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Old 07-21-2008, 08:12 PM
 
Location: Colorado Springs, CO
2,220 posts, read 3,309,691 times
Reputation: 1622
Quote:
Originally Posted by seethelight View Post
Exactly what is it that you have against Birkenstocks? Have they ruined your life in some way? And what is it that you have against Prius owners... perhaps a bit pompous in your condemnation of people that want to live a simpler life, getting great gas mileage and GOD FORBID, help the air quality on this planet of OURS. I own a hybrid, not a Prius, and currently get 39 mpg. I have more faith in Toyota to come up with a battery fix years down the road than I do in your prophecies.
I own a diesel car that gets 45 mpg. I win.

Quote:
Originally Posted by seethelight View Post
You assume (you know what they say about assume) that battery replacement will be $3500. Haven't you seen the prices of all high tech equipment, computers, hard drives, in fact everything that has to do with technology coming way DOWN year by year.
I assumed nothing. It is you who is doing the assuming here. My data came straight from a Toyota dealer when I was looking at the technology as an option.

And this has nothing to do with the price of technology. This will be much more driven by the costs of the raw materials in batteries...lead, copper, etc, and as this fad takes off, the increased demand is likely to drive up costs for all those materials dramatically.

Quote:
Originally Posted by seethelight View Post
So please get over your phobias about shoes and cars that are good for the planet.
Shoes that are good for the planet? YGTBSM, dude. But you've made my point...I have a thing against Birkenstock-wearing clowns becuase they tend to take themselves entirely too seriously. Shoes that are good for the planet...sheeesh.
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Old 07-21-2008, 09:01 PM
Status: "Fall is in the air-too soon!" (set 29 days ago)
 
Location: Foot of the Rockies
68,683 posts, read 57,401,479 times
Reputation: 19454
Quote:
Originally Posted by Bob from down south View Post
As for the tax deduction (it's not a write off), it's generally not advantageous to pay the bank $1 to avoid $0.15 or less in taxes. But the real estate propagandists have done a good job in convincing people that can't do accounting and math that they are winners by going in debt up to their eyeballs to keep the bankers in the life they have become accustomed to.

I sat down with a friend who had been drinking the bankers' KoolAid and did a cash flow analysis for him to show him that his tax deduction, when counterbalanced with interest expense, wasn't nearly the good deal he though it was. And Katiana, if you're in the last 9 years of your mortgage, the feds aren't offsetting nearly as much of your housing payment as you probably think they are.
It isn't a 15 cent reduction, it's about 35 cents on the dollar, a little more than 1/3. I'll take it where I can get it. It may be that our interest payments aren't as much of our payment as they used to be, but every little bit helps.
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Old 07-21-2008, 09:21 PM
 
Location: Frederick, MD
296 posts, read 556,885 times
Reputation: 416
Quote:
Originally Posted by Bob from down south View Post
I own a diesel car that gets 45 mpg. I win.



I assumed nothing. It is you who is doing the assuming here. My data came straight from a Toyota dealer when I was looking at the technology as an option.

And this has nothing to do with the price of technology. This will be much more driven by the costs of the raw materials in batteries...lead, copper, etc, and as this fad takes off, the increased demand is likely to drive up costs for all those materials dramatically.




Shoes that are good for the planet? YGTBSM, dude. But you've made my point...I have a thing against Birkenstock-wearing clowns becuase they tend to take themselves entirely too seriously. Shoes that are good for the planet...sheeesh.
It's actually cars that are good for the planet, but I just realized where you are from, COS, that explains everything. I guess in your mind it's impossible that you take yourself too seriously. Have you ever heard of the mirror theory, whereby whatever you see in others is a reflection of yourself?
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Old 07-21-2008, 09:30 PM
 
11,728 posts, read 23,735,966 times
Reputation: 7094
Quote:
Originally Posted by Katiana View Post
It isn't a 15 cent reduction, it's about 35 cents on the dollar, a little more than 1/3. I'll take it where I can get it. It may be that our interest payments aren't as much of our payment as they used to be, but every little bit helps.
Its especially nice considering the tax deduction for rent is ZERO. As long as the rent vs. buy monthly cost is about the same, the mortgage interest tax deduction is a benefit. Where it doesn't earn its keep is in places like California where the cost of buying is 2-3x the cost of renting the same house.
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Old 07-21-2008, 09:47 PM
Status: "Fall is in the air-too soon!" (set 29 days ago)
 
Location: Foot of the Rockies
68,683 posts, read 57,401,479 times
Reputation: 19454
It's interesting, Bob, that first you say the tax deduction is only worth $.15 when it is actually worth $.35, then you say, "you're not getting much of one with only 9 years to go".
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Old 07-21-2008, 10:02 PM
 
Location: Colorado Springs, CO
2,220 posts, read 3,309,691 times
Reputation: 1622
Quote:
Originally Posted by Katiana View Post
It isn't a 15 cent reduction, it's about 35 cents on the dollar, a little more than 1/3. I'll take it where I can get it. It may be that our interest payments aren't as much of our payment as they used to be, but every little bit helps.
Oh, but it is NOT 35%. You have a standard deduction that you can take in absence of a mortgage deduction. To determine the actual net tax benefit that arises from the mortgage interest deduction, you have to determine the savings above the standard deduction. It comes out to far less than 35%. Ask an accountant if you don't believe me.

Last edited by Bob from down south; 07-21-2008 at 10:11 PM..
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Old 07-21-2008, 10:05 PM
 
Location: southern california
48,957 posts, read 45,204,894 times
Reputation: 39943
the new marie antoinette carriage, SUV.
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Old 07-21-2008, 10:06 PM
 
11,728 posts, read 23,735,966 times
Reputation: 7094
Quote:
Originally Posted by Bob from down south View Post
Oh, but it is NOT. You have a standard deduction that you can take in absence of a mortgage deduction. To determine the actual tax benefit that arises from the mortgage interest deduction, you have to determine the savings above the standard deduction. It comes out to far less than 35%. Ask an accountant if you don't believe me.
But once you're eligible to file a schedule A, there's other deductions you can take that you'd lose if you took the standard deduction. Everyone's case is different.
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Old 07-21-2008, 10:09 PM
 
Location: Colorado Springs, CO
2,220 posts, read 3,309,691 times
Reputation: 1622
Quote:
Originally Posted by seethelight View Post
It's actually cars that are good for the planet, but I just realized where you are from, COS, that explains everything. I guess in your mind it's impossible that you take yourself too seriously. Have you ever heard of the mirror theory, whereby whatever you see in others is a reflection of yourself?
Nobody but you said that cars are good for the planet. But I'd say it's a fair bet that you still own one.

What I see in others is what they show me...
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Old 07-21-2008, 10:15 PM
 
Location: Colorado Springs, CO
2,220 posts, read 3,309,691 times
Reputation: 1622
Quote:
Originally Posted by EscapeCalifornia View Post
But once you're eligible to file a schedule A, there's other deductions you can take that you'd lose if you took the standard deduction. Everyone's case is different.
Granted, but construct me a hypothetical case where the net tax benefit is 35%...and don't forget to apply the AMT when you're through.

Sorry...not buying it.
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