Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
What if I have a piece of property that appreciates in value. I purchased it for 250k, it's worth 350k next year. I didn't sell it so I haven't gained any income yet, however I take out a low interest equity loan in the amount of 75k. I then live on the 75k.
What is the income?
What if my late father dies and leaves me a home, I have the property now, is that income?
What if I take my equity loan and invest it in the stock market, but instead of selling my shares I trade them?
This is the problem. People find ways around the one line and don't pay tax.
Next we'll be reading posts about great well trickle-down economics works.
Trickle down economics does work. We can discuss Microsoft, Apple, Exxon, Amazon, HP, Ford or any of thousands of cases where someone starts a company that provides thousands of jobs directly and indirectly along with tax revenue for infrastructure and social programs.
Status:
"We need America back!"
(set 18 hours ago)
Location: Suburban Dallas
52,687 posts, read 47,946,017 times
Reputation: 33840
This thread already has no basis or credibility given its misleading title, which reeks of left-wing desperation and attempted brainwashing. We just got through having a "president" who has spent his entire eight years shafting and screwing every possible American worker.
Give Trump a chance. I expect to see taxes going down in the next year, not up.
For those just working themselves up the economic ladder, the progressive tax and the deductions allowed give you more buying power.
The flat tax as here in NC costs the average tax payer more. More taxes and fees have gone up in NC. Sales, real estate, property, cell phone, land line, internet and even tax on labor expense have all gone up some as much as 100% to double what they were. Now to visit parks, state museums, and most public spaces there is some sort of fee.
You would think that with the lower wages paid here and the lower corporate rate (corporations have been given 2 tax cuts so are below what a human pays) we would have had massive job growth, instead we see below average job growth.
The GOP Governor tried to use the lower tax line in his campaign but people have figured out he was lying.
What if I have a piece of property that appreciates in value. I purchased it for 250k, it's worth 350k next year. I didn't sell it so I haven't gained any income yet, however I take out a low interest equity loan in the amount of 75k. I then live on the 75k.
What is the income?
What if my late father dies and leaves me a home, I have the property now, is that income?
What if I take my equity loan and invest it in the stock market, but instead of selling my shares I trade them?
This is the problem. People find ways around the one line and don't pay tax.
Only if you are going to continue creating them. If you can put money in the bank it's income.
This thread already has no basis or credibility given its misleading title, which reeks of left-wing desperation and attempted brainwashing. We just got through having a "president" who has spent his entire eight years shafting and screwing every possible American worker.
Give Trump a chance. I expect to see taxes going down in the next year, not up.
Minimum wage increases and raising the overtime exemption has screwed workers? How?
Trickle down economics does work. We can discuss Microsoft, Apple, Exxon, Amazon, HP, Ford or any of thousands of cases where someone starts a company that provides thousands of jobs directly and indirectly along with tax revenue for infrastructure and social programs.
That does work. It does NOT work in any form the where the government does it.
Only if you are going to continue creating them. If you can put money in the bank it's income.
I'm not creating them, these are problems built into the tax code. People would work their way around your definition quickly.
My equity loan is money in the bank, but it's just a loan.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
