|
Read the rules in the OP before posting, please.In order to ensure that this thread continues to meet TL standards and follows the proper guidelines, we will be enforcing the rules in the OP more strictly. Be sure to give them a re-read to refresh your memory! The vast majority of you are contributing in a healthy way, keep it up! NOTE: When providing a source, explain why you feel it is relevant and what purpose it adds to the discussion if it's not obvious. Also take note that unsubstantiated tweets/posts meant only to rekindle old arguments can result in a mod action. |
On December 21 2017 01:59 Mohdoo wrote:Show nested quote +On December 21 2017 01:48 IyMoon wrote:On December 21 2017 01:46 Danglars wrote:
Since I haven’t seen it reported in the thread yet, the Senate passed the conference tax bill early this morning just before 1am. The House has to re-pass it due to some the technicalities, but it’s as good as passed now. Trump will sign it the second it hits his desk, and will hold a congratulatory press conference today. I am looking forward to my projected 2k tax cut and for all the poor peoples services to be cut so I can have it. Thank god for being middle class Yeah, growing up poor my whole life and only recently "hitting it big", this is how I feel: + Show Spoiler +Gotta admit, getting a free $2700 ain't too shabby. I am definitely going to be dumping that right back into the economy, so props there. Well, I'll be using it for a downpayment on a house, so I dunno if that counts.
The fun part is that people like you and me don't need it. I've managed to save over 20k this year while spending on stupid shit and paying LA rents. An extra 2k is just going straight to that savings account. You could have waited the extra 2-3 months needed to save that amount and then put the down payment down.
but the services that will be cut to pay for this hurt the people who do need help. God it sucks for a lot of people
|
On December 21 2017 01:59 Mohdoo wrote:Show nested quote +On December 21 2017 01:48 IyMoon wrote:On December 21 2017 01:46 Danglars wrote:
Since I haven’t seen it reported in the thread yet, the Senate passed the conference tax bill early this morning just before 1am. The House has to re-pass it due to some the technicalities, but it’s as good as passed now. Trump will sign it the second it hits his desk, and will hold a congratulatory press conference today. I am looking forward to my projected 2k tax cut and for all the poor peoples services to be cut so I can have it. Thank god for being middle class Yeah, growing up poor my whole life and only recently "hitting it big", this is how I feel: + Show Spoiler +Gotta admit, getting a free $2700 ain't too shabby. I am definitely going to be dumping that right back into the economy, so props there. Well, I'll be using it for a downpayment on a house, so I dunno if that counts.
It counts. It's also the smart thing to do. I sat down with my financial adviser a couple weeks ago to talk about retirement planning for the first time. My wife and I are definitely above-average savers, but neither of us felt like we were saving as much as we really need to for retirement. It turns out that, by virtue of owning property in an area where people want to live, we are pretty much set. Just an interesting lesson that I thought that I'd pass along: do whatever you can to own some property and get on the equity ladder.
|
On December 21 2017 02:08 xDaunt wrote:Show nested quote +On December 21 2017 01:59 Mohdoo wrote:On December 21 2017 01:48 IyMoon wrote:On December 21 2017 01:46 Danglars wrote:
Since I haven’t seen it reported in the thread yet, the Senate passed the conference tax bill early this morning just before 1am. The House has to re-pass it due to some the technicalities, but it’s as good as passed now. Trump will sign it the second it hits his desk, and will hold a congratulatory press conference today. I am looking forward to my projected 2k tax cut and for all the poor peoples services to be cut so I can have it. Thank god for being middle class Yeah, growing up poor my whole life and only recently "hitting it big", this is how I feel: + Show Spoiler +Gotta admit, getting a free $2700 ain't too shabby. I am definitely going to be dumping that right back into the economy, so props there. Well, I'll be using it for a downpayment on a house, so I dunno if that counts. It counts. It's also the smart thing to do. I sat down with my financial adviser a couple weeks ago to talk about retirement planning for the first time. My wife and I are definitely above-average savers, but neither of us felt like we were saving as much as we really need to for retirement. It turns out that, by virtue of owning property in an area where people want to live, we are pretty much set. Just an interesting lesson that I thought that I'd pass along: do whatever you can to own some property and get on the equity ladder.
best hope people still want to live there when you want to retire. Real estate can be a big sink if you make a mistake
|
On December 21 2017 02:08 xDaunt wrote:Show nested quote +On December 21 2017 01:59 Mohdoo wrote:On December 21 2017 01:48 IyMoon wrote:On December 21 2017 01:46 Danglars wrote:
Since I haven’t seen it reported in the thread yet, the Senate passed the conference tax bill early this morning just before 1am. The House has to re-pass it due to some the technicalities, but it’s as good as passed now. Trump will sign it the second it hits his desk, and will hold a congratulatory press conference today. I am looking forward to my projected 2k tax cut and for all the poor peoples services to be cut so I can have it. Thank god for being middle class Yeah, growing up poor my whole life and only recently "hitting it big", this is how I feel: + Show Spoiler +Gotta admit, getting a free $2700 ain't too shabby. I am definitely going to be dumping that right back into the economy, so props there. Well, I'll be using it for a downpayment on a house, so I dunno if that counts. It counts. It's also the smart thing to do. I sat down with my financial adviser a couple weeks ago to talk about retirement planning for the first time. My wife and I are definitely above-average savers, but neither of us felt like we were saving as much as we really need to for retirement. It turns out that, by virtue of owning property in an area where people want to live, we are pretty much set. Just an interesting lesson that I thought that I'd pass along: do whatever you can to own some property and get on the equity ladder.
That sounds like a terrible way to plan your retirement.
If the housing market collapses a few years before you retire off of the cost of your fancy house what are you going to do?
And remember when you pick your new home to live in when you sold your current one, that all the hospitals in the cheap countryside have closed thanks to continues healthcare cuts.
|
Long term planning that is reliant on factors with only short-term stability is how bubbles grow and pop.
|
On December 21 2017 01:48 IyMoon wrote:Show nested quote +On December 21 2017 01:46 Danglars wrote:
Since I haven’t seen it reported in the thread yet, the Senate passed the conference tax bill early this morning just before 1am. The House has to re-pass it due to some the technicalities, but it’s as good as passed now. Trump will sign it the second it hits his desk, and will hold a congratulatory press conference today. I am looking forward to my projected 2k tax cut and for all the poor peoples services to be cut so I can have it. Thank god for being middle class
If you feel bad about not giving the federal government the amount it said you owed before, you can overpay your taxes. That is an option for you.
|
On December 21 2017 02:14 Gorsameth wrote:Show nested quote +On December 21 2017 02:08 xDaunt wrote:On December 21 2017 01:59 Mohdoo wrote:On December 21 2017 01:48 IyMoon wrote:On December 21 2017 01:46 Danglars wrote:
Since I haven’t seen it reported in the thread yet, the Senate passed the conference tax bill early this morning just before 1am. The House has to re-pass it due to some the technicalities, but it’s as good as passed now. Trump will sign it the second it hits his desk, and will hold a congratulatory press conference today. I am looking forward to my projected 2k tax cut and for all the poor peoples services to be cut so I can have it. Thank god for being middle class Yeah, growing up poor my whole life and only recently "hitting it big", this is how I feel: + Show Spoiler +Gotta admit, getting a free $2700 ain't too shabby. I am definitely going to be dumping that right back into the economy, so props there. Well, I'll be using it for a downpayment on a house, so I dunno if that counts. It counts. It's also the smart thing to do. I sat down with my financial adviser a couple weeks ago to talk about retirement planning for the first time. My wife and I are definitely above-average savers, but neither of us felt like we were saving as much as we really need to for retirement. It turns out that, by virtue of owning property in an area where people want to live, we are pretty much set. Just an interesting lesson that I thought that I'd pass along: do whatever you can to own some property and get on the equity ladder. That sounds like a terrible way to plan your retirement. If the housing market collapses a few years before you retire off of the cost of your fancy house what are you going to do? And remember when you pick your new home to live in when you sold your current one, that all the hospitals in the cheap countryside have closed thanks to continues healthcare cuts.
I think it depends on the area. There are a lot of areas that have pretty much guaranteed growth for a long time. Cities that are expensive because they are plain and simply a great place to live tend to suffer less from bubble stuff and also tend to recover nicely. For example, a lot of university towns that end up being startup hubs have a lot of long term value. Boulder, Portland, NYC, Seattle, SF are also towns that will really just keep going up in value.
|
On December 21 2017 02:14 Gorsameth wrote:Show nested quote +On December 21 2017 02:08 xDaunt wrote:On December 21 2017 01:59 Mohdoo wrote:On December 21 2017 01:48 IyMoon wrote:On December 21 2017 01:46 Danglars wrote:
Since I haven’t seen it reported in the thread yet, the Senate passed the conference tax bill early this morning just before 1am. The House has to re-pass it due to some the technicalities, but it’s as good as passed now. Trump will sign it the second it hits his desk, and will hold a congratulatory press conference today. I am looking forward to my projected 2k tax cut and for all the poor peoples services to be cut so I can have it. Thank god for being middle class Yeah, growing up poor my whole life and only recently "hitting it big", this is how I feel: + Show Spoiler +Gotta admit, getting a free $2700 ain't too shabby. I am definitely going to be dumping that right back into the economy, so props there. Well, I'll be using it for a downpayment on a house, so I dunno if that counts. It counts. It's also the smart thing to do. I sat down with my financial adviser a couple weeks ago to talk about retirement planning for the first time. My wife and I are definitely above-average savers, but neither of us felt like we were saving as much as we really need to for retirement. It turns out that, by virtue of owning property in an area where people want to live, we are pretty much set. Just an interesting lesson that I thought that I'd pass along: do whatever you can to own some property and get on the equity ladder. That sounds like a terrible way to plan your retirement. If the housing market collapses a few years before you retire off of the cost of your fancy house what are you going to do? And remember when you pick your new home to live in when you sold your current one, that all the hospitals in the cheap countryside have closed thanks to continues healthcare cuts.
I have no intention of putting everything into one asset class and relying upon that for my retirement. However, the accumulation of equity from home ownership (presuming that you're in a decent area) is a huge key to building wealth. You can leverage that equity into other investments, all of which will accelerate you to your retirement goals.
|
On December 21 2017 02:18 farvacola wrote:
Long term planning that is reliant on factors with only short-term stability is how bubbles grow and pop.
But land values will just go up forever? Didn't you hear?
|
On December 21 2017 02:25 Danglars wrote:Show nested quote +On December 21 2017 01:48 IyMoon wrote:On December 21 2017 01:46 Danglars wrote:
Since I haven’t seen it reported in the thread yet, the Senate passed the conference tax bill early this morning just before 1am. The House has to re-pass it due to some the technicalities, but it’s as good as passed now. Trump will sign it the second it hits his desk, and will hold a congratulatory press conference today. I am looking forward to my projected 2k tax cut and for all the poor peoples services to be cut so I can have it. Thank god for being middle class If you feel bad about not giving the federal government the amount it said you owed before, you can overpay your taxes. That is an option for you.
Can't help but laugh at this. You are obviously being sarcastic because nobody is going to give back free money. Yet this is exactly what the tax deal is asking businesses to do.
"Man, we have all this additional free money we didn't have before. I almost feel bad that it's at the expense of most everyone else."
"Why don't you trickle down some of your new money then, huh? Maybe raise salaries and hire new people?"
"LOL, fuck that noise. I'm going to prop up our stock prices and increase executive bonuses!"
|
On December 21 2017 02:25 Danglars wrote:Show nested quote +On December 21 2017 01:48 IyMoon wrote:On December 21 2017 01:46 Danglars wrote:
Since I haven’t seen it reported in the thread yet, the Senate passed the conference tax bill early this morning just before 1am. The House has to re-pass it due to some the technicalities, but it’s as good as passed now. Trump will sign it the second it hits his desk, and will hold a congratulatory press conference today. I am looking forward to my projected 2k tax cut and for all the poor peoples services to be cut so I can have it. Thank god for being middle class If you feel bad about not giving the federal government the amount it said you owed before, you can overpay your taxes. That is an option for you.
A more sensible approach would be to use the money to buy up some government bonds since they're super fucking insanely in debt now.
|
On December 21 2017 02:29 Plansix wrote:Show nested quote +On December 21 2017 02:18 farvacola wrote:
Long term planning that is reliant on factors with only short-term stability is how bubbles grow and pop. But land values will just go up forever? Didn't you hear?
They do in top tier cities.
|
So wait, are republicans trying to get this thing rolled out such that I would get this tax credit THIS year? Meaning when I do my 2017 taxes next year, I would be getting this bonus?
|
On December 21 2017 02:52 Mohdoo wrote:
So wait, are republicans trying to get this thing rolled out such that I would get this tax credit THIS year? Meaning when I do my 2017 taxes next year, I would be getting this bonus?
I believe that is the plan. Expect to see a big return this year. Mine was 4 k last year, I made even more this year plus this. I am hoping for a 7k feb bonus from uncle sam
|
On December 21 2017 02:45 xDaunt wrote:Show nested quote +On December 21 2017 02:29 Plansix wrote:On December 21 2017 02:18 farvacola wrote:
Long term planning that is reliant on factors with only short-term stability is how bubbles grow and pop. But land values will just go up forever? Didn't you hear? They do in top tier cities.
Got bad news for you.
|
Buffalo bayou’s waters flow east for more than 50 miles from fast-vanishing western prairieland, through Houston’s centre and out to its heavily industrial ship channel.
Long before the city’s tangle of freeways were built, the bayou’s existence helped draw settlers in the 19th century. But after thousands of homes flooded this August as Hurricane Harvey ravaged the city, proximity to water is increasingly seen as a liability.
More than 400,000 homes sit in the watershed of the bayou, which has become a focus of angst regarding how and where to rebuild, and whether Houston’s economic model – which helped it to become the fourth largest US city – is sustainable in the climate-change era.
“I think Houston’s at a turning point in its history,” says Jim Blackburn, an environmental lawyer and co-director of the Severe Storm Prediction, Education and Evacuation from Disaster Center at Rice University. “I think it could be on the forefront of the resilience movement of the 21st century and redefining how cities deal with these severe storm events, which are becoming much more commonplace.”
The alternative, Blackburn adds, is “we do nothing and frankly begin to see the economic decline” of this oil and gas hub, where there’s growing scrutiny of the rapacious development – and accompanying jobs – that once meant a chance of the American dream for so many.
Advertisement
After Harvey, will families and workplaces be safe the next time the rains come?
“Previous generations understood that you came here to make money and that was it,” says Susan Chadwick, executive director of Save Buffalo Bayou, a local advocacy group.
The notion that Houston could be pretty as well as practical came relatively recently to a city where a climate-controlled tunnel system links 95 blocks so that office workers need not venture outside. “People don’t come here for the nature experience – never did. It was not a hospitable place. It was a place you’d pave over,” she says.
I meet Chadwick on the bayou’s south bankon a sunny Sunday morning, and in this particular section, 15 miles west of downtown, it is a secluded and idyllic scene: blue sky visible through a canopy of trees, little noise apart from the puffing of occasional joggers and cyclists and the gurgling of turbid waters, perhaps hiding turtles, alligators, snakes, catfish and river otters.
Yet these wealthy residential neighbourhoods, barely visible from the water’s edge above steep grassy berms, were some of the most devastated when the deluge came at the end of August.
Driving around, it looks as though normality has returned. But a few months ago, it was not untypical to find residents living among salvaged possessions in rooms with stripped-out floors and walls, or a For Sale sign lying in a puddle.
“They should never have allowed people to build so close to the bayou,” says Chadwick.
Source
|
On December 21 2017 02:52 Mohdoo wrote:
So wait, are republicans trying to get this thing rolled out such that I would get this tax credit THIS year? Meaning when I do my 2017 taxes next year, I would be getting this bonus?
I think it's for income earned next year.
|
On December 21 2017 03:12 Introvert wrote:Show nested quote +On December 21 2017 02:52 Mohdoo wrote:
So wait, are republicans trying to get this thing rolled out such that I would get this tax credit THIS year? Meaning when I do my 2017 taxes next year, I would be getting this bonus? I think it's for income earned next year.
I was under the impression that it was for now. I believe Sanders said so during a briefing
|
On December 21 2017 03:15 IyMoon wrote:Show nested quote +On December 21 2017 03:12 Introvert wrote:On December 21 2017 02:52 Mohdoo wrote:
So wait, are republicans trying to get this thing rolled out such that I would get this tax credit THIS year? Meaning when I do my 2017 taxes next year, I would be getting this bonus? I think it's for income earned next year. I was under the impression that it was for now. I believe Sanders said so during a briefing
Your paychecks will have withholding changes early next year but I'm not sure the lower rates apply for 2017 income.
|
On December 21 2017 03:15 IyMoon wrote:Show nested quote +On December 21 2017 03:12 Introvert wrote:On December 21 2017 02:52 Mohdoo wrote:
So wait, are republicans trying to get this thing rolled out such that I would get this tax credit THIS year? Meaning when I do my 2017 taxes next year, I would be getting this bonus? I think it's for income earned next year. I was under the impression that it was for now. I believe Sanders said so during a briefing
Sanders doesn't have much credibility in terms of understanding policy.
Logically, we're less than a month away from the start of tax season. Is everyone supposed to rewrite everything in a couple weeks to follow all of the new regulations? It does not seem likely to me.
|
|
|
|
|
|
EPT![[image loading]](https://i.imgur.com/CTufIxP.gif)
