An argument for keeping tax breaks for parents

[CosmicCowboy]

Snakeboy, if you are able to purchase another home by just "writing a check" then it would really behoove you, especially in this market, to lever that up a bit and get some real estate cheap, especially since rents are now beginning to outpace mortgage payments for equivalent houses.

, you don't even have to take the mortgage tax deduction if you don't want as I am sure that you don't deduct the property taxes that you are allowed to so that you can stay in accordance with your convictions.

No . This house I'm in the process of buying would rent for more than the monthly payment which includes taxes and insurance.

[SnakeBoy]

Snakeboy, if you are able to purchase another home by just "writing a check" then it would really behoove you, especially in this market, to lever that up a bit and get some real estate cheap, especially since rents are now beginning to outpace mortgage payments for equivalent houses.

yeah because the real estate market is going to rebound to pre 08 levels, everything is fine what could go wrong...no thanks I'll pass.

, you don't even have to take the mortgage tax deduction if you don't want as I am sure that you don't deduct the property taxes that you are allowed to so that you can stay in accordance with your convictions.

I do take my deductions. But I don't adjust my views on how I think things should be based on what would benefit me at the moment, and then about everyone else for doing the same.

[LnGrrrR]

Not a very smart move... making financial decisions that close to being in the red now, is it?

Probably not, but it's merely a simple hypothetical.

Sure we do, but to use "funding our retirement years" as a reason or excuse is just another cradle to grave expectation of en lements.

If you agree that children are important, what would you do if we ended up becoming top heavy like some other industrialized countries? Would you just tell the elderly to suck it up and cut their benefits? Or would you suggest policy changes?

Why there is risk? Isn't it obvious?

Considering I don't use capital gains, no, not really.

Yes, but my reason is that when you tax something more, you are inhibiting growth in such areas. When you tax something less, you increase growth in such areas. I believe in taxing consumption rather than production. Tax what a person is able to buy. Not what they are forced to pay based on arbitrary facts.

By taxing corporations "less" though, you are ultimately forcing others to pick up the tab though. (In theory, neither necessarily affects the other, but in the real world you have to collect money somehow.) If you taxed corporations at a higher rate, then we could provide those same tax breaks to parents instead. I wasn't aware you were a "tax consumption" person though. Would that make you for a national sales tax?

If US corporations and businesses paid less in taxes, or nothing, they would be able to reduce their prices in world trade and here. If we taxed consumption of products instead of production, we would pay more for imported goods. In the balance, we would have a net positive effect to the economy. Our local purchasing power would remain about neutral, while making imports less desirable. It would make the different in some industries to return manufacturing here.

I'm not quite sure about this, as I haven't done the required research to speak knowledgeably about this topic. It's an interesting idea.

[TeyshaBlue]

No . This house I'm in the process of buying would rent for more than the monthly payment which includes taxes and insurance.

The Joys of Landlordship are grossly exaggerated tbh.

I get really tired of learning trades. , I'm almost HVAC certified by now.

[LnGrrrR]

The Joys of Landlordship are grossly exaggerated tbh.

I get really tired of learning trades. , I'm almost HVAC certified by now.

This is why my life plan currently goes as follows:

6 1/2 more years in the military
Some 20+ years after that doing networking stuff
Eventually maybe retire


I know some people who plan on doing 20 years in the military, but they want to do a completely different job on the outside. No thanks, I'll keep my 20+ years of experience.

[CosmicCowboy]

The Joys of Landlordship are grossly exaggerated tbh.

I get really tired of learning trades. , I'm almost HVAC certified by now.

LOL, I started out in home building so I'm pretty good at all that .

[Drachen]

yeah because the real estate market is going to rebound to pre 08 levels, everything is fine what could go wrong...no thanks I'll pass.



I do take my deductions. But I don't adjust my views on how I think things should be based on what would benefit me at the moment, and then about everyone else for doing the same.

It doesn't have to rebound to pre-08 levels for you to make off like a bandit. Things could stay exactly as they are now and you still make great money. , where do you have your money? back yard?

Also, you have complained about welfare practices, but are calling CC out for taking his deductions while doing the same yourself.

[CuckingFunt]

The Joys of Landlordship are grossly exaggerated tbh.

I get really tired of learning trades. , I'm almost HVAC certified by now.

Working in residential property management for ten years was enough to teach me that I never want to own rental property.

[TeyshaBlue]

It doesn't have to rebound to pre-08 levels for you to make off like a bandit. Things could stay exactly as they are now and you still make great money. , where do you have your money? back yard?

Also, you have complained about welfare practices, but are calling CC out for taking his deductions while doing the same yourself.

I don't think Snake's complained about welfare...he's honing in on the perceived hypocrisy in someone deriding welfare while simultaneously taking advantage of tax credits.

The problem is the conflation of welfare and tax credits. One of these is not like the other.....

[TeyshaBlue]

Working in residential property management for ten years was enough to teach me that I never want to own rental property.

Yeah. I had to learn the hard way.

[TeyshaBlue]

Want some cheap rental properties?

Buy one get one free!

[Th'Pusher]

San Antonio sees surge in home sales SABOR reports

[Drachen]

I don't think Snake's complained about welfare...he's honing in on the perceived hypocrisy in someone deriding welfare while simultaneously taking advantage of tax credits.

The problem is the conflation of welfare and tax credits. One of these is not like the other.....

If he has never done so, then I apologize, I may have mixed him up with someone else.

[CosmicCowboy]

Want some cheap rental properties?

Buy one get one free!

I'll have my people get with your people...

[TeyshaBlue]

I'll have my people get with your people...

Double the Green Stamps if done by tomorrow!

[Drachen]

Want some cheap rental properties?

Buy one get one free!

Owner financed at 3.25%? LOL

Oh and can you please move the properties to SA so that I can watch over them?

[TeyshaBlue]

Don't make that offer twice.

[SnakeBoy]

The problem is the conflation of welfare and tax credits. One of these is not like the other.....

There is a difference between the two but the difference makes CC's hypocrisy even worse. He es about people who want free food so they don't starve and then brags how he got free he didn't need and could have afforded without govt help.

[CosmicCowboy]

There is a difference between the two but the difference makes CC's hypocrisy even worse. He es about people who want free food so they don't starve and then brags how he got free he didn't need and could have afforded without govt help.

Show me a post where I ed about feeding starving people.

You can't you little . GFY

[TeyshaBlue]

There is a difference between the two but the difference makes CC's hypocrisy even worse. He es about people who want free food so they don't starve and then brags how he got free he didn't need and could have afforded without govt help.

You're adding quite a few additional qualifiers that, up to this point, are unsupported. Starving populations are but a subset of those receiving free food. If you want to equate the Lone Star card user using the card for a Slurpee at the 7-11 to CC getting free golf carts, well, that's a little stronger association than welfare v tax credits.

[TeyshaBlue]

Not sure that equates to hypocrisy, tho. Once subset is working for the benefits, while the other, ostensibly, is not. Of couse, I just did the same thing I accused you of. I took a subset and made the entire population a class.

It's easy to do.

[TeyshaBlue]

in other words, it aint that easy to make a case for hypocrisy stick.

[Wild Cobra]

why do this when secured rates are lower than unsecured. (unless your plan was to go with liability only on that car)

I guess that depends on ones credit rating and how they borrow it. My interest rate is 1.375%.

[SnakeBoy]

It doesn't have to rebound to pre-08 levels for you to make off like a bandit. Things could stay exactly as they are now and you still make great money. , where do you have your money? back yard?

Savings? Might as well be in my backyard...money market account. Our current savings rate sets us up for a very good early retirement. No need to risk that money.

Investment money...high risk/high reward stocks, short term only. I've done well overall, taken some hits lately though. This is money I can afford to lose.

Also, you have complained about welfare practices, but are calling CC out for taking his deductions while doing the same yourself.

I probably have...the current system is a something for nothing system. I believe every wage earner should pay income tax, even if it's a token amount, and social programs should be done thru effective social programs not the tax code. Doing it with the tax code doesn't work.

What I don't do is say those people who bought houses they couldn't afford and then change my tune when I want to buy a house I can't afford without govt tax breaks.

[TeyshaBlue]

in other words, it aint that easy to make a case for hypocrisy stick.

Somebody, please stop me.