patrick.net
An Antidote to Corporate Media
1,265,511 comments by 15,133 users - Ceffer, krc, mell, REpro online now
Fleeing California is Not going to be an option for homeowners
invite response
2021 Apr 26, 9:50pm 2,649 views 60 comments
« First « Previous Comments 58 - 60 of 60 Search these comments
58
Maga_Chaos_Monkey
2021 Apr 28, 9:03am
Maga_Chaos_Monkey
2021 Apr 28, 9:03am
WookieMan says
For people who truly live there yes. Hey if you can pull it off I think that's awesome! I'm too chicken to try something like that. Instead I tend to overestimate my taxes if there is any confusion (by single digits). Might be why my tax refund is delayed. I noticed they are paying me back $1.26 more than I asked for / calculated haha.
I've been watching some Nomad Capitalist vids lately. What the guy offers is tempting. I'm not that rich yet though.
I need to look into what the federal tax savings is. So as I've said in other comments, I'm talking out my ass a bit. But I do know it's a real thing to save on Fed taxes "living" in PR. High income earners especially.
For people who truly live there yes. Hey if you can pull it off I think that's awesome! I'm too chicken to try something like that. Instead I tend to overestimate my taxes if there is any confusion (by single digits). Might be why my tax refund is delayed. I noticed they are paying me back $1.26 more than I asked for / calculated haha.
I've been watching some Nomad Capitalist vids lately. What the guy offers is tempting. I'm not that rich yet though.
59
WookieMan
2021 Apr 28, 9:20am
WookieMan
2021 Apr 28, 9:20am
Robert Sproul says
Never have felt unsafe there. White privilege/tourist maybe? I don't know. 93 people have been killed in Englewood, Chicago year to date. I used to work in that neighborhood occasionally and a bunch of other ghettos in Chicago. Unless my math is wrong, Englewood is about 306 per 100k people (30k population). Either way that's 4 months. Close to 300 people will be killed there this year, probably more as summer hasn't hit yet.
Here's the total for 2020 for all of USVI: http://www.virginislandsdailynews.com/news/2020-homicides/article_22a93566-6623-5a6e-b0eb-f18fb8275a22.html
That's really a huge nothing burger. And I'd guess most of it is domestic violence as well. Just seems high per capita, which it obviously is, but it's no Englewood and I've gone there hundreds of times. Puerto Rico is the main target as Chicago will always have non-stops to the island. St. Thomas/John would be nicer though as a beach lover.
The 10 countries with the highest homicide rates:
1-El Salvador (82.84 per 100k people)
2-Honduras (56.52 per 100k people)
3-Venezuela (56.33 per 100k people)
4-United States Virgin Islands (49.26 per 100k people)
Never have felt unsafe there. White privilege/tourist maybe? I don't know. 93 people have been killed in Englewood, Chicago year to date. I used to work in that neighborhood occasionally and a bunch of other ghettos in Chicago. Unless my math is wrong, Englewood is about 306 per 100k people (30k population). Either way that's 4 months. Close to 300 people will be killed there this year, probably more as summer hasn't hit yet.
Here's the total for 2020 for all of USVI: http://www.virginislandsdailynews.com/news/2020-homicides/article_22a93566-6623-5a6e-b0eb-f18fb8275a22.html
In 2020, the Virgin Islands recorded 49 homicides, including 27 on St. Croix, 20 on St. Thomas and two on St. John. Two of the homicides were vehicular in nature.
That's really a huge nothing burger. And I'd guess most of it is domestic violence as well. Just seems high per capita, which it obviously is, but it's no Englewood and I've gone there hundreds of times. Puerto Rico is the main target as Chicago will always have non-stops to the island. St. Thomas/John would be nicer though as a beach lover.
60
B.A.C.A.H.
2021 Apr 28, 12:08pm
B.A.C.A.H.
2021 Apr 28, 12:08pm
A thought experiment.
In order to have such a huge capital gain, it means a relatively low cost basis. That means for most cases, a long-ago purchase with Proposition 13 assessment locked in.
All those years, all those savings on Property Tax, compounded if invested. (Indirectly) subsidized by Tax Donkeys who made more recent purchases at more recent prices with more recent assessments. This would include some renters who paid it through some landlords.
Now a taxable windfall capital gain. What goes around, comes around.
In order to have such a huge capital gain, it means a relatively low cost basis. That means for most cases, a long-ago purchase with Proposition 13 assessment locked in.
All those years, all those savings on Property Tax, compounded if invested. (Indirectly) subsidized by Tax Donkeys who made more recent purchases at more recent prices with more recent assessments. This would include some renters who paid it through some landlords.
Now a taxable windfall capital gain. What goes around, comes around.
« First « Previous Comments 58 - 60 of 60 Search these comments
Let's say you are married. That way you get a $500k exclusion on capital gains when you sell your house.
If you bought the house for like $500k way back when, and it's worth $2.5 million now you are looking at paying about $1.1 million in capital gains tax just to get rid of your crap shack.
This is going to lock people into place even better than Prop 13.
There is no escape from California.
There's been rumors floating around the media that he wants the tax retroactive. Pity the ones that tried to escape this year, if that flies.