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ParticipantI have covered the problem with eliminating the mortgage interest deduction. It won’t work. Only the rich will be able to work around it, the middle class will get screwed. That is because interest costs are deductible on businesses, LLCs..etc. Wealthy people have good/expensive tax advisers that can show them how to wrap their house in an LLC.
On the other hand, the RE capital gains exemption only rewards those that can own real estate or already have real estate. The capital gains exemption can also be gamed, particularly if you are already in real estate as a broker (can reduce the commission cost to 1/2). There is no real purpose in this one and really should be eliminated. It also helped lead to the speculation that occurred in the RE market, leading to the current mess.
[quote FormerSanDiegan]What about the $70 Billion subsidies to big oil companies ?
Let’s cut that first.[/quote]Sounds like a good one to cut.ParticipantI have covered the problem with eliminating the mortgage interest deduction. It won’t work. Only the rich will be able to work around it, the middle class will get screwed. That is because interest costs are deductible on businesses, LLCs..etc. Wealthy people have good/expensive tax advisers that can show them how to wrap their house in an LLC.
On the other hand, the RE capital gains exemption only rewards those that can own real estate or already have real estate. The capital gains exemption can also be gamed, particularly if you are already in real estate as a broker (can reduce the commission cost to 1/2). There is no real purpose in this one and really should be eliminated. It also helped lead to the speculation that occurred in the RE market, leading to the current mess.
[quote FormerSanDiegan]What about the $70 Billion subsidies to big oil companies ?
Let’s cut that first.[/quote]Sounds like a good one to cut.Participant[quote Nor-LA-SD-GUY2]In CA approx. 30 % of home owners with a mortgage owe about 100K more than they can sell for, sorry you just cannot have an economic recovery in conditions like that.[/quote]Problem is that making it such that someone can purchase the house just passes the problem on to another person. The only way out if housing is the problem, is inflating the currency.
[quote Nor-LA-SD-GUY2]Personally I don’t know any tech people out of work.[/quote]There are more than you realize. One of the things happening is that if you have been out of work for a period of time, even in tech work, they don’t even want to look at you. They HR depts are also using this to push down technical wages.Participant[quote Nor-LA-SD-GUY2]In CA approx. 30 % of home owners with a mortgage owe about 100K more than they can sell for, sorry you just cannot have an economic recovery in conditions like that.[/quote]Problem is that making it such that someone can purchase the house just passes the problem on to another person. The only way out if housing is the problem, is inflating the currency.
[quote Nor-LA-SD-GUY2]Personally I don’t know any tech people out of work.[/quote]There are more than you realize. One of the things happening is that if you have been out of work for a period of time, even in tech work, they don’t even want to look at you. They HR depts are also using this to push down technical wages.Participant[quote Nor-LA-SD-GUY2]In CA approx. 30 % of home owners with a mortgage owe about 100K more than they can sell for, sorry you just cannot have an economic recovery in conditions like that.[/quote]Problem is that making it such that someone can purchase the house just passes the problem on to another person. The only way out if housing is the problem, is inflating the currency.
[quote Nor-LA-SD-GUY2]Personally I don’t know any tech people out of work.[/quote]There are more than you realize. One of the things happening is that if you have been out of work for a period of time, even in tech work, they don’t even want to look at you. They HR depts are also using this to push down technical wages.Participant[quote Nor-LA-SD-GUY2]In CA approx. 30 % of home owners with a mortgage owe about 100K more than they can sell for, sorry you just cannot have an economic recovery in conditions like that.[/quote]Problem is that making it such that someone can purchase the house just passes the problem on to another person. The only way out if housing is the problem, is inflating the currency.
[quote Nor-LA-SD-GUY2]Personally I don’t know any tech people out of work.[/quote]There are more than you realize. One of the things happening is that if you have been out of work for a period of time, even in tech work, they don’t even want to look at you. They HR depts are also using this to push down technical wages.Participant[quote Nor-LA-SD-GUY2]In CA approx. 30 % of home owners with a mortgage owe about 100K more than they can sell for, sorry you just cannot have an economic recovery in conditions like that.[/quote]Problem is that making it such that someone can purchase the house just passes the problem on to another person. The only way out if housing is the problem, is inflating the currency.
[quote Nor-LA-SD-GUY2]Personally I don’t know any tech people out of work.[/quote]There are more than you realize. One of the things happening is that if you have been out of work for a period of time, even in tech work, they don’t even want to look at you. They HR depts are also using this to push down technical wages.Participant[quote CONCHO]I am heartened by this new show “Hoarders”, though. I think that hoarding cleanup might be a good business to get into.[/quote]I think that the ‘Got-Junk’ guy got a serious head start. Those are his trucks on the show in many cases. We need to find the next big thing. I have seen some of the shows and am quite amazed at some of the situations.
[quote CONCHO]I feel your pain UCG, but I’m worried that the outcome will simply be to move everything overseas. Case in point – I know of a couple of projects where everyone involved is in China except project management which is here in the US. They have lots of problems, delays, etc… that all come down to time zone and communications issues. So what’s easier? Move all of the work back here or just hire a PM in China?[/quote]I think they will hire a PM and then also higher up management ends up being moved out to China. The funny thing is that having a Chinese PM will not solve the issues. I have found that there are small pockets of good strong technical excellence in India and China, but most of the country is not that technically literate. It is something that GM discovered with its exhaust manufacturing plant. Turns out that the US was actually cheaper when looking at total costs.
Participant[quote CONCHO]I am heartened by this new show “Hoarders”, though. I think that hoarding cleanup might be a good business to get into.[/quote]I think that the ‘Got-Junk’ guy got a serious head start. Those are his trucks on the show in many cases. We need to find the next big thing. I have seen some of the shows and am quite amazed at some of the situations.
[quote CONCHO]I feel your pain UCG, but I’m worried that the outcome will simply be to move everything overseas. Case in point – I know of a couple of projects where everyone involved is in China except project management which is here in the US. They have lots of problems, delays, etc… that all come down to time zone and communications issues. So what’s easier? Move all of the work back here or just hire a PM in China?[/quote]I think they will hire a PM and then also higher up management ends up being moved out to China. The funny thing is that having a Chinese PM will not solve the issues. I have found that there are small pockets of good strong technical excellence in India and China, but most of the country is not that technically literate. It is something that GM discovered with its exhaust manufacturing plant. Turns out that the US was actually cheaper when looking at total costs.
Participant[quote CONCHO]I am heartened by this new show “Hoarders”, though. I think that hoarding cleanup might be a good business to get into.[/quote]I think that the ‘Got-Junk’ guy got a serious head start. Those are his trucks on the show in many cases. We need to find the next big thing. I have seen some of the shows and am quite amazed at some of the situations.
[quote CONCHO]I feel your pain UCG, but I’m worried that the outcome will simply be to move everything overseas. Case in point – I know of a couple of projects where everyone involved is in China except project management which is here in the US. They have lots of problems, delays, etc… that all come down to time zone and communications issues. So what’s easier? Move all of the work back here or just hire a PM in China?[/quote]I think they will hire a PM and then also higher up management ends up being moved out to China. The funny thing is that having a Chinese PM will not solve the issues. I have found that there are small pockets of good strong technical excellence in India and China, but most of the country is not that technically literate. It is something that GM discovered with its exhaust manufacturing plant. Turns out that the US was actually cheaper when looking at total costs.
Participant[quote CONCHO]I am heartened by this new show “Hoarders”, though. I think that hoarding cleanup might be a good business to get into.[/quote]I think that the ‘Got-Junk’ guy got a serious head start. Those are his trucks on the show in many cases. We need to find the next big thing. I have seen some of the shows and am quite amazed at some of the situations.
[quote CONCHO]I feel your pain UCG, but I’m worried that the outcome will simply be to move everything overseas. Case in point – I know of a couple of projects where everyone involved is in China except project management which is here in the US. They have lots of problems, delays, etc… that all come down to time zone and communications issues. So what’s easier? Move all of the work back here or just hire a PM in China?[/quote]I think they will hire a PM and then also higher up management ends up being moved out to China. The funny thing is that having a Chinese PM will not solve the issues. I have found that there are small pockets of good strong technical excellence in India and China, but most of the country is not that technically literate. It is something that GM discovered with its exhaust manufacturing plant. Turns out that the US was actually cheaper when looking at total costs.
Participant[quote CONCHO]I am heartened by this new show “Hoarders”, though. I think that hoarding cleanup might be a good business to get into.[/quote]I think that the ‘Got-Junk’ guy got a serious head start. Those are his trucks on the show in many cases. We need to find the next big thing. I have seen some of the shows and am quite amazed at some of the situations.
[quote CONCHO]I feel your pain UCG, but I’m worried that the outcome will simply be to move everything overseas. Case in point – I know of a couple of projects where everyone involved is in China except project management which is here in the US. They have lots of problems, delays, etc… that all come down to time zone and communications issues. So what’s easier? Move all of the work back here or just hire a PM in China?[/quote]I think they will hire a PM and then also higher up management ends up being moved out to China. The funny thing is that having a Chinese PM will not solve the issues. I have found that there are small pockets of good strong technical excellence in India and China, but most of the country is not that technically literate. It is something that GM discovered with its exhaust manufacturing plant. Turns out that the US was actually cheaper when looking at total costs.
Participant[quote=Nor-LA-SD-GUY2]You have to fix housing or wait for it to fix itself that is the only way you will get out of the current high unemployment problems (and no there are not too many houses at least not in socal).[/quote]
I don’t think housing will lead us out of this one. Functionally, housings biggest single cost item is land. Land is not produced in a factory nor does the sale of land create jobs. It does pay the ‘landed wealthy’ though when they can sell parts of parcels they own. The concentration needs to be on jobs, not saving Real Estate. Tweaking rates, mortgage terms etc to allow a how to sell at a higher price may help the one selling, but it doesn’t help the one buying.I am going to add the following – because I just got through dealing with it. We are shipping too much of our labor overseas, and it really doesn’t pay off. Too many companies are looking at the raw labor cost not factoring in production rate and quality. The reason this came up: I had to deal with Oracle support (MOS). On one issue, I had to deal with support based in China. The experience was almost like “Who’s on First”. Fine if I was wanting entertainment, but I have to deal with a system with reduced functionality – needs to be fixed. Part of the discussion ended up with the support person repeating everything I had entered, but in the form of a question.
Participant[quote=Nor-LA-SD-GUY2]You have to fix housing or wait for it to fix itself that is the only way you will get out of the current high unemployment problems (and no there are not too many houses at least not in socal).[/quote]
I don’t think housing will lead us out of this one. Functionally, housings biggest single cost item is land. Land is not produced in a factory nor does the sale of land create jobs. It does pay the ‘landed wealthy’ though when they can sell parts of parcels they own. The concentration needs to be on jobs, not saving Real Estate. Tweaking rates, mortgage terms etc to allow a how to sell at a higher price may help the one selling, but it doesn’t help the one buying.I am going to add the following – because I just got through dealing with it. We are shipping too much of our labor overseas, and it really doesn’t pay off. Too many companies are looking at the raw labor cost not factoring in production rate and quality. The reason this came up: I had to deal with Oracle support (MOS). On one issue, I had to deal with support based in China. The experience was almost like “Who’s on First”. Fine if I was wanting entertainment, but I have to deal with a system with reduced functionality – needs to be fixed. Part of the discussion ended up with the support person repeating everything I had entered, but in the form of a question.
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