Trump tax law cost homeowners $1 trillion in lost equity

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Blue states' problem. He doesn't care.

As the cliche goes, "that's a feature, not a bug."

You: "Blue state homeowner's lost $1 trillion in home equity, waaaaah!"

Me:

¯\_(?)_/¯

Can we note that blue state's didn't lose $1 trillion in home equity though? No equity was lost. It was projected that the prices could have risen and they didn't... so they're calling that "lost" equity. It isn't lost if it never existed.

[Anonymous]

Anonymous wrote:The double taxation on capital is an even bigger rip off. Let’s end and go to a flat tax so that things are more fair. Even better, drop all standing taxes and go to a consumption tax system. Let the individual decide.

A consumption tax hurts the poor and middle class who spend a larger portion of their income on goods and services. The wealthy put their money in investments which would not be taxed (or not taxed proportionally).

[Anonymous]

Anonymous wrote:We are DC middle class - ‘$120k - and don’t own a home. Our taxes went down for the first time ever. We have been paying to much for too long. Every time a friend complains about paying higher taxes and reducing some spending on some nonsense crap I smile to myself. Sadly it almost makes me want to vote for Trump in 2020.

+1

And why isn’t this in the Politics Forum?

[Anonymous]

Anonymous wrote:

Anonymous wrote:The double taxation on capital is an even bigger rip off. Let’s end and go to a flat tax so that things are more fair. Even better, drop all standing taxes and go to a consumption tax system. Let the individual decide.

A consumption tax hurts the poor and middle class who spend a larger portion of their income on goods and services. The wealthy put their money in investments which would not be taxed (or not taxed proportionally).

They can save and become rich and then become investors too. Sounds like a road to prosperity to me.

[Anonymous]

Anonymous wrote:Just watched a movie on Netflix called The Laundromat with Meryl Streep. Pretty certain it is a head nod to trump’s horrible policies and the foreign implications for business, financial instruments, cleaning money, tax shelters and that gray area between tax avoidance and tax evasion. This article is just the tip of the iceberg of the impacts of this horrible stolen presidency. Interesting that this data is coming out to substantiate what we all heard Obama complaining about 10 years ago.

Tax laws and campaign finance/donation laws need revising.

Trump has been president for three years. Any tax shelters and financial instruments and the gray area between tax avoidance and evasion is going to be decades old. Ask yourself why Obama didn't tackle it when he had the majority. Nuh uh.

Be realistic. It's not as if Trump got elected and suddenly there's all these tax shelters and creative accounting coming out of the woodworks and cackling accountants conspiring with the Republicans to deliberately shaft Americans. The world doesn't work like that. Your opinions are imaginary. That you got it from a Netflix movie (!) of all things shows it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am okay with this. Housing is unaffordable, it can't keep going up and up.

Did you read the article? Affordability does not change. Equity that would have gone to homeowners instead went to the government as taxes. This does not change affordability, as the cost of taxes are passed onto renters and owner-occupiers.

Even worse, the federal government used this equity the belongs to home owners and gave it to fund the corporate tax breaks in the legislation. And many of those companies are actually foreign controlled. There are other economic studies that show that somewhere around 50% of the tax windfall in the Trump tax cuts benefitted foreign shareholder, companies, and/or foreign individuals.

We literally took money from American home owners to give away to wealthy foreigners.

Yes, I read it. This part was notable:
“Please note that Zandi isn’t saying that house prices have fallen by an average of 4%. That hasn’t happened. What he’s saying is that on average, house prices are about 4% lower than they’d otherwise be.”

Home prices are increasing too fast. If this is part of the equation to keep them from escalating so quickly, I’m okay with that.

This is hilarious.

the old proving of a negative.