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Old 06-22-2011, 02:43 PM
 
Location: Las Flores, Orange County, CA
26,346 posts, read 83,000,765 times
Reputation: 17515

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Quote:
Originally Posted by mysticaltyger View Post
This is the kind of attitude that is killing California and the US as a whole. It's the "I want mine. Screw everyone else" mentality that is prevalent from the guy who bought a house he knew he couldn't afford, to the crazy bankers who lended the money, to the greedy unions, to the people who think it's no big deal to have kids out of wedlock and live off welfare, to the insanely paid CEOs, etc. Everyone seems to notice greed in other people but not in themselves. Will we ever stop to ask ourselves "How's this kind of thinking working for us?".
Sounds like two different things. Asset protection versus theft.
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Old 06-22-2011, 03:07 PM
 
2,311 posts, read 2,888,416 times
Reputation: 1217
Quote:
Originally Posted by Charles View Post
Sounds like two different things. Asset protection versus theft.
Asset protection is provided using another man's money to artificially keep an asset priced at a higher value than what the market desires.. that is theft to me. Not surprisingly, some self-interested home owner who only cares about themselves doesn't see it this way and feels using society's tax dollars to prop up something that is harmful to the broader society is a great thing.. Because hey, it doesn't just preserve my asset's value .. It makes it profitable for me...

'I've got mine.. and that bit of tax dollars contributed by others.. yeah, use that to make sure I get more'
..
Socialism is wonderful until you run out of someone else's money...
California home sales fall 13.3% in May
With homebuyer tax credits having expired and little job growth..

http://green.autoblog.com/2011/06/21...s-out-of-cash/
"California electric vehicle rebate program runs out of cash"

Can't fund schools and essentials ? No problem, there is still money to help fund some wealthy person (who already has enough cash) to buy a $40k car :
"Next fiscal year, CARB hopes to reignite the CVRP by dumping $17 million in the program"

Outright hilarious. No matter.. you can only manipulate the market for so long...
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Old 06-22-2011, 05:26 PM
 
Location: Las Flores, Orange County, CA
26,346 posts, read 83,000,765 times
Reputation: 17515
Quote:
Originally Posted by yeahthatguy View Post
Asset protection is provided using another man's money to artificially keep an asset priced at a higher value than what the market desires.. that is theft to me.
Is this happening?
How?
In California?
In Iowa?
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Old 06-22-2011, 06:35 PM
 
4,182 posts, read 5,799,810 times
Reputation: 1720
Quote:
Originally Posted by mysticaltyger View Post
This is the kind of attitude that is killing California and the US as a whole. It's the "I want mine. Screw everyone else" mentality that is prevalent from the guy who bought a house he knew he couldn't afford, to the crazy bankers who lended the money, to the greedy unions, to the people who think it's no big deal to have kids out of wedlock and live off welfare, to the insanely paid CEOs, etc. Everyone seems to notice greed in other people but not in themselves. Will we ever stop to ask ourselves "How's this kind of thinking working for us?".
Is it better to have high property values or low values? As an owner, I'd rather have high values. Why should it be otherwise? It's not greed. It's about getting rewarded for the investment. Is there anything wrong with that? Don't you live in a capitalist country?

I'm not a potential buyer, my house is paid for. I don't owe you or the bank anything. I've paid my dues. I could care less what the appraisal value is. But if it's been appreciating, I can't really complain. Is there something I'm missing?
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Old 06-22-2011, 06:42 PM
 
Location: Boca Raton, FL
711 posts, read 1,629,944 times
Reputation: 349
Quote:
Originally Posted by user_id View Post
Furthermore, someone with a California taxable income of $44,814 would NOT pay 9.3% on any income, the 9.3% rate only applies to income above $44,814.
Your point? What the heck is California doing charging its top tax rate on only $45k AGI? If you're going to have a beggar-thy-neighbor tax system, at least pay lip service to the idea of socking it to the rich, not the middle class.
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Old 06-22-2011, 08:07 PM
 
Location: Conejo Valley, CA
12,476 posts, read 17,446,881 times
Reputation: 4321
Quote:
Originally Posted by randian View Post
Your point? What the heck is California doing charging its top tax rate on only $45k AGI? If you're going to have a beggar-thy-neighbor tax system, at least pay lip service to the idea of socking it to the rich, not the middle class.
The point? The point is that the vast majority are paying 9.3% on only a small percentage of their income.

Also, its not $45k AGI, rather $45k after you deduct your California deductions from your AGI. This is not to mention California has tax credits as well.

The middle-class in California isn't paying a lot in income tax, income taxes in California are below average until you start to get into the $70k range for individuals and around $120k for joint returns.
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Old 06-22-2011, 08:20 PM
 
2,311 posts, read 2,888,416 times
Reputation: 1217
Quote:
Originally Posted by Charles View Post
Is this happening?
How?
In California?
In Iowa?
State :
Tax revenue in
* Bailouts for homeowners out
* First time home buyer credits out

Federal :
Tax revenue in
* Bailouts for homeowners out
* First time home buyer credits out
* Fannie/Freedie Mae - Subsidized home mortgages
* Principal forgiveness
* whole slew of handout/bailout programs to keep taxes high....

Last edited by yeahthatguy; 06-22-2011 at 08:30 PM..
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Old 06-22-2011, 08:22 PM
 
2,311 posts, read 2,888,416 times
Reputation: 1217
Quote:
Originally Posted by ndfmnlf View Post
Hey loser. You don't have diddly squat. You can't afford to live in CA. Get lost.
Hey buddy.. reported for name calling.. Grow up
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Old 06-22-2011, 08:25 PM
 
2,311 posts, read 2,888,416 times
Reputation: 1217
Quote:
Originally Posted by ndfmnlf View Post
Is it better to have high property values or low values? As an owner, I'd rather have high values. Why should it be otherwise? It's not greed. It's about getting rewarded for the investment. Is there anything wrong with that? Don't you live in a capitalist country?

I'm not a potential buyer, my house is paid for. I don't owe you or the bank anything. I've paid my dues. I could care less what the appraisal value is. But if it's been appreciating, I can't really complain. Is there something I'm missing?
You obviously have no understanding of economics..
Further, i don't even have to provide any comment as to your views...
Your words speak for itself.
Also, I don't know who lied to you but a home is not an investment...
It's an asset that appreciates typically with inflation.
Your benefit was in not paying rent your whole life and building principal.
Beyond that, the market owes you nothing.

No one is complaining, you're the one getting irate ...
I'm fine man.. LOL, my capital is liquid .. My investments yielding double digits .. I've got not a thing to complain about...

I even have some real estate related investments ... Check it out .. It's a REIT (AGNC) :
http://www.online-investing-secrets.com/dividendstocks/dividendcharts/Historic-Dividend-Yield-Chart-For-American%20Capital%20Agency-AGNC-6-17-2011.jpg (broken link)
http://www.online-investing-secrets.com/dividendstocks/dividendcharts/Dividend-Yield-Price-Chart-For-American%20Capital%20Agency-AGNC-6-17-2011.jpg (broken link)
<- this is what you call an investment.. your house is not one...

How's that investment of yours doing? :


Rage on man.. LOL

Last edited by yeahthatguy; 06-22-2011 at 08:34 PM..
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Old 06-22-2011, 08:44 PM
 
Location: San Luis Obispo and Santa Barbara Counties
6,390 posts, read 7,659,880 times
Reputation: 2622
Quote:
You obviously have no understanding of economics..
Further, i don't even have to provide any comment as to your views...
Your words speak for itself.
Also, I don't know who lied to you but a home is not an investment...
It's an asset that appreciates typically with inflation.
Your benefit was in not paying rent your whole life and building principal.
Beyond that, the market owes you nothing.

No one is complaining, you're the one getting irate ...
I'm fine man.. LOL, my capital is liquid .. My investments yielding double digits .. I've got not a thing to complain about...

I even have some real estate related investments ... Check it out .. It's a REIT (AGNC) :
He shore does lack to puff imself up, a sure sign of a person secure about himself, eh?

He, bud, there are no Uhauls on the road to heaven, or hell, if you check out tomorrow, you ain't takin nuthin with you.
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