<<Don’t worry, as a Democrat I’m sure that you’re ENTITLED to be a successful REI. Even if you do fail, it won’t be your fault - YOU ARE A VICTIM! I’d sue somebody!>>
And, by golly, in 2096 when the Dems finally get back in power, the government pledges to pay everyone’s mortgage (but they’re gonna have to raise taxes just a pinch…)
haha without getting into a huge debate. It’s gonna be way before 2096. Republicans are swamped in scandal, just look at the results of last nights elections. Dem’s are takin control of key markets.
C’mon Patrick,
Now I know you’re pulling our leg! We don’t allow Canadians in Columbus!
Mike
[color=Red
]“for a family carrying a $500,000 mortgage and earning income in the 25 percent tax bracket. The proposal would take away $4,400 of the tax benefit.”[/color]
Can a family in the 25% tax bracket even afford a $500,00. mortgage?
I sure messed that up.
wow, i guess you can’t start a political thread here without it turning into an elephant vs. donkey p-ssing match.
Some of us are a little tense. It seems that the politicians are our enemies, not each other.
I just want them to get off our backs, and get the heck out of our way.
And frankly, I don’t see a dime’s worth of difference between the two parties. They all act the same, and do the same things, despite the rhetoric to the contrary.
OK. Back to the subject of the thread: The proposed changes should not bother real estate entrepreneurs too much should it? The changes are targeted to owner occupants who itemize their personal tax returns. The interest deduction will still be allowed as an expense on Schedule E, or where ever you take your interest deductions, depending on how you are organized.
And frankly, I don't see a dime's worth of difference between the two parties. They all act the same, and do the same things, despite the rhetoric to the contrary.
There is one fundamental difference between the Republicans and Democrats that directly affect everyone who owns a business (including REIs). That difference is in regard to taxes. Republicans are for lower taxes (which is pro business). Democrats are for higher taxes with the government deciding who is worthy to receive the redistributed money (very anti-business).
High taxes, worker’s comp, EPA, out-of-control health care costs, socialized medicine, and a hugh class of people who live off government social programs have already taken our country past the point of no return. China is on the way up - We are on the way down. The question is how do we profit? I’m betting rentals are the way to go. More and more people with lower paying jobs have got to live somewhere - and they won’t be buying houses.
Mike
They all say one thing and end up doing another!
proud to be a independent voter!!!
who ever is best for the job!
although I still think there should be another choice on the ballot NONE OF THE ABOVE!!
I don’t see a dime’s worth of difference between the two parties
This is true. What government does is take money and redistributes it to its constituents. Democrat’s constituents are the poor and Republican’s constituents are the rich (you and me). As you can see, with the profits of the major oil companies, this is good or bad based on where you are in the constituency. For example, if a Democrat program to revitalize the inner city gives me a tax break to rehab a house in a neighborhood, then the Democrats are good, if the Republicans give me a tax break to use my IRA money to fund an investment property, then the Republicans are good. If I am an oil company then the Republicans are really good. It all boils down to who is helping me.
I tend to vote based on long term economic issues which means that the Democrats win out. Republicans are good for me right now, but their economic policies are a path to devastation.
I’m With ya there REO! Where is Ross Perot when you need him :hammerhead:
I do not know if I would go that far and look for Ross but yeah I would vote in Jessie Ventura!
Why bother about party loyalty when you cannot place a direct call to your senator to discuss economic jargon or deals? Be you forewarned, O men of great minds that a wind of tax law changes is about to blow through the US which will only favor the prepared mind.
Your thinking that the proposed tax laws of today will affect a great deal of home owners/investors will be rendered obsolete in a couple of years.
This great nation will remain buoyant if ExxonMobil and Co. keep raking in record breaking profits. A Chinese company actually offered to purchase ExxonMobil on Monday. This was one of SECs filings on Monday (courtesy Sqawk Box MSNBC).
Have you considered letting your child(ren) learn to communicate in mandarin?
Well it IS the most spoken language in the world!
My kids are in college…we’re still working through the “English thing”…
Keith
Funny that you should mention this. I was just reading about Jim Rogers, the author of the bestsellers Investment Biker and Adventure Capitalist. He is teaching his child to speak Chinese, as you suggest. He believes Mandarin will be the most important language in his child’s lifetime.
“Investment U: Let’s talk about China. You’re in Shanghai right now. Are you thinking about moving from New York?”
"Jim Rogers: Well, that’s one reason we’re here, because we’re contemplating moving to a Chinese-speaking city, and Shanghai is at the top of the list – at the moment, anyway. Our child is bilingual. We have a 25-month-old baby girl, and she’s bilingual. We got her a Chinese nanny from the beginning, whose instructions were to only speak Mandarin to the baby. "
Read the rest of the interview at: http://www.investmentu.com/IUEL/2005/20050721.html
Obviously, he believes that China is going to dominate the next century as an economic power. They are on the path to become the largest economy in the world within the next generation.
He is not the only one to think this:
http://www.newyorkmetro.com/nymetro/news/people/columns/intelligencer/11629/
See more on Jim Rogers at http://www.energybulletin.net/929.html
and http://www.dailyreckoning.com/Issues/2004/111304.html
Hey,
And I thought mandarin was some kind of orange! Hey, I live in Texas where we have Kinky Friedman running for governor (of course, we gave the world “W”, but we had to get him out of the state somehow!). I always vote Libertarian.
Peace,
Richard
It comes down to have’s and have not’s and they are both republican and democrats so don’t get to caught up in that party crap.
Bait and switch!
Get everyone to buy homes and investment property because they can write the mortgage interest off on taxes (saves you $$$)
Get rid of the Mortgage Interest Deduction
Profit! (for the Government)
What a hype that was
But than again, gotta pay for Iraq somehow!