Reply to Big Beautiful Bill

Forum Index » Political Discussion

Reply to "Big Beautiful Bill"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Poor and middle class spend their money when they have it. Their needs and wants lists are long.  They pay taxes on it when it’s earned, and again on the things they buy.

Rich people hoard it,  hide it in tax havens, yachts, loophole purchases, and even foreign countries.  Or just as bad, they use it to hoard real estate which drives up the cost of housing. And worst of all, when they get ultra rich, they buy politicians and elections which negatively affect us all.

[/quote]

Have you ever heard of real estate taxes?  I have not seen any exemption for expensive homes.   [/quote]

Uh, have you heard of SALT deductions and the mortgage interest deduction? Those are not tax benefits for the lower or middle classes.[/quote]

You're deducting local taxes on your federal taxes, but still are paying local taxes.  Your real estate is not miraculously tax-free
This. We own two properties - one we live in and one we rent out. We can already deduct the property tax on the rental against the rent we receive. Now we will once again be deducting the property tax on our residence. And our mortgage interest. And our state income tax. And our charitable contributions. Families like us were not the ones who were most in need of a tax cut - but here we are.[/quote]

You're deducting local taxes on your federal taxes, but still are paying local taxes.  Your real estate is not miraculously tax-free; you're just not paying as much federal tax as you otherwise would.  You can always lobby for repeal of the SALT exemption if you'[d prefer to pay more federal tax.  [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics