Who Gives & Who Takes: The Government Tit

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Re: Who Gives & Who Takes: The Government Tit

Post by 89Hen »

GannonFan wrote: Wed Dec 09, 2020 11:30 am They could save money on getting rid of the ADT contract for security. I'm sure that goes for a mint in that area if the house lists that high.
Not with the Purge coming.
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Re: Who Gives & Who Takes: The Government Tit

Post by andy7171 »

GannonFan wrote: Wed Dec 09, 2020 11:30 am
89Hen wrote: Wed Dec 09, 2020 11:24 am

The problem with our federal tax law is it's one size fits all. The interest deduction was capped at $1M of mortgage amount. For most of the country, that seems like it only affects the super wealthy.

This house is listed for $1,699,000 in the suburbs...

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They could save money on getting rid of the ADT contract for security. I'm sure that goes for a mint in that area if the house lists that high.
You'd think so, if it wasn't right on MD 410 in Hyattsville.
Real Estate in the DMV is beyond ridiculous. My 300K townhouse in Baltimore would easily go for 1M in DC metro.
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Re: Who Gives & Who Takes: The Government Tit

Post by Ibanez »

89Hen wrote: Wed Dec 09, 2020 11:24 am
GannonFan wrote: Wed Dec 09, 2020 10:43 am The best thing of Trump's tax cuts (and not all was good, there were some negatives for sure) was capping the mortgage deduction. Sure, people had grown to really rely on that, but it was greatly distorting things and we were subsidizing a far number of McMansions. Best to uncouple those long term, even if there was pain short term for that.
The problem with our federal tax law is it's one size fits all. The interest deduction was capped at $1M of mortgage amount. For most of the country, that seems like it only affects the super wealthy.

This house is listed for $1,699,000 in the suburbs...

Image
That is ridiculous. 3 br 2.5 ba, i'm guessing? ~ 2100 sq ft?


That house would be between $250-$325k here, depending on the neighborhood. :ohno:
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Re: Who Gives & Who Takes: The Government Tit

Post by 89Hen »

Ibanez wrote: Wed Dec 09, 2020 12:13 pm That is ridiculous. 3 br 2.5 ba, i'm guessing? ~ 2100 sq ft?


That house would be between $250-$325k here, depending on the neighborhood. :ohno:
It is bigger than that, and don't forget around here we have basements.

89Henette has been looking in your town lately. It's on her list of potential places to move.
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Re: Who Gives & Who Takes: The Government Tit

Post by GannonFan »

89Hen wrote: Wed Dec 09, 2020 12:21 pm
Ibanez wrote: Wed Dec 09, 2020 12:13 pm That is ridiculous. 3 br 2.5 ba, i'm guessing? ~ 2100 sq ft?


That house would be between $250-$325k here, depending on the neighborhood. :ohno:
It is bigger than that, and don't forget around here we have basements.

89Henette has been looking in your town lately. It's on her list of potential places to move.
I bought my house when we weren't including the basement in the square footage. Now my house is almost twice as big and I didn't really have to do anything.
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Re: Who Gives & Who Takes: The Government Tit

Post by GannonFan »

89Hen wrote: Wed Dec 09, 2020 11:57 am
GannonFan wrote: Wed Dec 09, 2020 11:30 am They could save money on getting rid of the ADT contract for security. I'm sure that goes for a mint in that area if the house lists that high.
Not with the Purge coming.
At the speed that ADT answers the call and the now delayed reaction time from the defunded cops, the biggest value is maybe just having the sign out front in the hopes that the folks trying to break into your home decide your next door neighbor without a security sign would be easier pickings.
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Re: Who Gives & Who Takes: The Government Tit

Post by Ibanez »

89Hen wrote: Wed Dec 09, 2020 12:21 pm
Ibanez wrote: Wed Dec 09, 2020 12:13 pm That is ridiculous. 3 br 2.5 ba, i'm guessing? ~ 2100 sq ft?


That house would be between $250-$325k here, depending on the neighborhood. :ohno:
It is bigger than that, and don't forget around here we have basements.

89Henette has been looking in your town lately. It's on her list of potential places to move.
We have basements as well. The house across the street is on a double lot, but it's only slightly larger than mine, it has about 900 more sq ft than my house and a that includes a full basement. It just sold 3 months ago for $430k nearly double what I paid 2 yrs ago for mine. Granted - they updated the house and I'm in the process of renovating.


Oh yeah? Fort Mill is one of the best school districts in the state (much better than Charlotte). If you want a locals perspective on this area, let me know. I'd be glad to share. :thumb: :thumb:
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Re: Who Gives & Who Takes: The Government Tit

Post by Winterborn »

Ibanez wrote: Wed Dec 09, 2020 1:34 pm
89Hen wrote: Wed Dec 09, 2020 12:21 pm
It is bigger than that, and don't forget around here we have basements.

89Henette has been looking in your town lately. It's on her list of potential places to move.
We have basements as well. The house across the street is on a double lot, but it's only slightly larger than mine, it has about 900 more sq ft than my house and a that includes a full basement. It just sold 3 months ago for $430k nearly double what I paid 2 yrs ago for mine. Granted - they updated the house and I'm in the process of renovating.


Oh yeah? Fort Mill is one of the best school districts in the state (much better than Charlotte). If you want a locals perspective on this area, let me know. I'd be glad to share. :thumb: :thumb:
Fort Mill is a very nice area from my couple of visits through there. :thumb:
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Re: Who Gives & Who Takes: The Government Tit

Post by 89Hen »

Ibanez wrote: Wed Dec 09, 2020 1:34 pm Oh yeah? Fort Mill is one of the best school districts in the state (much better than Charlotte).
That was exactly what Henette said. It would make it a little easier for me to get Mrs 89 out of Dodge. Just need Jr to move away. :hide:
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Re: Who Gives & Who Takes: The Government Tit

Post by Ibanez »

89Hen wrote: Wed Dec 09, 2020 2:02 pm
Ibanez wrote: Wed Dec 09, 2020 1:34 pm Oh yeah? Fort Mill is one of the best school districts in the state (much better than Charlotte).
That was exactly what Henette said. It would make it a little easier for me to get Mrs 89 out of Dodge. Just need Jr to move away. :hide:
:lol: :lol: :lol: Fort Mill is also the fastest growing town in SC. I love it here. The traffic has gotten bad but there are several infrastructure projects on going that'll relieve much of the congestion. It's small town, you really can know many people around town and see them. I live in the historic district and can walk to the downtown. It's only 2.5 hrs from the mountains, 3 hrs from the beach. The weather is mild...I love it. The taxes are relatively low, you're only 20 minutes from Charlotte and all the art/culture that they bring in.
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Re: Who Gives & Who Takes: The Government Tit

Post by AshevilleApp »

UNI88 wrote: Wed Dec 09, 2020 10:29 am
mainejeff wrote: Wed Dec 09, 2020 10:17 am

Actually I don't.....you guys just hate having someone that presents a different viewpoint than most of the MAGA minions on here. :thumb:
Bullshit! Kalm has different viewpoints and has plenty of respectful debates/discussions with others. Houndy, Jelly and Trip are others. Unfortunately, 89 is suspected of killing Trip and burying him in his backyard. To be fair to 89, he's an equal opportunity serial killer with the remains of Chizzy, Ivy and 93 hidden somewhere in his yard or basement.
Which is amazing since no one has ever seen 89. Ever. Who is he and where will he strike next?
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Re: Who Gives & Who Takes: The Government Tit

Post by UNI88 »

AshevilleApp wrote: Wed Dec 09, 2020 2:31 pm
UNI88 wrote: Wed Dec 09, 2020 10:29 am
Bullshit! Kalm has different viewpoints and has plenty of respectful debates/discussions with others. Houndy, Jelly and Trip are others. Unfortunately, 89 is suspected of killing Trip and burying him in his backyard. To be fair to 89, he's an equal opportunity serial killer with the remains of Chizzy, Ivy and 93 hidden somewhere in his yard or basement.
Which is amazing since no one has ever seen 89. Ever. Who is he and where will he strike next?
:nod: It's easier for him to strike if no one knows what he looks like. It was rumored that Ivy and 93 had seen him so he had to get rid of them early. CID's on his list but he's a big guy and 89 hasn't been able to catch him by surprise yet.
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Re: Who Gives & Who Takes: The Government Tit

Post by Winterborn »

UNI88 wrote: Wed Dec 09, 2020 2:53 pm
AshevilleApp wrote: Wed Dec 09, 2020 2:31 pm

Which is amazing since no one has ever seen 89. Ever. Who is he and where will he strike next?
:nod: It's easier for him to strike if no one knows what he looks like. It was rumored that Ivy and 93 had seen him so he had to get rid of them early. CID's on his list but he's a big guy and 89 hasn't been able to catch him by surprise yet.
Or 89 just doesn't want to work that hard dragging a body. :lol:
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Re: Who Gives & Who Takes: The Government Tit

Post by UNI88 »

GannonFan wrote: Wed Dec 09, 2020 10:43 am
UNI88 wrote: Wed Dec 09, 2020 10:30 am
Let's talk about federal deductions for SALT taxes. I disagreed with the Trump tax cuts but reducing that deduction and the low tax states subsidizing the taxes of high tax states like California and Illinois was a good thing.
The best thing of Trump's tax cuts (and not all was good, there were some negatives for sure) was capping the mortgage deduction. Sure, people had grown to really rely on that, but it was greatly distorting things and we were subsidizing a far number of McMansions. Best to uncouple those long term, even if there was pain short term for that.
I felt some pain when I was living in Illinois and it sucked but it made sense.

There is no reason for someone in Virginia to pay less in federal taxes than someone who lives in Wyoming if they both make the same amount of money just because one lives in a more expensive house. It's their choice where to live and work.
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Re: Who Gives & Who Takes: The Government Tit

Post by mainejeff »

GannonFan wrote: Wed Dec 09, 2020 10:37 am
mainejeff wrote: Wed Dec 09, 2020 9:43 am

Both Florida and Texas with NO income tax. Well why would they need it when New York, NJ, MA and CA can support their asses? :roll: :thumbdown:
First of all, what is CA really supporting? Even by the source you linked to start this thread, CA is almost breakeven in terms of payout versus what it gets back. If you hover over the state it lists a few things, one of them being the return on the dollar, and CA's return on every $1 sent to the feds is $1 back. So neutral. Florida and Texas (where the vast majority of NASA resides, interestingly enough), have returns of $1.12 and $1.05 respectively. Sure, that's a net positive for those two, but hardly living off the government, as you apparently are implying in this thread. Arizona, another retirement destination, is expectedly high ($1.48 return on the dollar). Heck, it doesn't take a genius to see that VA and MD, which are pretty much the concentration of federal spending in many ways, are two of the highest net takers when it comes to federal money - MD is $1.75 and VA is a whopping $2.12 return on the dollar.

Also, as an interesting note, why is Maine such a drag on the system? $1.64 return on the dollar, Maine's milking the system apparently. :coffee:
Maine is either the oldest or second oldest state (average age) in the country. Your own arguments get Maine off the hook. :thumb:
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Re: Who Gives & Who Takes: The Government Tit

Post by mainejeff »

GannonFan wrote: Wed Dec 09, 2020 10:43 am
UNI88 wrote: Wed Dec 09, 2020 10:30 am

Let's talk about federal deductions for SALT taxes. I disagreed with the Trump tax cuts but reducing that deduction and the low tax states subsidizing the taxes of high tax states like California and Illinois was a good thing.
The best thing of Trump's tax cuts (and not all was good, there were some negatives for sure) was capping the mortgage deduction. Sure, people had grown to really rely on that, but it was greatly distorting things and we were subsidizing a far number of McMansions. Best to uncouple those long term, even if there was pain short term for that.
I bet your mortgage is paid off. ;) Isn't the limit on mortgage deductions $1 million? Maybe you can build a "McMansion" for under $1 million in North Dakota? :?
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Re: Who Gives & Who Takes: The Government Tit

Post by mainejeff »

Col Hogan wrote: Wed Dec 09, 2020 10:46 am
mainejeff wrote: Wed Dec 09, 2020 9:43 am

Both Florida and Texas with NO income tax. Well why would they need it when New York, NJ, MA and CA can support their asses? :roll: :thumbdown:
Federal spending in those two names states is predominantly going to the Hugh federal civilian/military work forces in those states...

New York, for example, has fewer federal civilian employees and active duty military (52, 633 civilians, 48,974 military ) than Texas (114,170 civilian, 164,234 military)...

And those people all contribute millions of dollars to the economies of their states

:coffee:
Yes, they contribute millions of dollars in U.S. taxpayer money to re-distribute to Red States.

:coffee:
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Re: Who Gives & Who Takes: The Government Tit

Post by mainejeff »

89Hen wrote: Wed Dec 09, 2020 11:24 am
GannonFan wrote: Wed Dec 09, 2020 10:43 am The best thing of Trump's tax cuts (and not all was good, there were some negatives for sure) was capping the mortgage deduction. Sure, people had grown to really rely on that, but it was greatly distorting things and we were subsidizing a far number of McMansions. Best to uncouple those long term, even if there was pain short term for that.
The problem with our federal tax law is it's one size fits all. The interest deduction was capped at $1M of mortgage amount. For most of the country, that seems like it only affects the super wealthy.

This house is listed for $1,699,000 in the suburbs...

Image
Exactly 89Hen! I didn't read this before I posted my response. We finally agree on something. :)
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Re: Who Gives & Who Takes: The Government Tit

Post by mainejeff »

AZGrizFan wrote: Wed Dec 09, 2020 11:32 am
mainejeff wrote: Wed Dec 09, 2020 9:43 am

Both Florida and Texas with NO income tax. Well why would they need it when New York, NJ, MA and CA can support their asses? :roll: :thumbdown:
Well, what do you know, ANOTHER dipshit with zero economic understanding. I can't speak for Florida, but in TX they get their pound of flesh out of you, just in a different way. On a $500,000 home in AZ, I paid $2100/YR in property taxes. On my $500,000 home in TX, I pay $15,000/YR. So, pick your poison, but try and stay out of the deep end when the conversation turns to economics or finance. :nod: :nod: :dunce: :dunce:
Well when you have ZERO income tax.....you gotta pay for new highways and infrastructure somehow, no? :dunce: :dunce: :dunce:
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Re: Who Gives & Who Takes: The Government Tit

Post by UNI88 »

mainejeff wrote: Wed Dec 09, 2020 3:09 pm
89Hen wrote: Wed Dec 09, 2020 11:24 am
The problem with our federal tax law is it's one size fits all. The interest deduction was capped at $1M of mortgage amount. For most of the country, that seems like it only affects the super wealthy.

This house is listed for $1,699,000 in the suburbs...

Image
Exactly 89Hen! I didn't read this before I posted my response. We finally agree on something. :)
High wage earners are the ones who benefit the most from an unlimited SALT deduction. Why do you support taxing the poor and middle class to benefit the wealthy Geoffrey?

The SALT tax deduction is a handout to the rich. It should be eliminated not expanded
Lifting the cap on the SALT deduction would massively favor the rich, with most of the benefit going to the top one percent.

Lifting the cap would in fact give almost three times as much, as a share of the cut, to the top one percent as the TCJA cuts did as a whole (of course the absolute amount is very much less).

Even with the cap, the SALT deduction remains pro-rich, with around three-quarters of the benefit going to families in the top fifth of the income distribution.
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Re: Who Gives & Who Takes: The Government Tit

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SALT is another way for Red States to funnel more money away from Blue States....if they increased the $10,000 cap.....Fed coffers would take a hit and Red States might not get all of the Fed entitlements that are currently showered upon them. It's all a shell game anyway. We will have a Blue President which should benefit Blue States......just like Trump's Presidency benefited Red States for 4 years. :thumb:
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Re: Who Gives & Who Takes: The Government Tit

Post by UNI88 »

mainejeff wrote: Wed Dec 09, 2020 3:32 pm SALT is another way for Red States to funnel more money away from Blue States....if they increased the $10,000 cap.....Fed coffers would take a hit and Red States might not get all of the Fed entitlements that are currently showered upon them. It's all a shell game anyway. We will have a Blue President which should benefit Blue States......just like Trump's Presidency benefited Red States for 4 years. :thumb:
:rofl: Only if you went to the AOChe School of Economics.
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Re: Who Gives & Who Takes: The Government Tit

Post by mainejeff »

UNI88 wrote: Wed Dec 09, 2020 3:58 pm
mainejeff wrote: Wed Dec 09, 2020 3:32 pm SALT is another way for Red States to funnel more money away from Blue States....if they increased the $10,000 cap.....Fed coffers would take a hit and Red States might not get all of the Fed entitlements that are currently showered upon them. It's all a shell game anyway. We will have a Blue President which should benefit Blue States......just like Trump's Presidency benefited Red States for 4 years. :thumb:
:rofl: Only if you went to the AOChe School of Economics.
As opposed to the Trump School of Bankruptcy?
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Re: Who Gives & Who Takes: The Government Tit

Post by UNI88 »

mainejeff wrote: Wed Dec 09, 2020 4:20 pm
UNI88 wrote: Wed Dec 09, 2020 3:58 pm
rofl: Only if you went to the AOChe School of Economics.
As opposed to the Trump School of Bankruptcy?
Trump and AOChe are mirror images of each other - both are ignorant, bombastic buffoons.
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Re: Who Gives & Who Takes: The Government Tit

Post by 89Hen »

mainejeff wrote: Wed Dec 09, 2020 3:09 pm Exactly 89Hen! I didn't read this before I posted my response. We finally agree on something. :)
:thumb: Does that mean we're going steady?
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