Anonymous
Post 11/29/2019 07:11     Subject: Re:Trump tax law cost homeowners $1 trillion in lost equity
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.
Anonymous
Post 11/29/2019 05:58     Subject: Trump tax law cost homeowners $1 trillion in lost equity
Anonymous wrote:I hate Trump with every cell of my being but..it was just an unrealized gain. If you're going to use your home as an investment, realize that it's value can go up or down with regulations and market forces.


+ 1 on this.
Anonymous
Post 11/29/2019 05:57     Subject: Trump tax law cost homeowners $1 trillion in lost equity
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.
Anonymous
Post 11/28/2019 22:36     Subject: Trump tax law cost homeowners $1 trillion in lost equity
Anonymous wrote:
Anonymous wrote:I hate Trump with every cell of my being but..it was just an unrealized gain. If you're going to use your home as an investment, realize that it's value can go up or down with regulations and market forces.


That’s why the tax bill was so insidious: they took from you and you didn’t even realize it. Then gain was realized by the government and handed over to corporations and foreigners, on the backs of US taxpayers.

Your pocket was picked and you simply shrug.


Exactly. PP is trying to sound smart but failing miserably.
Anonymous
Post 11/28/2019 22:33     Subject: Trump tax law cost homeowners $1 trillion in lost equity
Anonymous wrote:I hate Trump with every cell of my being but..it was just an unrealized gain. If you're going to use your home as an investment, realize that it's value can go up or down with regulations and market forces.


That’s why the tax bill was so insidious: they took from you and you didn’t even realize it. Then gain was realized by the government and handed over to corporations and foreigners, on the backs of US taxpayers.

Your pocket was picked and you simply shrug.
Anonymous
Post 11/28/2019 21:59     Subject: Trump tax law cost homeowners $1 trillion in lost equity
I hate Trump with every cell of my being but..it was just an unrealized gain. If you're going to use your home as an investment, realize that it's value can go up or down with regulations and market forces.
Anonymous
Post 11/28/2019 21:44     Subject: Trump tax law cost homeowners $1 trillion in lost equity
Anonymous wrote:I’m no Trump fan. Politics aside, our taxes went down despite the SALT cap. Itemized deductions in 2018 were $72k but $32k in 2019. And our overall tax bill still declined. Same income. My point is that I’m not convinced the SALT cap is that big of a deal.

And your annual income is . . . ?
Anonymous
Post 11/28/2019 21:42     Subject: Trump tax law cost homeowners $1 trillion in lost equity
I’m no Trump fan. Politics aside, our taxes went down despite the SALT cap. Itemized deductions in 2018 were $72k but $32k in 2019. And our overall tax bill still declined. Same income. My point is that I’m not convinced the SALT cap is that big of a deal.
Anonymous
Post 11/28/2019 21:37     Subject: Re:Trump tax law cost homeowners $1 trillion in lost equity
Anonymous wrote:Everything Trump does is total shit. Worst president ever.


Yes, unfortunately..
Anonymous
Post 11/28/2019 21:36     Subject: Trump tax law cost homeowners $1 trillion in lost equity
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.


1000% UGH...... Trump worst president.
Anonymous
Post 11/28/2019 21:27     Subject: Re:Trump tax law cost homeowners $1 trillion in lost equity
Everything Trump does is total shit. Worst president ever.
Anonymous
Post 11/28/2019 21:21     Subject: Trump tax law cost homeowners $1 trillion in lost equity
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.
Anonymous
Post 11/28/2019 20:21     Subject: Trump tax law cost homeowners $1 trillion in lost equity
I am okay with this. Housing is unaffordable, it can't keep going up and up.
Anonymous
Post 11/28/2019 17:45     Subject: Trump tax law cost homeowners $1 trillion in lost equity
Blue states' problem. He doesn't care.
Anonymous
Post 11/28/2019 17:17     Subject: Trump tax law cost homeowners $1 trillion in lost equity
Fascinating research from Mark Zandi and other investment professionals - the loss of SALT deductions lowered home values by 4% nationwide, resulting in $1 trillion in lost equity to home owners.

https://www.propublica.org/article/trumps-trillion-dollar-hit-to-homeowners