vladykins @ 4/12/2017 15:55

Mittens @ 4/12/2017 16:39 I think the calculator was right Vlady - at least for this next year. I don't make that much money lol I agree with all of your analysis, though. They want to say it will stimulate the economy, but I am highly skeptical. Do you own your home?

No I do not

Dadd @ 4/12/2017 22:07

I own a home ...

Not for long. Yeehaw

Mittens @ 4/12/2017 17:08

vladykins @ 4/12/2017 15:55 Mittens @ 4/12/2017 16:39 I think the calculator was right Vlady - at least for this next year. I don't make that much money lol I agree with all of your analysis, though. They want to say it will stimulate the economy, but I am highly skeptical. Do you own your home? No I do not

Plans to eventually own one? If so, you have to go big.

Dsssssss @ 2/12/2017 15:05

Welcome back Darkus!

I forgot my password.

Darkus Black @ 4/12/2017 22:29

Dsssssss @ 2/12/2017 15:05 Welcome back Darkus! I forgot my password.

I didn’t forget. Someone changed it. All sorted now.

vladykins @ 4/12/2017 16:28

Mittens @ 4/12/2017 17:08 vladykins @ 4/12/2017 15:55 Mittens @ 4/12/2017 16:39 I think the calculator was right Vlady - at least for this next year. I don't make that much money lol I agree with all of your analysis, though. They want to say it will stimulate the economy, but I am highly skeptical. Do you own your home? No I do not Plans to eventually own one? If so, you have to go big.

Yes I would like to at some point in 2018 but I’ll refer you above where I said I don’t make very much money haha

vladykins @ 4/12/2017 17:28

Mittens @ 4/12/2017 17:08 vladykins @ 4/12/2017 15:55 Mittens @ 4/12/2017 16:39 I think the calculator was right Vlady - at least for this next year. I don't make that much money lol I agree with all of your analysis, though. They want to say it will stimulate the economy, but I am highly skeptical. Do you own your home? No I do not Plans to eventually own one? If so, you have to go big.

???

Mittens @ 4/12/2017 22:50

vladykins @ 4/12/2017 16:28 Mittens @ 4/12/2017 17:08 vladykins @ 4/12/2017 15:55 Mittens @ 4/12/2017 16:39 I think the calculator was right Vlady - at least for this next year. I don't make that much money lol I agree with all of your analysis, though. They want to say it will stimulate the economy, but I am highly skeptical. Do you own your home? No I do not Plans to eventually own one? If so, you have to go big. Yes I would like to at some point in 2018 but I’ll refer you above where I said I don’t make very much money haha

Why don’t you change that and make more money?

Dadd @ 4/12/2017 17:57

vladykins @ 4/12/2017 17:28 Mittens @ 4/12/2017 17:08 vladykins @ 4/12/2017 15:55 Mittens @ 4/12/2017 16:39 I think the calculator was right Vlady - at least for this next year. I don't make that much money lol I agree with all of your analysis, though. They want to say it will stimulate the economy, but I am highly skeptical. Do you own your home? No I do not Plans to eventually own one? If so, you have to go big. ???

The mortgage deduction only works if you are itemizing deductions, otherwise having a house doesn't give you any benefit (if you don't have enough deductions to be higher than the standard deduction, then you take the standard). If you are married right now, the standard deduction is $13k. Given the current situation of mortgage interest, state and local taxes (like property tax), medical, and charity, it's not hard to get above that $13k in a year.

Tax reform: Standard deduction moves up to $24,400. The state and local tax deduction goes bye bye, medical expenses and charity are limited, and what you end up with is you need to have a super expensive house or a really crappy interest rate to get about $24,400 to make itemizing worth it, so essentially the benefit of the mortgage interest deduction might as well have gotten axed altogether, because it will be worthless.

More so, being a tax deduction, it reduces taxable income, not tax directly. So, if you are in a higher tax bracket, every dollar you reduce your income gives you a benefit matching your current marginal tax rate- which is why I noted that a dollar of benefit nets someone in a low tax bracket 10 cents while a rich person is getting 39.6 cents, even if the both of them have *exactly* the same house. It's why I've said that it should be converted to a refundable tax credit instead of a deduction- you get a credit for tax paid (so a dollar credit = $1 no matter who takes it) and, being refundable, if you have no tax liability you get cash back. This will incentivize home ownership across the board as opposed to only incentivizing the rich (and encouraging larger, more expensive homes).

Darkus Black @ 4/12/2017 16:58

Mittens @ 4/12/2017 22:50 vladykins @ 4/12/2017 16:28 Mittens @ 4/12/2017 17:08 vladykins @ 4/12/2017 15:55 Mittens @ 4/12/2017 16:39 I think the calculator was right Vlady - at least for this next year. I don't make that much money lol I agree with all of your analysis, though. They want to say it will stimulate the economy, but I am highly skeptical. Do you own your home? No I do not Plans to eventually own one? If so, you have to go big. Yes I would like to at some point in 2018 but I’ll refer you above where I said I don’t make very much money haha Why don’t you change that and make more money?

Because money isn't my main driver and I like what I do, so not looking to make a big change. Plus I'm young, so plenty of time to make $.

Darkus Black @ 4/12/2017 17:46

Darkus Black @ 4/12/2017 22:29 Dsssssss @ 2/12/2017 15:05 Welcome back Darkus! I forgot my password. I didn’t forget. Someone changed it. All sorted now.

Oh, brilliant. A near thing, what.

https://theintercept.com/2017/12/04/trump-white-house-weighing-plans-for-private-spies-to-counter-deep-state-enemies/

How could this possibly go wrong?

Got to keep defending your rights or you lose them.

https://www.lgbtqnation.com/2017/12/supreme-court-begun-undermining-marriage-equality/#.WiWEzP2eGnk.facebook

Mittens @ 5/12/2017 0:12

Darkus Black @ 4/12/2017 16:58 Mittens @ 4/12/2017 22:50 vladykins @ 4/12/2017 16:28 Mittens @ 4/12/2017 17:08 vladykins @ 4/12/2017 15:55 Mittens @ 4/12/2017 16:39 I think the calculator was right Vlady - at least for this next year. I don't make that much money lol I agree with all of your analysis, though. They want to say it will stimulate the economy, but I am highly skeptical. Do you own your home? No I do not Plans to eventually own one? If so, you have to go big. Yes I would like to at some point in 2018 but I’ll refer you above where I said I don’t make very much money haha Why don’t you change that and make more money? Because money isn't my main driver and I like what I do, so not looking to make a big change. Plus I'm young, so plenty of time to make $.

I thought you were a GLBer!

Dyl @ 5/12/2017 10:28

Mittens @ 5/12/2017 0:12 Because money isn't my main driver and I like what I do, so not looking to make a big change. Plus I'm young, so plenty of time to make $. I thought you were a GLBer!

Not all of us were old. I think Ryan Grant is forever 14 years old.