Federal Income Tax Reform Proposal - Effect on Californians (exemption, place to live)

[OC4life]

Originally Posted by tootaloo11

More idiocy. Do you realize that people considered Middle Class across the country typically make less than $150k. Pew Research puts that group in a range of $40k to $122k. The Median Home price is in the low $200k range. So Einstein, please tell everyone who in that group would have that type of mortgage deduction to hit that cap and state income tax that high?!

Did you even read the comment you replied to? It's talking about across the country. And more people across the country were certainly helped by the tax cut. That's not even debatable.

You needed to make a new account just for that?

I care about my personal tax situation. Why would I care about poor people making 50K in Nebraska with their 200K shack. I don't, Einstein.

[OC4life]

Originally Posted by tootaloo11

Of course you don't. And you also don't know how to read, do you moron?

"The tax laws HELPED people keep more of their money nationally". That's what you quoted Einstein.

Read the forum TOS.

Nothing about my post in this thread is incorrect. If you don't like it, move on. Though I doubt you are going to be around much longer.

[CA4Now]

Originally Posted by CaliRestoration

Faaaaake news.

The tax laws HELPED people keep more of their money nationally.

Sorry, Cali; this thread is about how the tax law has affected those who reside in California, where it's a lot more expensive to live than in many other states.

[CaliRestoration]

Originally Posted by CA4Now

Sorry, Cali; this thread is about how the tax law has affected those who reside in California, where it's a lot more expensive to live than in many other states.

Then you need to place the blame where it should be placed: California Democrats who have given you a higher tax burden and COL.

Trumps tax cuts have zero to do with that.

[CaliRestoration]

Originally Posted by OC4life

People with a high mortgage interest deduction ( now capped at 750k instead of 1m ) and high state income taxes got smacked in the face.

How is that the problem of Trump's tax cuts?

Seems like you need to write letters to the California Dems who run the state.

Anyone who is taking on a $750,000 mortgage and worrying about SALT deductions, seriously needs to reevaluate their financial health.

[alliance]

Originally Posted by CaliRestoration

How is that the problem of Trump's tax cuts?

Seems like you need to write letters to the California Dems who run the state.

Anyone who is taking on a $750,000 mortgage and worrying about SALT deductions, seriously needs to reevaluate their financial health.

Also, from the perspective of other states that don’t pay state income taxes (like Texas) they previously ended up paying significantly more federal taxes than states like California. Now everyone in high tax states can happily pay their fair share. I heard from Obama that people would be happy to do this.

If you can’t handle this arrangement then look to the state, not the federal government, as the issue. The playing field has simply been leveled. It’s now more “fair.”

As an aside, once newsom kills prop 13, and everyone’s property taxes skyrocket, is that going to be trumps fault too? Man, that sure will be a kick in the nuts that I’m looking forward to. And yes, I have two California properties with tax bills that will double to triple, but it’s worth it just seeing the fallout from you idiots who made this happen. The best part is that the blame will be put onto everyone except who is actually responsible.

[OC4life]

Originally Posted by CaliRestoration

How is that the problem of Trump's tax cuts?

Seems like you need to write letters to the California Dems who run the state.

Anyone who is taking on a $750,000 mortgage and worrying about SALT deductions, seriously needs to reevaluate their financial health.

You have a lower cost of capital than a fixed rate 30 year home mortgage whose interest is tax deductible on a personal return? Please elaborate.

California Dems didn't change the Fed Income Tax schedule, exemptions, and deductions. I get why Trump did it to screw over rich people in CA, Ny, Nj, Ma. That doesn't mean I have to like it, nor is it in my best interest. However, the fact that CA congressional Republicans went along with it is a big part of the reasons they just got completed wiped out in OC.

[OC4life]

Originally Posted by alliance

Also, from the perspective of other states that don’t pay state income taxes (like Texas) they previously ended up paying significantly more federal taxes than states like California. Now everyone in high tax states can happily pay their fair share. I heard from Obama that people would be happy to do this.

If you can’t handle this arrangement then look to the state, not the federal government, as the issue. The playing field has simply been leveled. It’s now more “fair.”

As an aside, once newsom kills prop 13, and everyone’s property taxes skyrocket, is that going to be trumps fault too? Man, that sure will be a kick in the nuts that I’m looking forward to. And yes, I have two California properties with tax bills that will double to triple, but it’s worth it just seeing the fallout from you idiots who made this happen. The best part is that the blame will be put onto everyone except who is actually responsible.

Talk about cutting off your nose to spite your face. Pathetic.

[alliance]

Originally Posted by OC4life

Talk about cutting off your nose to spite your face. Pathetic.

Umm...ok?

You sound like a pleasant one.


Edit: if that is in regards to my prop 13 comment I was being facetious. I will have sold and been long gone by then. I see the writing on the wall due to acceleration in progressive dogma. Exit strategy in place, taking my winnings and going somewhere with better political freedoms (all freedoms in reality) who actually want my rather significant capital and ability to feed the local economy without being sucked dry at every turn. Even if I didn’t sell my commercial real estate I have a solid triple net in place, so any tax hikes are paid for by the tenant, which is passed on to you. You want it, you pay for it.

People with something to lose often plan for those who intend to take it away. Especially when surrounded by greedy (nevermind incredibly ignorance and naive) progressives.

[OC4life]

Originally Posted by alliance

Umm...ok?

You sound like a pleasant one.


Edit: if that is in regards to my prop 13 comment I was being facetious. I will have sold and been long gone by then. I see the writing on the wall due to acceleration in progressive dogma. Exit strategy in place, taking my winnings and going somewhere with better political freedoms (all freedoms in reality) who actually want my rather significant capital and ability to feed the local economy without being sucked dry at every turn. Even if I didn’t sell my commercial real estate I have a solid triple net in place, so any tax hikes are paid for by the tenant, which is passed on to you. You want it, you pay for it.

People with something to lose often plan for those who intend to take it away. Especially when surrounded by greedy (nevermind incredibly ignorance and naive) progressives.

Originally Posted by alliance

And yes, I have two California properties with tax bills that will double to triple, but it’s worth it just seeing the fallout from you idiots who made this happen. The best part is that the blame will be put onto everyone except who is actually responsible.

You're telling me this isn't an incredibly spiteful comment?