[Coronita]

[quote=FlyerInHi]Among the Tax Bill’s
Biggest Losers: Blue
State Taxpayers Who Earn
More Than $200,000

https://www.nytimes.com/interactive/2017/12/05/us/politics/tax-bill-salt.html?action=click&module=Top%20Stories&pgtype=Homepage%5B/quote%5D

Those of us that had documented AGIs above $200k were going to lose either way with Hillary or Trump. With this change, more people in CA are going to lose overall….

[Coronita]

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[Coronita]

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[Coronita]

[quote=FlyerInHi]A lot of people claim that Washington DC overreaches into local communities fthrough land grabs.

However, the way I understand real estate is that when the country was conquered, the Federal government recognized, but not always, private ownership through land grants of Mexico or previous powers.

The US government also negotiated treaties with Indian tribes.

As the territories were populated, states were created and power devolved to the states and localities, but the Federal government still owns the land that was not granted away.

Please correct me if I’m wrong. This is a very interesting subject since when you buy property, the insurance company does a title search to the original owner of the land.[/quote]

[Coronita]

Are things really going to be that bad, if you factor in the ridiculous equity markets gain?

Yes, it will suck if you live paycheck to paycheck, have no investments, have no financial plan to invest…But I doubt many of us piggs are worker bees alone. Many probably are heavily invested too.

Does paying an extra few grand in taxes matter more than dow rising 400 points in a few days?

Just curious.

[Coronita]

Meanwhile…529 plans possibly extends to K-12 private school and 529 plan eligible for unborn child…..lol…..

[Coronita]

I could be wrong about this, but I think awhile ago, i tried to make mortgage payments due the following year in the current tax year, but when I got my statement, only interest paid applicable to the current year was listed. Maybe I am wrong. İt’s been awhile.

Property tax deduction you can pay up front, but if you are subject to AMT, it might not matter since property tax payments don’t count towards AMT tax deduction.

[Coronita]

I am surprised none of you suggested Bitcoin….lol.

[Coronita]

Verizon has been much better imho.

[Coronita]

I’ve decided to pay off the remaining mortgage balance on my rental. The past few weeks in the stock market has been ridiculously great. I’m taking (some) money off the table so I can enjoy a more reliable and steady stream of income by reducing the cost to tax/hoa/maintenance.

Never know what next year brings in the markets, and frankly I don’t know what else to do with all the unexpected windfalls lately.

Maybe look at rental properties again….in other parts of CA.

I’m official old…. No more totally aggressive portfolio for me… Now comes the stage of preserving what I have.

[Coronita]

BTW: losing the state tax deduction is probably not going to fly….

https://www.politico.com/story/2017/11/12/brady-state-local-tax-deduction-244812

[Coronita]

I’ve paid off my mortgages except one rental which has a $50k balance on it.

I have to say, I had my doubts earlier because I felt I could use the money better by investing in higher returns… But honestly, I’m sort of glad I did.

I didn’t expect the rest of my investments to turn out as well as they did so far, and quite frankly at this point, I really don’t know what else I would do with it… So I decided to clear the liabilities off my table while times are good, so that when times are bad (because there will be a day), I can live a much more carefree life.

Kinda of like my philosophy of moving jobs/careers…Move while your hot, stay when you’re not.

One caveat of having virtually zero debt and still seeing a W2 package increasing, is that I can spend more time and things I enjoy doing…Even before my kid heads off to college. Because that 529k college savings plan, which has been the best performing account for the past 15 years, is now going to take care of that 4 years, and maybe part of grad school/med school.

Dont get greedy and try to maximize your returns…especially when you no longer need to. Just keep your head above inflation.

[Coronita]

[quote=spdrun]Do you really think those Trump voters will be subsidized, or is this just a con job to help people at the top of connected defense contractors in red states?

Also, define motivation … not everyone is motivated to kill themselves for 60-70 hours a week at the expense of family and social life. The US (and some Asian countries) has managed to turn this into a virtue.

Basically, I have no motivation beyond enough money to maintain a home, take my family on a trip a month a year, own a used car, eat, and buy health insurance. Any additional income gains will hopefully be realized in more free time. Time is the real currency.[/quote]

And how many green jobs were created?

Time is currency. Plenty of people manage very time well and still do very well on the money side. I don’t understand why you think the two are mutually exclusive. The only thing that I find sometimes when I have too much time, is I get lazy and waste time. Usually when I start posting here again. Lol.

[Coronita]

[quote=spdrun]You have a biased sample — those that hate the Spanish social welfare system are more likely to come to the US vs working in Spain or elsewhere in Europe.[/quote]

Yes because the folks I work with are motivated and don’t want to sit on their ass all day, and want to keep more of they earn…i dont blame them. Not that all socialism is bad….to a point….

I mean we have a more of it going on here…a lot of you folks, once you lose the state tax deduction, and capped on mortgage interest deduction, will end up paying higher taxes…..to subsidize all those Trump voters in red states with limited education, limited skills, who probably don’t like anyone who isn’t white, don’t like regulation, don’t value education ( because that’s a liberal thing), just so they can continue to live their lives they way they want with very little effort….to make things more “equal”…

[Coronita]

[quote=FlyerInHi][quote=flu]
Almost like a lot of Europe…like Spain![/quote]

Except Americans don’t have paid maternity, vacation, health care….
We will see many more toothless, opoid addicted, obese Americans, I’m aftraid[/quote]

Lol.
All the well educated people from Spain hate the nanny system there because despite them being well educated, the can’t get ahead with all the taxes. That’s why they are working here in the US. To translate what they said
….socialism sucks.

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