Realtors admit mortgage deduction subsidizes them
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1   WineHorror1   ignore (0)   2017 Nov 13, 6:35pm   ↑ like (0)   ↓ dislike (0)     quote      

Don't you think its time for renters to stop getting the shaft?
2   WookieMan   ignore (0)   2017 Nov 13, 7:39pm   ↑ like (0)   ↓ dislike (0)     quote      

Check this email out that I received through work related activities. Bold tags added back in from the original.

Remind your colleagues to take one minute today to ask Congress to protect homeowners while considering reforms to the U.S. tax code.

Why?

Under the current proposal, millions of homeowners will see a tax increase.
If the bill is enacted, we anticipate a 10% drop in home values.
Homeownership tax incentives will be beyond the reach of more than 90% of American families.
It will cost our children and grandchildren $1.5 trillion in new federal debt.
Homeowners in all 50 states would be double-taxed on the money they pay for state/local taxes.
If you buy a home and then have to move within 5 years, you could be hit with a big tax bill under this plan.

All this from a bill that is supposed to improve the current system. This is a clear and present danger to American homeownership.


I'm in agreement with the state and local property tax line. This messes with the high income renter as well in some cases. Indifferent about the cap gains ramifications as that stinks of the typical realtor "prices always go up" shit. You ain't getting hit with a big tax bill if your values went down. Everything else is a little hysterical.

I don't get realtors. People want to own their own homes. I don't think it's necessarily a logical decision about tax consequences. They just want a fucking house they can do what they want to it. Hell many people that own a home don't even itemize, yet hype to all their buddies all the tax benefits to owning a home. I've heard it from a few good friends and then I just plant my face in my hand and walk away. Need better education about this shit in high school in my opinion.

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