Why Pelosi Chooses Wealthy Homeowners Over the Working Class

cawacko said:
One can post an article without having to agree with everything in it. But being obtuse is your M.O.

A simple google search and a little research would show that the the M.I.D. does increase values.

I've worked in the real estate industry for 25 years. I have no idea your background or experience but clearly you have a very high opinion of your knowledge of real estate.


https://www.forbes.com/sites/jeffre...-is-pure-rent-seeking-so-end-it/#77990cf4b6ec
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Probably because I've owned multiple properties when you were still pissing your bed.

Go ahead....post some opinion piece that supports your claim about MID and property values. I know how you need someone else's opinion, because you really don't understand this topic.

If you don't agree that the MID prompts people to buy properties that they simply cannot afford, then say so. Or leave that moronic tidbit out of your silly OP.
 
Althea said:
Probably because I've owned multiple properties when you were still pissing your bed.

Go ahead....post some opinion piece that supports your claim about MID and property values. I know how you need someone else's opinion, because you really don't understand this topic.

If you don't agree that the MID prompts people to buy properties that they simply cannot afford, then say so. Or leave that moronic tidbit out of your silly OP.
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Your issue is with the author. But hey keeping claiming you know everything while saying nothing
 
cawacko said:
From the liberal Slate:


""The mortgage interest deduction is a deeply flawed piece of policy that has inflated housing prices without expanding ownership much if at all and should be reformed.""


http://www.slate.com/blogs/moneybox...can_tax_plan_really_will_hose_homeowners.html
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He, like you, does nothing but offer the opinions of others. Just dumping generalizations out there, without any comment on how he feels any claims he posted are valid, or why.


So why don't you find an in depth study on how a tax deduction for interest on a mortgage affects the value of properties in markets that tend to fluctuate based on Fed's monetary policies.....or basic supply/demand.

Because a tax deduction is rarely the reason people opt to purchase a home, vs continuing to rent. Sure....it's considered a positive aspect of home ownership, but the costs associated with home ownership typically cancel out any 'gain' one might see from tax credits.

Which is why the MID is a valid concept. Homeowners carry the lion's share of burden for the funding of local services.
 
Althea said:
He, like you, does nothing but offer the opinions of others. Just dumping generalizations out there, without any comment on how he feels any claims he posted are valid, or why.


So why don't you find an in depth study on how a tax deduction for interest on a mortgage affects the value of properties in markets that tend to fluctuate based on Fed's monetary policies.....or basic supply/demand.

Because a tax deduction is rarely the reason people opt to purchase a home, vs continuing to rent. Sure....it's considered a positive aspect of home ownership, but the costs associated with home ownership typically cancel out any 'gain' one might see from tax credits.

Which is why the MID is a valid concept. Homeowners carry the lion's share of burden for the funding of local services.
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I talked to my buddy who's a Harvard Law Grad and tax partner at his firm about your idea of funding local services. His response:

"I think it's the first time I've heard of a federal income tax deduction justified based on a (mis-)perception of who bears the cost of local services."
 
cawacko said:
I agree with the author that the MID benefits the well to do and is a form of socialism for the rich.
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I see. So a homeowner making $50k/year doesn't benefit from the MID? Do you have an economist that you can quote on that?
 
cawacko said:
I talked to my buddy who's a Harvard Law Grad and tax partner at his firm about your idea of funding local services. His response:

"I think it's the first time I've heard of a federal income tax deduction justified based on a (mis-)perception of who bears the cost of local services."
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Does he even know anyone who makes less than $100k/year? If he needs to have the concept explained, I'm happy to do so.

Tell him I'd like to know who funds local services.

Ask him how the MID raises home values, as you suggest.
 
cawacko said:
I talked to my buddy who's a Harvard Law Grad and tax partner at his firm about your idea of funding local services. His response:

"I think it's the first time I've heard of a federal income tax deduction justified based on a (mis-)perception of who bears the cost of local services."
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Tell your imaginary friend that he wasted his money at Harvard.

https://www.tax.ny.gov/pit/property/learn/proptax.htm

[FONT=&quot]In New York State, the property tax is a local tax, raised and spent locally to finance local governments and public schools. While the State itself does not collect or receive any direct benefit from the property tax, this tax is still of major importance as the largest single revenue source for the support of municipal and school district services.[/FONT]
[FONT=&quot]Counties, cities, towns, villages, school districts, and special districts use property taxes to fund:[/FONT]

  • schools
  • police and fire protection
  • road maintenance
  • many other municipal services
 
Wow. Resumes don't mean all that much. That being said remind us again your background and ballpark net worth
 
cawacko said:
Wow. Resumes don't mean all that much. That being said remind us again your background and ballpark net worth
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Ahhh....the proverbial back pedal. Very good. You're almost to the point of acceptance.

'Resumes'. That's classic. Your imaginary friend knows nothing about property taxes, but he's got a damn good resume.

Know who else had an ivy league diploma? Lil' Bush.

Evidently, links from state dept. of taxation don't mean anything either, so long as your imaginary friend said the opposite
 
cawacko said:
I talked to my buddy who's a Harvard Law Grad and tax partner at his firm about your idea of funding local services. His response:

"I think it's the first time I've heard of a federal income tax deduction justified based on a (mis-)perception of who bears the cost of local services."
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Bro, I understand you are having trouble understanding the difference between a federal income tax deduction and the payment of local taxes. There's no shame in that, we can work with you
 
cawacko said:
You know you're in trouble when you flat out resort to lying.
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Very good. Baby steps. So there are millions of middle class American homeowners who benefit from this MID, given that I've already proven that property taxes fund local services and education.


So why did you try to make this about race, and as your bogus thread title claims 'wealthy homeowners over the middle class'?

Or do you believe that all working class people are renters?
 
Althea said:
Very good. Baby steps. So there are millions of middle class American homeowners who benefit from this MID, given that I've already proven that property taxes fund local services and education.


So why did you try to make this about race, and as your bogus thread title claims 'wealthy homeowners over the middle class'?

Or do you believe that all working class people are renters?
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El Oh Freaking El. You're not even honest dude. Is that why you don't have friends and are surprised others do?
 
cawacko said:
El Oh Freaking El. You're not even honest dude. Is that why you don't have friends and are surprised others do?
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Wanna just start your thread with a new title, and argue the merits of the MID instead? As long as you're so hung up on honesty.

Because deep in my heart, I believe I've actually taught you something today. You can invite your imaginary friend as well. He's got some 'learnin' to do too, given that he doesn't even know how property taxes are allocated.
 
Althea said:
Wanna just start your thread with a new title, and argue the merits of the MID instead? As long as you're so hung up on honesty.

Because deep in my heart, I believe I've actually taught you something today. You can invite your imaginary friend as well. He's got some 'learnin' to do too, given that he doesn't even know how property taxes are allocated.
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Yeah, he's a tax partner at a major law firm and doesn't understand how property taxes work. SMDH. You still don't understand what he said
 
cawacko said:
Yeah, he's a tax partner at a major law firm and doesn't understand how property taxes work. SMDH. You still don't understand what he said
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What he said, was that I clearly don't understand how local services are funded. I don't care where he works. He clearly has nothing to do with property taxes, nor does he have a clue about same, because it's clear that he's a renter.

Did your imaginary friend enlighten you as to how local services are funded?
 
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