This is the kind of smart discussion I need to hear more of
invite response
2020 Apr 18, 9:05pm 11,690 views 56 comments
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51
HeadSet
2020 Apr 22, 7:36am
HeadSet
2020 Apr 22, 7:36am
I max out the SALT deduction with state income taxes alone. I love charity, but I'm not donating 5 digits to be able to itemize.
If you max out the SALT, aren't you itemizing anyway? And maxing out with SALT alone implies that you paid over $24k in state income tax. Then you have a local income tax as well? I presume you are not a fan of any new local bond issues.
never really wanted some McMansion, so our mortgage interest is low
Good choice, saving on interest beats paying on interest just because you get a 25-33% tax reduction on amount of interest paid.
If you max out the SALT, aren't you itemizing anyway? And maxing out with SALT alone implies that you paid over $24k in state income tax. Then you have a local income tax as well? I presume you are not a fan of any new local bond issues.
never really wanted some McMansion, so our mortgage interest is low
Good choice, saving on interest beats paying on interest just because you get a 25-33% tax reduction on amount of interest paid.
52
WookieMan
2020 Apr 22, 7:58am
WookieMan
2020 Apr 22, 7:58am
HeadSet says
Caps at $10k under Trump's tax plan. Was done to fuck over high tax blue states, which I think is fine. So between property tax and state income tax I'm at about $15-16k with the state income tax and property tax. Only $10k could be deducted if you itemize over the $24k standard. Standard deduction is $24k as you state. Besides mortgage interest it's not particularly easy or worth it to get above $14k additional spending to start itemizing, especially in my situation with a cheap mortgage. I know it's easier in coastal areas, but I got my house for $85k. So my mortgage interest is dick.
I'm in a weird area where the tax cuts weren't a benefit or a loss. They basically just stayed the same, even with the tax bracket change/reduction. Maybe I'll buy an expensive house to amp up the mortgage interest (hell's no).
If you max out the SALT, aren't you itemizing anyway? And maxing out with SALT alone implies that you paid over $24k in state income tax. Then you have a local income tax as well? I presume you are not a fan of any new local bond issues.
Caps at $10k under Trump's tax plan. Was done to fuck over high tax blue states, which I think is fine. So between property tax and state income tax I'm at about $15-16k with the state income tax and property tax. Only $10k could be deducted if you itemize over the $24k standard. Standard deduction is $24k as you state. Besides mortgage interest it's not particularly easy or worth it to get above $14k additional spending to start itemizing, especially in my situation with a cheap mortgage. I know it's easier in coastal areas, but I got my house for $85k. So my mortgage interest is dick.
I'm in a weird area where the tax cuts weren't a benefit or a loss. They basically just stayed the same, even with the tax bracket change/reduction. Maybe I'll buy an expensive house to amp up the mortgage interest (hell's no).
53
Shaman
2020 Apr 22, 10:56am
Shaman
2020 Apr 22, 10:56am
https://www.cnbc.com/2020/04/22/no-lockdown-in-sweden-but-stockholm-could-see-herd-immunity-in-weeks.html
Sweden didn’t crater its economy and is still about done with Covid. Herd immunity in weeks.
Sweden didn’t crater its economy and is still about done with Covid. Herd immunity in weeks.
54
WookieMan
2020 Apr 22, 10:57am
WookieMan
2020 Apr 22, 10:57am
Shaman says
"But your 'expert' isn't as good as my 'expert' you fool" Counting down 3. 2. 1....
https://www.cnbc.com/2020/04/22/no-lockdown-in-sweden-but-stockholm-could-see-herd-immunity-in-weeks.html
Sweden didn’t crater its economy and is still about done with Covid. Herd immunity in weeks.
"But your 'expert' isn't as good as my 'expert' you fool" Counting down 3. 2. 1....
55
Shaman
2020 Apr 22, 11:00am
Shaman
2020 Apr 22, 11:00am
ThreeBays says
Is this the same “science” that brought us all the faulty and completely inaccurate information about
1)mask wearing
2)whether the disease was transmissible between humans
3)creating tests that didn’t work
4)advocating lockdowns as the only solution and proposing months and even years of lockdowns, meanwhile Sweden did zero lockdowns and had comparable mortality rates and almost achieved herd immunity already?
You Lefties like to pick “science” that you agree with and discount the actual scientific method. How many genders are there again?
Bullshit. It's the science hating rightists who think science is a narrative
Is this the same “science” that brought us all the faulty and completely inaccurate information about
1)mask wearing
2)whether the disease was transmissible between humans
3)creating tests that didn’t work
4)advocating lockdowns as the only solution and proposing months and even years of lockdowns, meanwhile Sweden did zero lockdowns and had comparable mortality rates and almost achieved herd immunity already?
You Lefties like to pick “science” that you agree with and discount the actual scientific method. How many genders are there again?
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Turns out he has a much more complex, nuanced and balanced view that any right wing Trump Cuck is going to be able to relate to.
But my point, why can't we hear from more intelligent people that actually have the background and skills to look at this in a productive problems solving way.
(instead of the "how can the maga people win with this " perspective so predominant around here)
www.youtube.com/embed/VK0Wtjh3HVA?t=14