, but detrimental to relatively new homeowners. As you pointed out, it is also harmful to home values. In other words, it favors boomers at the expense of younger voters. 

Well not exactly. Property taxes are the same whether you're a new or old home-owner. Since mortgage interest is remaining as a deduction, that favors younger home buyers. All home buyers are fairly equally screwed by the property tax deduction removal.
2  General Politics / U.S. General Discussion / Re: The Gang Tries Fixing the Tax Code on: April 27, 2017, 09:28:47 am
Also you've pointed out mortgage interest deduction - what about property tax deduction? The memo says "protect home ownership...deductions". Removing the property tax deduction would be a huge tax hike.

If it is true that trump is doubling the amount of the standard deduction, then in most cases for middle class citizens, it would be worthless/unnecessary for tax payers to itemize their deductions.
The way tax law works, is that you only itemize deductions, if you can prove that it is more (higher) than the standard deduction that you can take.

So if the new standard deduction is double the amount it use to be, and if itemized deductions are reduced to just two "items" (mortgage interest and chartable contributions), then for most Americans, taxes will be filed using the standard deduction.

Only the few (mainly the RICH AND WEATTHY) who buy very large homes or mansions, would actually itemize their deductions. Some middle class citizens might itemize the first 3-5 years or so, since their monthly mortgage payments are mainly interest in the early years of their mortgage (home loan), but I assure you this is not a significant amount of "normal" people.

That's nice.

I currently fall in the 25% bracket. I took $20,000 in deductions last year. They were fairly evenly split between mortgage interest, property tax, and charitable giving. Deleting the property tax deduction puts me roughly at the standard deduction assuming I contribute the same amount to charity. And my tax bracket won't change. So, this is a tax hike for me.

And no, interest isn't huge "just in the very beginning." Interest makes up more than half for the first, well, half of your mortgage's life.
All that to say this removes an incentive to home ownership that I can only see causing less demand and falling house prices.
Stupid. (Not you Smiley )
3  General Politics / U.S. General Discussion / Re: The Gang Tries Fixing the Tax Code on: April 26, 2017, 06:15:02 pm
This is a tax increase for me. Neat!
4  General Politics / U.S. General Discussion / Re: The Gang Tries Fixing the Tax Code on: April 26, 2017, 02:39:55 pm
Also you've pointed out mortgage interest deduction - what about property tax deduction? The memo says "protect home ownership...deductions". Removing the property tax deduction would be a huge tax hike.
5  General Politics / U.S. General Discussion / Re: The Gang Tries Fixing the Tax Code on: April 26, 2017, 01:10:49 pm
Doubling the standard deduction is a real slap in the face to homeowners.
6  General Politics / U.S. General Discussion / Re: Trump Cabinet confirmation hearings **live commentary thread** on: February 01, 2017, 02:46:18 pm
Uh I just saw an advertisement to confirm Jeff Sessions on CNN. Anyone else? That's bizarre.
7  General Politics / U.S. General Discussion / Re: Transition Team/Cabinet Thread on: December 08, 2016, 03:23:39 pm
This story says that Rick Perry is now considered the "leading candidate" for Secretary of Energy:

http://www.wsj.com/articles/donald-trump-goes-his-own-way-in-vetting-top-picks-1481155652


I guess Rick Perry forgot that he wanted to abolish that department (again).

Oops.
8  General Politics / U.S. General Discussion / Re: Transition Team/Cabinet Thread on: November 17, 2016, 03:35:52 pm
Guhhhhhhh wrong mormon
9  General Politics / U.S. General Discussion / Re: Transition Team/Cabinet Thread on: November 15, 2016, 04:18:44 pm
Why isn't Huntsman being bandied about for State?
10  Presidential Elections - Analysis and Discussion / 2020 U.S. Presidential Election / Re: Rank the top 5 most likely people to be 2020 Dem. presidential nominee on: November 11, 2016, 02:50:13 pm
why does everyone keep acting like a Hindu woman is a viable presidential candidate?
11  Presidential Elections - Analysis and Discussion / 2016 U.S. Presidential Election / Re: Why did Wisconsin go for Donald Trump? on: November 09, 2016, 11:45:24 pm
Any explanation into why Wisconsin went for Trump?

8 years ago if you looked at the election map for Wisconsin it looked like a hardcore blue state, what changed their mind?

Gore and Kerry only barely won it, though.

Good point actually. Wisconsin was a super close swing state before Obama. Does a democratic victory require a cult of personality?
12  Presidential Elections - Analysis and Discussion / 2016 U.S. Presidential Election / Re: Do you feel bad for Hillary Clinton? on: November 09, 2016, 11:44:01 pm
Yes. To work in public service your whole life and rise to the occasion and be on the very brink of making history to have it taken away by some guy who just thought it'd be fun to try one morning. Anyone see Election? Poor Tracy Flick.
13  Presidential Elections - Analysis and Discussion / 2020 U.S. Presidential Election / Re: no on: November 08, 2016, 03:25:08 pm
seriously, i blindly click the first link on the forum page. why is it this now.
14  Presidential Elections - Analysis and Discussion / 2016 U.S. Presidential Election / Re: turnout reports, voting problems, and last minute dirty tricks on: November 08, 2016, 03:19:42 pm
Any word out of Missouri in terms of turnout? More interested in Kander obvi.
15  Presidential Elections - Analysis and Discussion / 2016 U.S. Presidential Election / Re: Last minute expand map megathread - Spending & visits in AZ, GA, WI, NM, MI, MN on: November 08, 2016, 08:09:38 am
Are the trump election day events cancelled? All the news reports are saying yesterday was his last rally.
16  Presidential Elections - Analysis and Discussion / 2016 U.S. Presidential Election / Re: 538 Model Megathread on: November 08, 2016, 12:37:35 am
Nate be having wet dreams about Alaska tonight
17  Presidential Elections - Analysis and Discussion / 2016 U.S. Presidential Election / Re: Midnight towns (NH) **results thread** on: November 08, 2016, 12:11:06 am
SHY TRUMP EFFECT THEY KNEW THEY WERE ON TV
18  Presidential Elections - Analysis and Discussion / 2016 U.S. Presidential Election / Re: Midnight towns (NH) **results thread** on: November 08, 2016, 12:08:21 am
Senate tie
Sununu blowout
19  Presidential Elections - Analysis and Discussion / 2016 U.S. Presidential Election / Re: It will be raining in Michigan tomorrow, how will it effect the race? on: November 07, 2016, 09:49:44 pm
People gon get wet
20  Presidential Elections - Analysis and Discussion / 2016 U.S. Presidential Election / Re: 538 Model Megathread on: November 07, 2016, 09:33:17 pm
Welp, on polls only, he led exactly 1 day the entire cycle. Bless.
21  Forum Community / Forum Community / Re: On the eve of the big day: thanks all on: November 07, 2016, 08:22:04 pm
Hear! Hear!
22  Presidential Elections - Analysis and Discussion / 2016 U.S. Presidential Election / Re: 538 Model Megathread on: November 07, 2016, 07:13:41 pm
Ugh now I'm in the awkward position of hoping Clinton loses North Carolina just to keep everyone from going OMG HE DID IT AGAIN! 50/50 STATES!!!!!!!1!

Ohio!
23  Presidential Elections - Analysis and Discussion / 2016 U.S. Presidential Election / Re: Post your final 2016 Presidential Election prediction maps here on: November 07, 2016, 04:04:27 pm


342-196; 49-44-4-2
24  Other Elections - Analysis and Discussion / Election Predictions / Re: 2016 Presidential Predictions (General) on: November 07, 2016, 03:57:53 pm
BREAKING: Mike Naso updated his prediction, is in the vicinity.
25  Election Archive / 2016 U.S. Presidential General Election Polls / Re: Monmouth Final National Poll: Clinton +6 on: November 07, 2016, 11:03:04 am
MUH!
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