Bahahahaa! Trump's screws homeowners over - Wall Street Journal

[OKTexas]

Friend of mine who lives in NY said Trump's tax reform raised his property taxes $4000.

LMAO, he lied. The feds don't control property taxes in a State.


.

Another dumbass who can't even read three lines into a paragraph.
I posted from three separate sources: WSJ, Bloomberg and ABC News
And all of you idiots just want to keep that wet paper bag over your head and hope it doesn't fall off.

You're a dumbass that doesn't know that the State taxes aren't being changed, their deductibility is being changed. Just like they stopped allowing interest paid on credit cards to be deducted years ago. That didn't increase the interest paid.


.

What the fuck do you think I've posted for the last 6 pages?
I'm not posting my opinion, I'm posting the facts.
WTF have you posted except pixelated methane?

I've reposted your facts with examples. You're just too stupid to understand.


.

 

[koshergrl]

What, high end home owners need to pay more?

I thought this bill was supposed to transfer all the wealth to the rich.

Listen to the dems whine because the poor people get a break, and their tax bracket is going to have to take on some fiscal responsibility.

Poor elitist demtards.

 

[TNHarley]

Friend of mine who lives in NY said Trump's tax reform raised his property taxes $4000.

Trump didnt raise property taxes, you fucking idiot.
He lowered a deduction. Sorry your rich friend will have to pay his fair share

Friend of mine who lives in NY said Trump's tax reform raised his property taxes $4000.

You know homeowners don't pay a federal property tax don't you?

Here, I don't have the time to explain it to you:

Snip:

"Residents in New York, like others around the country, are rushing to file because the new tax code, signed into law last week, limits the amount of state and local taxes people can deduct on their federal returns, according to Donald Clavin, town receiver of taxes in Hempstead, New York. The change could cost some homeowners, especially those in high-tax states, thousands of dollars.""""
:
Snip:
“For weeks, many of us have bemoaned the Republican tax bill for a host of reasons. But high on the list was how punitive it is to high-cost, "blue" states and counties like ours,” Montgomery County Councilmember Roger Berliner, who proposed the bill, said in a statement Tuesday. “Capping the deduction for state and local taxes at $10,000 will take thousands of dollars out of the pockets of a big chunk of our residents, almost 40 percent of whom itemize their deductions today."""

Residents in high-tax states rush to file property taxes before new rules take effect

Trump did not raise anyone's property taxes. The state charges these property taxes. If the residents don't like paying those taxes, take it up with the state and get them lowered.

Trump did raise taxes on certain people. McConnell even admits that. The rich are not paying their fair share. Get rid of the carried interest deduction, the pass through, and the special break for real estate trusts. The upper middle class will see tax hikes.

Trump did not raise property taxes. He CANT

 

[jc456]

Friend of mine who lives in NY said Trump's tax reform raised his property taxes $4000.

LMAO, he lied. The feds don't control property taxes in a State.


.

Another dumbass who can't even read three lines into a paragraph.
I posted from three separate sources: WSJ, Bloomberg and ABC News
And all of you idiots just want to keep that wet paper bag over your head and hope it doesn't fall off.

The feds have no say in property tax rates.

Hahahaha....You idiots just keep repeating yourselves and none of you will post anything to the contrary.
Trump is fucking us over, just like we said he would.
The new law is worse than I thought, it's not just a cap on property tax deduction at $10K.
It's a combination of state, local and property COMBINED and capped at $10K.

you didn't answer me. why?

 

[OKTexas]

LMAO, he lied. The feds don't control property taxes in a State.


.

Another dumbass who can't even read three lines into a paragraph.
I posted from three separate sources: WSJ, Bloomberg and ABC News
And all of you idiots just want to keep that wet paper bag over your head and hope it doesn't fall off.

The feds have no say in property tax rates.

Hahahaha....You idiots just keep repeating yourselves and none of you will post anything to the contrary.
Trump is fucking us over, just like we said he would.
The new law is worse than I thought, it's not just a cap on property tax deduction at $10K.
It's a combination of state, local and property COMBINED and capped at $10K.

Another liberal half truth, here I'll finish this morons sentence for him...AND the standard deduction was nearly doubled to $12,000 for singles and $24,000 for married couples.

Then they cleverly slipped in repeal of the individual health insurance mandate, too, which means that everybody's health insurance is going up, whether you're on O'care or other.

Wrong again moonbat, mine won't change a cent.


.

 

[Issa]

Friend of mine who lives in NY said Trump's tax reform raised his property taxes $4000.

You know homeowners don't pay a federal property tax don't you?

Here, I don't have the time to explain it to you:

Snip:

"Residents in New York, like others around the country, are rushing to file because the new tax code, signed into law last week, limits the amount of state and local taxes people can deduct on their federal returns, according to Donald Clavin, town receiver of taxes in Hempstead, New York. The change could cost some homeowners, especially those in high-tax states, thousands of dollars.""""
:
Snip:
“For weeks, many of us have bemoaned the Republican tax bill for a host of reasons. But high on the list was how punitive it is to high-cost, "blue" states and counties like ours,” Montgomery County Councilmember Roger Berliner, who proposed the bill, said in a statement Tuesday. “Capping the deduction for state and local taxes at $10,000 will take thousands of dollars out of the pockets of a big chunk of our residents, almost 40 percent of whom itemize their deductions today."""

Residents in high-tax states rush to file property taxes before new rules take effect

Trump did not raise anyone's property taxes. The state charges these property taxes. If the residents don't like paying those taxes, take it up with the state and get them lowered. The more valuable the property, the more tax is paid. You are crying about a bunch of rich people having to finally pay their fair share.

I can't believe this. Can't you fucking read? Trump raised property taxes by putting a cap on what can be deducted on their federal and state returns.
THIS OVERRIDES state laws and has nothing to do with state and local taxation.

Just learn to read and then you won't be making such stupid posts like this.

Trump cannot raise state property taxes. He can reduce the amount of the deduction but that does not change the amount of taxes owed. Why are you having such a hard time with this. If the amount of taxes owed is $4,000 and Trump says you can only deduct $2,000 leaving you with a whopping $2,000 property tax bill, the amount of taxes owed hasn't changed. Only the deduction has changed. It was always the same $4,000.

Start electing state officials to reduce the property tax. That's your answer.

How do you think those people in California who benefited from Prop 13 all those years ago feel now? Democrats have been trying to get rid of that and raise property taxes for decades.

Where i live property taxes range between 25k to 70k/year. No one is complaining so far. I just wish

Friend of mine who lives in NY said Trump's tax reform raised his property taxes $4000.

Then your friend is a dumbass. It didn’t raise property taxes, it just reduced the amount you could deduct.


Sent from my iPhone using USMessageBoard.com

same shit...Trump's shitty tax plan didn't help did in this case, did it?

 

[busybee01]

That $10K cap on state and local tax deductions is also devastating to small businesses. It's as if the Republicans all brainstormed "what would kill jobs most effectively?", and them implemented the idea.

The bill was rushed through because the most important thing for Trump was a "win" for his first year, besides appointing a pointy-headed ultra-conservative, anti-individual rights justice to the Supreme Court.

Reagan's tax reform bill took two years to get through Congress. Trump's took two weeks. That's why there's going to be A LOT of shit like this.
The Trump tax cuts fall far short of Ronald Reagan’s reforms
https://www.economist.com/blogs/graphicdetail/2017/11/daily-chart-13

Reagan was a great man who wanted to do what was right for the country not for simple politics. He had a plan to cut taxes in place way before he decided to run for President in 1980. He had no plan to reform taxes but he took his time to do it right. He did not use it as a platform to attack his political enemies. Today he probably would be rejected by conservatives whose goal is to abuse their legislative power to get even with their enemies. You have a healthcare plan and tax plan drawn up in 2 weeks or so with Republicans who know nothing about taxes except to give themselves tax breaks. If I were a Democrat I would make sure that people know. There are more than enough Republican seats in red states to give Democrats the majority in the House.

That $10K cap on state and local tax deductions is also devastating to small businesses. It's as if the Republicans all brainstormed "what would kill jobs most effectively?", and them implemented the idea.

You are confusing individual and business taxes.

The individual exemption has increased and the rates were lowered. For the vast majority of working people, the combined impact will be either tax neutral or a reduction in federal taxes.

I would have preferred a straight 15% tax rate on all income above a poverty level ceiling, and the elimination of SS and Medicare taxes - with no deductions or exemptions at all.

The individual rate was not indexed to inflation so it will be worth less each year. The tax brackets will be indexed by a lower measure of the inflation index which will put people in higher tax brackets. It depends on your situation. Upper middle income people will be the most likely to pay higher taxes due to the loss of state and property tax deductions.

 

[buckeye45_73]

Friend of mine who lives in NY said Trump's tax reform raised his property taxes $4000.

how did it raise his property tax?
and he must be rich, so it's ok isn't it?

 

[buckeye45_73]

That $10K cap on state and local tax deductions is also devastating to small businesses. It's as if the Republicans all brainstormed "what would kill jobs most effectively?", and them implemented the idea.

not to us here in TN.......because we don't elect local democrats any more......except in the cities.....you get what you vote for......
maybe you'll care what govt money is used for..........Im not holding my breath.

 

[jc456]

This is confusing, I have a nice home, my property tax doesn’t exceed $10,000. I guess I’m not rich enough...wait!! I thought the bill only helped the rich and yet they will pay more? Hmmmm....looks like the media lied to us.


Sent from my iPhone using Tapatalk

Actually the cost of housing is a very local matter. We are seeing a shortage of affordable housing in favor of high end housing. I can see young professionals in the suburbs having property tax bills over $10,000 and being essentially middle class. The number of people paying out 40% or more of their income in this country is rising and it is not just lower class people. The bill does help the rich in that it allows them to shelter their income and pay lower taxes. First of all, the carried interest deduction was retained and even Trump admits this is garbage. Then you have the pass-through rates which will allow people to shield up to 30% of their income. Also passive investors in these businesses will be able to pay the lower rate on 100% of their income. Also you have the pass-through being extended to real-estate trusts which helps Paul Ryan, Bob Corker who changed his vote to yes, and Donald Trump.

it's not about affordable housing but property taxes. How much your monthly payment is doesn't have jack to do with property taxes.

 

[busybee01]

Friend of mine who lives in NY said Trump's tax reform raised his property taxes $4000.

Trump didnt raise property taxes, you fucking idiot.
He lowered a deduction. Sorry your rich friend will have to pay his fair share

He was already paying $22K a year. He pays more in property taxes than you make cleaning toilets in a whole year.
Read the article before you make yourself look even stupider.

so the rich have to pay more in taxes right? isn't that what trump said? you called him a liar. looks like that liar is actually you! spin. weeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee

You look like the liar to me. The rich will have plenty of opportunities to shield their income from taxes. That more than makes up for the loss of the state and local tax deduction. The carried interest deduction was retained and even Trump agreed this should have been gotten rid of. I can see campaign commercials where Trump talks about getting rid of the carried interest deduction and pointing out it is still in there. Also the pass through provision helps businesses who make millions not small businesses. Also the real estate deduction creates a tax shelter for the rich to hide their money and have it taxed at a 24% rate rather than a 37% rate.

 

[jc456]

Friend of mine who lives in NY said Trump's tax reform raised his property taxes $4000.

Trump didnt raise property taxes, you fucking idiot.
He lowered a deduction. Sorry your rich friend will have to pay his fair share

He was already paying $22K a year. He pays more in property taxes than you make cleaning toilets in a whole year.
Read the article before you make yourself look even stupider.

so the rich have to pay more in taxes right? isn't that what trump said? you called him a liar. looks like that liar is actually you! spin. weeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee

You look like the liar to me. The rich will have plenty of opportunities to shield their income from taxes. That more than makes up for the loss of the state and local tax deduction. The carried interest deduction was retained and even Trump agreed this should have been gotten rid of. I can see campaign commercials where Trump talks about getting rid of the carried interest deduction and pointing out it is still in there. Also the pass through provision helps businesses who make millions not small businesses. Also the real estate deduction creates a tax shelter for the rich to hide their money and have it taxed at a 24% rate rather than a 37% rate.

that interest deduction is equal to all states. Not property taxes. hly fk. when you lefties going to understand taxes?

 

[WaitingFor2020]

Another dumbass who can't even read three lines into a paragraph.
I posted from three separate sources: WSJ, Bloomberg and ABC News
And all of you idiots just want to keep that wet paper bag over your head and hope it doesn't fall off.

The feds have no say in property tax rates.

Hahahaha....You idiots just keep repeating yourselves and none of you will post anything to the contrary.
Trump is fucking us over, just like we said he would.
The new law is worse than I thought, it's not just a cap on property tax deduction at $10K.
It's a combination of state, local and property COMBINED and capped at $10K.

Another liberal half truth, here I'll finish this morons sentence for him...AND the standard deduction was nearly doubled to $12,000 for singles and $24,000 for married couples.

Then they cleverly slipped in repeal of the individual health insurance mandate, too, which means that everybody's health insurance is going up, whether you're on O'care or other.

And opened the Alaska Wildlife Refuge to oil and gas drilling MAGA baby!

It was the most irresponsible act of all given that we have been in an oil glut, with crude oil tank farms sprouting up all over the Texas coast and oil tankers lined up that can't come to port.

 

[jc456]

The feds have no say in property tax rates.

Hahahaha....You idiots just keep repeating yourselves and none of you will post anything to the contrary.
Trump is fucking us over, just like we said he would.
The new law is worse than I thought, it's not just a cap on property tax deduction at $10K.
It's a combination of state, local and property COMBINED and capped at $10K.

Another liberal half truth, here I'll finish this morons sentence for him...AND the standard deduction was nearly doubled to $12,000 for singles and $24,000 for married couples.

Then they cleverly slipped in repeal of the individual health insurance mandate, too, which means that everybody's health insurance is going up, whether you're on O'care or other.

And opened the Alaska Wildlife Refuge to oil and gas drilling MAGA baby!

It was the most irresponsible act of all given that we have been in an oil glut, with crude oil tank farms sprouting up all over the Texas coast and oil tankers lined up that can't come to port.

elections have consequences eh?

 

[WaitingFor2020]

Yep, I asked my CPA a couple of questions yesterday and he's still scratching his head. 1100 pages of muck that I'll guarantee you not one of them read (it was written by their lobbyist overlords and cobbled together).

One thing for sure - tax prep is going to cost everyone more for the next couple of years. It's a hot mess that'll take preparers more time to figure out.

The average American taxpayer is gonna be absolutely thrilled!

Oh, but Paul Ryan said we'd be able to file our taxes on a postcard!
They are stinking bags of shit. Trump and his troop of ass kissers.

 

[WaitingFor2020]

Friend of mine who lives in NY said Trump's tax reform raised his property taxes $4000.

LMAO, he lied. The feds don't control property taxes in a State.


.

Another dumbass who can't even read three lines into a paragraph.
I posted from three separate sources: WSJ, Bloomberg and ABC News
And all of you idiots just want to keep that wet paper bag over your head and hope it doesn't fall off.

The feds have no say in property tax rates.

Hahahaha....You idiots just keep repeating yourselves and none of you will post anything to the contrary.
Trump is fucking us over, just like we said he would.
The new law is worse than I thought, it's not just a cap on property tax deduction at $10K.
It's a combination of state, local and property COMBINED and capped at $10K.

There's no need for us to post anything, you've already posted everything to prove you don't fucking know how to read or comprehend a damn thing.


.

I just post the facts and you just keep your head up your ass....or Trump's.

 

[busybee01]

This is confusing, I have a nice home, my property tax doesn’t exceed $10,000. I guess I’m not rich enough...wait!! I thought the bill only helped the rich and yet they will pay more? Hmmmm....looks like the media lied to us.


Sent from my iPhone using Tapatalk

Actually the cost of housing is a very local matter. We are seeing a shortage of affordable housing in favor of high end housing. I can see young professionals in the suburbs having property tax bills over $10,000 and being essentially middle class. The number of people paying out 40% or more of their income in this country is rising and it is not just lower class people. The bill does help the rich in that it allows them to shelter their income and pay lower taxes. First of all, the carried interest deduction was retained and even Trump admits this is garbage. Then you have the pass-through rates which will allow people to shield up to 30% of their income. Also passive investors in these businesses will be able to pay the lower rate on 100% of their income. Also you have the pass-through being extended to real-estate trusts which helps Paul Ryan, Bob Corker who changed his vote to yes, and Donald Trump.

it's not about affordable housing but property taxes. How much your monthly payment is doesn't have jack to do with property taxes.

Yes it can. If you are a young professional making a lot of money, the only housing in the area may be more expensive housing with higher property taxes. The Atlanta suburbs are a example. A recent NY Times analysis showed that people in the $100,000-200,000 are the most likely to pay higher taxes. This was based on the Senate bill so the numbers may have changed some but not that much. This is likely to be people in the suburbs. In terms of income, they may be seen as having it made, but the could be scarping by. Ronald Reagan did a much better job on tax reform because he wanted to do what was right not play politics.

 

[jc456]

This is confusing, I have a nice home, my property tax doesn’t exceed $10,000. I guess I’m not rich enough...wait!! I thought the bill only helped the rich and yet they will pay more? Hmmmm....looks like the media lied to us.


Sent from my iPhone using Tapatalk

Actually the cost of housing is a very local matter. We are seeing a shortage of affordable housing in favor of high end housing. I can see young professionals in the suburbs having property tax bills over $10,000 and being essentially middle class. The number of people paying out 40% or more of their income in this country is rising and it is not just lower class people. The bill does help the rich in that it allows them to shelter their income and pay lower taxes. First of all, the carried interest deduction was retained and even Trump admits this is garbage. Then you have the pass-through rates which will allow people to shield up to 30% of their income. Also passive investors in these businesses will be able to pay the lower rate on 100% of their income. Also you have the pass-through being extended to real-estate trusts which helps Paul Ryan, Bob Corker who changed his vote to yes, and Donald Trump.

it's not about affordable housing but property taxes. How much your monthly payment is doesn't have jack to do with property taxes.

Yes it can. If you are a young professional making a lot of money, the only housing in the area may be more expensive housing with higher property taxes. The Atlanta suburbs are a example. A recent NY Times analysis showed that people in the $100,000-200,000 are the most likely to pay higher taxes. This was based on the Senate bill so the numbers may have changed some but not that much. This is likely to be people in the suburbs. In terms of income, they may be seen as having it made, but the could be scarping by. Ronald Reagan did a much better job on tax reform because he wanted to do what was right not play politics.

dude, I have a 300K home and property taxes are 8k. Illinois happens to be the highest property tax state next to new Jersey. so don't give me that.

 

[busybee01]

Friend of mine who lives in NY said Trump's tax reform raised his property taxes $4000.

You know homeowners don't pay a federal property tax don't you?

Here, I don't have the time to explain it to you:

Snip:

"Residents in New York, like others around the country, are rushing to file because the new tax code, signed into law last week, limits the amount of state and local taxes people can deduct on their federal returns, according to Donald Clavin, town receiver of taxes in Hempstead, New York. The change could cost some homeowners, especially those in high-tax states, thousands of dollars.""""
:
Snip:
“For weeks, many of us have bemoaned the Republican tax bill for a host of reasons. But high on the list was how punitive it is to high-cost, "blue" states and counties like ours,” Montgomery County Councilmember Roger Berliner, who proposed the bill, said in a statement Tuesday. “Capping the deduction for state and local taxes at $10,000 will take thousands of dollars out of the pockets of a big chunk of our residents, almost 40 percent of whom itemize their deductions today."""

Residents in high-tax states rush to file property taxes before new rules take effect

Trump did not raise anyone's property taxes. The state charges these property taxes. If the residents don't like paying those taxes, take it up with the state and get them lowered. The more valuable the property, the more tax is paid. You are crying about a bunch of rich people having to finally pay their fair share.

I can't believe this. Can't you fucking read? Trump raised property taxes by putting a cap on what can be deducted on their federal and state returns.
THIS OVERRIDES state laws and has nothing to do with state and local taxation.

Just learn to read and then you won't be making such stupid posts like this.

Trump cannot raise state property taxes. He can reduce the amount of the deduction but that does not change the amount of taxes owed. Why are you having such a hard time with this. If the amount of taxes owed is $4,000 and Trump says you can only deduct $2,000 leaving you with a whopping $2,000 property tax bill, the amount of taxes owed hasn't changed. Only the deduction has changed. It was always the same $4,000.

Start electing state officials to reduce the property tax. That's your answer.

How do you think those people in California who benefited from Prop 13 all those years ago feel now? Democrats have been trying to get rid of that and raise property taxes for decades.

Trump is raising taxes on people by capping deductions for state and local taxes. If they had done a across the board tax cut then it wouldn't be a issue. They needed the money to lower taxes on businesses.

 

[DrLove]

Oh, but Paul Ryan said we'd be able to file our taxes on a postcard!
They are stinking bags of shit. Trump and his troop of ass kissers.

Oh yeah, heard something about that - Looks a little something like this I believe