[no_such_reality]

[quote]John Legal: $25.00 per hour x 40 hours = $1000.00 per week, or $52,000.00 per year. Now take 30% away for state and federal tax; John Legal now has $31,231.00.[/quote]

This is a prime example of how broken our thinking is of our taxes. Unless John’s spouse is a high earner and he’d be better off staying home with the kids, John didn’t pay for sh*t.

John “middle class” Legal thinks he pays taxes. It’s right there, 30% off the top. He doesn’t.

If John has a W2 income of $52,000, is married and two kids, without another single thing, John and family will pay $588 in Federal income tax and $0 in California income tax. The child tax credit and California exemption wipes out his income taxes. Go do the ____ing math, the tax form takes all of 3 minutes at this level.

That leaves social security, which is 7.65% if W2 and 15.3% if self employed. Medicare is 1.45% of that, or 2.9% if self employed.

Since John’s family only makes $52K, they qualify for a $304/month assistance on for medical insurance. Broken, pain in the butt, sure, but roughly half of their premium.

They’re damn close to qualifying for SNAP too depending on their rent and housing expenses.

So John thinks he’s paying for the roads, police, firefighters and everything else with his $588 per year in taxes while sending two kids to school at $9000+ per year each.

[no_such_reality]

7% of what? 30kwh? 70kwh?

What’s that worth? $1.96?

[no_such_reality]

I honestly think Hillary if is nominated she will lose to Trump.

That’s scary to me.

I simply don’t understand the dogged support of Hillary when another populist candidate that is even more progressive is available and he shows that he mobilizes a significant element of voters that are not going to vote for Hillary.

If Hillary is nominated, I see a close race but one that will mobilize the wacko right element far more than the left. If Hillary hangs on, I suspect the democrats will not gain in the house or senate.

If Bernie is nominated, I suspect they would see much larger gains in the house and senate.

While Hillary is more qualified, if your measure is being versed in the existing sleasy sell out political model and Trump symbolizes vilest parts of capitalism run amok, you don’t claim the moral high ground by supporting a sleaseball over a shitball IMHO.

I agree, in four years we may look back at this as a litmus test, it’ll be a litmus test on who supported the demagogue if he wins, it may also be a litmus test on who dogmatically supported the status quo and refused to see the warts on their candidate too.

A recent poll shows 70% of Hillary supporters say she should continue running even if indicted. AFAICT, that attitude continues to drive people towards Trump.

[no_such_reality]

That’s the same way Amazon grew. Skirting taxes and selling below cost until competition crippled and they grew big enough.

[no_such_reality]

It varies with the mix of water you’re getting. Local ground water runs 200-300 ppm hardness, MWD provided water runs around 550 ppm hardness and local surface water reservoirs are around 700 ppm and up before the wet season.

[no_such_reality]

Interesting, Freddie just underwrote $1.2 billion in loans to the Irvine company on a subset of their properties.

The Irvine Company gets $1.2B in loans on apartments.

I didn’t realize Freddie guaranteed Major businesses loans via K-certificates.

10 year notes at 4.3%.

[no_such_reality]

Being in MD is a worthy career. There are some risks though.. Particularly with universal care. http://www.telegraph.co.uk/news/2016/03/16/how-much-are-junior-doctors-paid-and-why-are-they-threatening-to/

[no_such_reality]

[quote=harvey][quote=no_such_reality]The irony being the OP asked for a recommendation to a mortgage lender…[/quote]

It’s one thing to ask a community for business references, it’s another to promote one’s business directly.

Sure, there can be nuances, and it may be reasonable for vendors to occasionally plug their wares in exchange for consistently providing real value to discussions.

I just don’t think that “I know more about mortgages than these fools, contact me and I’ll tell you about it” even falls into the grey area.[/quote]

So, A, B or C to the prior question?

[no_such_reality]

Too much money chasing some place to be.

[no_such_reality]

[quote=flu]The only thing though is college expense. Hopefully, our budgets for that is sufficient. Part of that will come out of a well funded 529 account that clobbered most of my other account’s performance, a custodial account that’s been religiously gifted to annually, and if necessary selling of a rental property if necessarily at that point. I figure that should take the little kiddie through med-school (if that’s going to happen) heh heh.

Of course, we can always try to get into a UC school, pay in-state tuition, and piss off people that think paying in state tuition costs CA taxpayers a lot because of the reduced tuition, especially if the student is chinese,lol.[/quote]

This is were Cali shines, the UC system is outrageously inexpensive. Seriously, $15K for UCLA or Berkeley , or UCI, or Merced, or any other versus $50K for Georgetown, Dartmouth, Cornell, Brown, Carnegie Mellon, just list any top ranking.

The Cal State system runs half the UC system.

The rest of the expense, is what it costs to live in Cali and frankly, it’s cheaper living as a college kid here than living as a young adult working.

IMO, a kid going to UCI is going to fork out close to $32K to live on campus and get an education. That same kid if he was working in Orange County is going to have to probably shell out $32K to live and work here.

[no_such_reality]

[quote=harvey]This site better is better than many others because it is not just a cheap marketing venue.[/quote]

The irony being the OP asked for a recommendation to a mortgage lender…

[no_such_reality]

[quote=harvey][quote=no_such_reality]Long thread, skipped most of it.

This is simple, if you’re currently around $400k on balance and at 4%, you can get a better rate, lower payment AND let the lenders pay for it. Aka free. Sure, you could do better, but you have to pay for that.

Don’t let great be the enemy of good.[/quote]

That makes sense if you ignore the fact that any loan is about paying for money.[/quote]

Your existing loan is about paying for money.

If your existing loan is at or above 4% and the balance is more than $400K, it’s costing you more money.

It’s simple, regardless of term, a remaining $400K balance at 4% is going to cost you about $1333, this month.

Refi to 3.75% with the same balance and that $400K costs you $1250.

Next month, it’s abut $1330 for your existing loan costing you, and the new one about $1248.

So, in the near term, it’s $80/month less. Just shy of a $1000 this year. And about the same next year. And then we’ll average $950 for the next three years.

It’s a simple question.

Choose one for your remaining $400K balance:

A) do nothing, continue to pay $1330/month in interest.
B) refi, pay nothing up front and still only owe $400K, pay $1250/month in interest.
C) refi, pay about $4000 up front to get a better rate and pay probably $1200/month in interest, maybe $1166.

end of discussion.

[no_such_reality]

Long thread, skipped most of it.

This is simple, if you’re currently around $400k on balance and at 4%, you can get a better rate, lower payment AND let the lenders pay for it. Aka free. Sure, you could do better, but you have to pay for that.

Don’t let great be the enemy of good.

[no_such_reality]

Good point about the interest deduction flu on the rental.

For some there’s great comfort in paying off therimary. I also agree with HLS reasonable debt at reasonable rates is prudent as long as you don’t gamble.

You can lock up your money in equity or use it as the down payment for a small apartment building in a nearby state with a 7-10% cap rate.

[no_such_reality]

Chart 2 is informative.

http://www.arb.ca.gov/fuels/lcfs/workgroups/lcfssustain/hanson.pdf

This is a wet year were the majority of our developed supply is. What are we doing? Literally running it down the drain to the ocean because we’re worried about melt over capacity.

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