The Happy Thread :D

Discussion in 'Off Topic' started by The Happy Swede, Jun 16, 2011.

  1. Fishon

    Fishon I Will Close You

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    Just having some fun with my brother-in-law who's a big obnoxious type Trump supporter. He makes his living in LA flipping homes, therefore is self employed and has to get his own healthcare policy.

    Tax reform plan halves the cap on mortgage interest deduction

    GOP tax bill would eliminate medical expense deductions


    Of course I don't wish anything bad upon him, and since we are planning on moving the mortgage interest reduction to 500k would effect us as well. Of course Trump was going the screw the blue states. But still a lot of fun messing with him. ;) He has not texted me back...
     
  2. Jarhead

    Jarhead Systematic Love

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    I love living in a state with cheap housing :). $500k would be a very nice McMansion here.

    That all said, it looks like the middle-income brackets will get a cut, so yay for that (assuming it actually happens, which I doubt).
     
  3. Gabrielgvs

    Gabrielgvs Notebook Consultant

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    This isn't a Red State/Blue State issue. The middle-class and upper-middle class has been in the policy cross hairs for years now. I don't disagree however, that a higher concentration of this group is found in the Northeast, for example. The other idea I saw floated a couple weeks ago was equally absurd, in the form of reduced 401(k) contributions. Let's see what actually gets passed, because quite a few people will impacted to a significant extent if any of these get through.
     
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  4. Fishon

    Fishon I Will Close You

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    Like any proposal, they'll we winners and losers in the middle class as well. If the medical expense deduction goes away it would certainly hurt people with high medical costs.

    Not a red/blue state per se, but as you stated a federal limit on earnings or the price of a house is drastically different within regions of the US. Of course the GAO report won't be out for awhile and it's difficult to project how much more taxes will be collected from a stronger economy, but we know it will be a net loss and I'm hearing to the tune of 1.5 trillion. I'm not a balanced budget guy, but I have an average concern about it. But why was it such a bad thing when the economy was in crisis under Obama, and now with a healthy economy it's fine to add significantly to it? Shouldn't we be paying it down in the good times?
     
  5. Jarhead

    Jarhead Systematic Love

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    Well, my politics are pretty selfish (that's the whole point of politics), so if that's the case then I should be alright.
     
  6. Fishon

    Fishon I Will Close You

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    It's going to help me, so who cares about the future or others I tell myself. :vbthumbsup:
     
  7. Gabrielgvs

    Gabrielgvs Notebook Consultant

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    This is the real answer. The problem isn't with the tax code and cannot therefore be addressed by it or through it. Spending is the problem but in the US consumption-based economy, we're addicted to it, particularly on Wall Street where policy is really made. So why not continue on with policy which drives revenues despite public debt? Now, to make matters worse, some want to use the tax code to redistribute the private property of others (libs) or manipulate it to favor a very small percentage of people at the top (GOP). Neither of these represents the legal or philosophical purpose of taxation in the US.
     
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  8. Jarhead

    Jarhead Systematic Love

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    Mhmm. Again, politics is all about your own gain ("Voice your opinions", after all). That also includes virtual signaling ;)
     
  9. radji

    radji Farewell, Solenya...

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    The weather has cleared up nicely. Tomorrow will be a great day for a street fair.
     
  10. killkenny1

    killkenny1 Too weird to live, too rare to die.

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    W00t, my Objective 2 and ODAC combo has arrived!
     
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