12-21-2017, 12:25 AM | #46 |
Major General
3046
Rep 6,089
Posts |
I want to see if the corporate tax cut will cause iphones to be made in the US. Doubt it though.
|
Appreciate
1
Captain Blood13861.00 |
12-21-2017, 01:56 AM | #47 | |
...
11832
Rep 15,400
Posts |
They could be! Ask Wisconsin! They apparently lost the batteries of their calculator and almost snatched a huge deal!
__________________
Quote:
|
|
Appreciate
0
|
12-21-2017, 03:56 AM | #48 |
Captain
225
Rep 610
Posts |
Since when is a 500k mortgage middle class?
Also AT&T is giving out $1000 bonus to 200k employees. |
Appreciate
1
Taskmaster2472.00 |
12-21-2017, 04:58 AM | #49 | |
Captain
737
Rep 744
Posts |
Quote:
Assume 5% down rather than 20% and the west coast Home gets even smaller, and the neighborhood dodgier. Most don't recognize that a doubling of the Home price means a tripling (or more) of the mortgage size. This is why you become instantly poor moving east coast to west, and instantly wealthy moving the other way. |
|
Appreciate
2
hooligan_G016523.00 buddalun684.00 |
12-21-2017, 07:12 AM | #50 |
Major General
10581
Rep 8,880
Posts |
Middle class is defined by your income not by the price of your home...
Believe it or not, the median family income in this country is $50k... anything above that is actually slightly better than middle middle class. If that makes you poor in California, then so be it... this statistic does not change based on the region you live in... |
Appreciate
1
Taskmaster2472.00 |
12-21-2017, 07:15 AM | #51 |
Brigadier General
1850
Rep 4,836
Posts |
$500k mortgage is certainly not 'average' anywhere in the US.
https://www.experian.com/blogs/ask-e...n-every-state/ |
Appreciate
2
RickFLM411517.00 Taskmaster2472.00 |
12-21-2017, 07:30 AM | #52 | |
Lieutenant
602
Rep 534
Posts |
Quote:
Would need to make sure and ask my accountant but we deduct taxes from the capital gains we pay on our investment props.
__________________
|
|
Appreciate
1
Stronie326.00 |
12-21-2017, 07:31 AM | #53 | |
Lieutenant
602
Rep 534
Posts |
Quote:
__________________
|
|
Appreciate
0
|
12-21-2017, 07:32 AM | #54 |
Brigadier General
11517
Rep 4,857
Posts |
Did you look at the link he posted?
__________________
Current: 2018 SO/SS F83 ZCP
Gone: 2015 SO/SO F82 |
Appreciate
1
Taskmaster2472.00 |
12-21-2017, 07:35 AM | #55 | |
Brigadier General
1850
Rep 4,836
Posts |
Quote:
Based on this study Less than 4% of mortgages in the United States were over $500,000. http://nlihc.org/article/new-analysi...95-us-counties |
|
Appreciate
2
RickFLM411517.00 Taskmaster2472.00 |
12-21-2017, 07:38 AM | #56 |
Lieutenant
602
Rep 534
Posts |
Those are entire states and not coastal cities where a majority of people resides.
So yea i can buy a house in bumblefuck NY but how close will my closest neighbor be?
__________________
|
Appreciate
0
|
12-21-2017, 07:43 AM | #57 |
Brigadier General
11517
Rep 4,857
Posts |
Well, the change applies to new mortgages (not existing) and the amount is $750K not $500K. People with mortgages above $750K sure as hell better have the income to support servicing the new mortgage with or without a tax deduction for any excess over $750K, wherever they live. It isn't a tragedy.
__________________
Current: 2018 SO/SS F83 ZCP
Gone: 2015 SO/SO F82 |
Appreciate
0
|
12-21-2017, 07:54 AM | #58 | |
Captain
737
Rep 744
Posts |
Quote:
In South Carolina, and several other low-cost states, the answer is likely 'No', but in some areas of the country, the answer is 'Yes'. Painting everyone in the country with the same brush makes things simple, but is not really accurate. |
|
Appreciate
0
|
12-21-2017, 07:58 AM | #59 | ||
Major General
10581
Rep 8,880
Posts |
Quote:
__________________
2 x N54 -> 1 x N55 -> 1 x S55-> 1 x B58
|
||
Appreciate
2
Taskmaster2472.00 RickFLM411517.00 |
12-21-2017, 08:09 AM | #60 | |
Captain
737
Rep 744
Posts |
Quote:
Average mortgage in CA is $336,250. But housing prices in CA range from almost 'Mid-America' prices in rural areas, to prices where a 500k mortgage is not uncommon in others. Same with just about any other state. VA, MA, NY all have low-cost regions and areas with much higher housing costs. Specific example: the house I was born in is in Syosset NY, definitely a 'middle class' area. 1320sq ft. price $579,000. With anything less than 16% down, this is a 500k mortgage. For the same type of house in Fort Mill, SC, the going price is $134,000. Generalizations are easy, but misses many of the details. |
|
Appreciate
1
hooligan_G016523.00 |
12-21-2017, 08:11 AM | #61 | |
Colonel
1276
Rep 2,962
Posts |
Quote:
__________________
2015 335i Msport/6 JB4/EWG/E30/VRSF DP/ER CP/ VRSF Race Exhaust/ Injen Intake/Verde Axis 19x8.5/9.5 245/35/275/30 Conti Extreme CS/ H&R Sports / Motorsport Hardware Stud Conversion
|
|
Appreciate
1
Taskmaster2472.00 |
12-21-2017, 08:14 AM | #62 |
Banned
2472
Rep 9,004
Posts |
|
Appreciate
0
|
12-21-2017, 08:38 AM | #63 |
Brigadier General
9272
Rep 4,124
Posts |
Without diving into the weeds, most folks in coastal states were happily voting for Hillary who was going to raise taxes on the "wealthy", and the most common number thrown around was income of $250,000 or more. I know that would likely change through the legislative process but they were going see a tax increase and were generally ok with that. Now in the new tax bill, many are seeing a tax increase but suddenly it's a problem.
Assuming normal other expenses of car notes etc, you need income north of $250,000 to afford a $500,000 mortgage. And I am talking the mortgage, not the value of the home, assuming some money is put down. So bottom line is we can argue the merits of the tax cut and whether it is smart given the fiscal challenges the country faces but the folks complaining about increasing taxes under this bill were likely going to see higher taxes if Hillary had won... and supposedly they would have been OK with that.
__________________
2021 X3 M40i
1974 2002tii, Inka, 5 sp manual BMWCCA # 327475 |
Appreciate
0
|
12-21-2017, 08:44 AM | #65 |
Brigadier General
9272
Rep 4,124
Posts |
He means that while the "official" corporate tax rate was much higher, through various deductions the "effective" tax rate, what companies actually paid, was much lower....
__________________
2021 X3 M40i
1974 2002tii, Inka, 5 sp manual BMWCCA # 327475 |
Appreciate
1
hooligan_G016523.00 |
12-21-2017, 09:07 AM | #66 |
Colonel
1276
Rep 2,962
Posts |
I read a Communications Workers of American Union rep said AT&T promised them a $4000 wage increase but only gave them $1000 and that they had to fight for even that.
__________________
2015 335i Msport/6 JB4/EWG/E30/VRSF DP/ER CP/ VRSF Race Exhaust/ Injen Intake/Verde Axis 19x8.5/9.5 245/35/275/30 Conti Extreme CS/ H&R Sports / Motorsport Hardware Stud Conversion
|
Appreciate
0
|
Post Reply |
Bookmarks |
Thread Tools | Search this Thread |
|
|