« Last post by Wax on Today at 10:54:56 AM »
I think their is a problem ! Notice posted that forum was closed ?
"So Trump made taxes into income, instead of a deduction as it hase been forever."Its like this. Property taxes , state income tax, and sales tax, and income tax, are all taxes. Trump put a cap of 10K on the first three. So if your total deduction for the three was 25K it will now max at 10K. As most adults know, these taxes will continue to rise every year. So your true net income will fall.. That will force down the price of homes. In essence it will damage the older population as did the 1% cd rate. The last item of value will fall, and that will be a big problem. Most homeowners will find themselves, underwater. Mortgage and taxes will rise and value , will be less than you owe. After the last housing price collapse, many are in this position already. And basically, when taxes go up you recovered nothing. But the money you paid in taxes was tax free. Now you will pay taxes on your taxes. Sounds like wj would go for the Severance Tax, that;s far better than this.
WHAT THE SAM HILL ARE YOU TALKING ABOUT? That is some seriously rubbishy statement.