Hello,
I wanted to ask experienced investors what they thought about the new tax reform that is pending in congress. I have only caught bits and part of what the new bill is supposed to do but they keep comparing it to the tax reform act in 1986 which did not work out very well in for many people. Does anyone have any information regarding this bill?
BOHICA
A acronym in New Jersey politics (but can be applied to Federal politics)
Bend
Over
Here
It
Comes
Again
Anytime a congress comes up with new tax proposals, you know it’s geared towards the special interests who gave them the most money in their campaign.
Let’s hope enough senators and rperesentatives own rental property to deter them from taking away the interest deduction on rental property.
Wouldn’t that be an ouch?
Al Gore owned rental property. Remember the Al Gore is slumlord smear during the 2000 campaign?
Facts is facts…
Actually, being a slumlord was one of his better attributes…I’ve seen him “up-close and personal” and have personal knowledge of the administration.
Keith
The National Association of Realtors is fighting this battle tooth and nail. http://www.realtor.org/PublicAffairsWeb.nsf/Pages/RETaxProposal05
I honestly don’t see it going thru. Too much preasure from special interest groups.
I will be really shocked it this comes to fruition.
Same here.