Will Democrats rollback SALT deduction limits before 2025 itself?

42

No doubt some people will pay slightly higher tax. But only a small population is actually going to pay more tax.

You should celebrate over your higher tax as a validation of your worth :joy: It’s better to earn more than less.

Btw, did they remove Obama’s rich people tax? That could save you a bunch.

They lowered tax rate, that should save you taxes.

43

No, they kept the 3.88% capital gain tax for rich people as such.

44

House appreciated 100% i.e. gain $1M, and you’re crying unfair because tax increases by $1k per year?

45

Oh, GOP hates the rich as well. Both parties hate the rich

46

thatr was exactly my point. people who bought in 2014 are crying me a river.
People who bought in 2018 however…

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47

Their house appreciates by $1M, they think it’s nothing and totally entitled to it. But when the tax payment went up by $1000, they are mad and mad.

And they want to repeal prop 13 so that they could pay $48k extra property tax every year when they retire.

Totally irrational

48

Now we know household income of Jane, tomato and BA_Lurker is higher than $600k. Too much info :scream:

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49

Don’t be sad @tomato, maybe you can laugh at those who buy in 2019.

50

:scream: :scream: :scream:

51

Yep. Sum of (state tax + property tax + mortgage interest deduction) > AMT hit. You don’t lose all of the former because of AMT. it gets adjusted.