Mainecat Posted December 20, 2017 Share Posted December 20, 2017 The new tax bill removes the interest write off on home equity loans. Quote Link to comment Share on other sites More sharing options...
Sal Rosenberg Posted December 20, 2017 Share Posted December 20, 2017 2 minutes ago, Mainecat said: The new tax bill removes the interest write off on home equity loans. Good . The house isn't a piggybank for new cars , fancy clothes , Jewlery and vacations . 5 1 Quote Link to comment Share on other sites More sharing options...
Mainecat Posted December 20, 2017 Author Share Posted December 20, 2017 Just now, Sal Rosenberg said: Good . The house isn't a piggybank for new cars , fancy clothes , Jewlery and vacations . Educations, second homes etc.....yeah those things just fuck up the economy eh? Quote Link to comment Share on other sites More sharing options...
Sal Rosenberg Posted December 20, 2017 Share Posted December 20, 2017 Just now, Mainecat said: Educations, second homes etc.....yeah those things just fuck up the economy eh? Don't give me that crap . You live within a half hour of me , you saw what went on the last time just like I did . And when they all crashed and burned..... yeah , it fucked up the economy all right . The repo man made out good tho. Quote Link to comment Share on other sites More sharing options...
Edmo Posted December 20, 2017 Share Posted December 20, 2017 4 minutes ago, Mainecat said: Educations, second homes etc.....yeah those things just fuck up the economy eh? You can still get those things, you just can’t write off the interest. A write off is not the reason I have my cabin... 1 Quote Link to comment Share on other sites More sharing options...
snoughnut Posted December 20, 2017 Share Posted December 20, 2017 6 minutes ago, Sal Rosenberg said: Good . The house isn't a piggybank for new cars , fancy clothes , Jewlery and vacations . Drop the mic............MC Quote Link to comment Share on other sites More sharing options...
Woodtick Posted December 20, 2017 Share Posted December 20, 2017 8 minutes ago, Sal Rosenberg said: Good . The house isn't a piggybank for new cars , fancy clothes , Jewlery and vacations . You forgot coke and Hookers. Quote Link to comment Share on other sites More sharing options...
Sal Rosenberg Posted December 20, 2017 Share Posted December 20, 2017 Just now, Woodtick said: You forgot coke and Hookers. I'm pretty sure that's still a writeoff , at least I hope so Quote Link to comment Share on other sites More sharing options...
snoughnut Posted December 20, 2017 Share Posted December 20, 2017 1 minute ago, Edmo said: You can still get those things, you just can’t write off the interest. A write off is not the reason I have my cabin... Yes, but if you took out a home equity loan to buy a cabin that's not bad, at least your buying an appreciating asset unlike all the toys, vacations and general "happy fun time" like dumb people were doing prior to the housing crash. I always laugh at the idea of borrowing against an appreciating asset to buy depreciating assets. Quote Link to comment Share on other sites More sharing options...
AKIQPilot Posted December 20, 2017 Share Posted December 20, 2017 10 minutes ago, Sal Rosenberg said: Good . The house isn't a piggybank for new cars , fancy clothes , Jewlery and vacations . MC doesn't get it. Most taxpayers aren't writing off mortgage interest any way. MC. Run the numbers for yourself in the tax table thread. How much will you be saving under Trumps tax plan? Quote Link to comment Share on other sites More sharing options...
xtralettucetomatoe580 Posted December 20, 2017 Share Posted December 20, 2017 22 minutes ago, Edmo said: You can still get those things, you just can’t write off the interest. A write off is not the reason I have my cabin... Exactly. And if it was gone it sure as shit won’t be the reason you don’t get one haha. I don’t think this plan is great, but the left wing msm has demonized and corrupted it to make people think that it will be nothing but crying children, grandmas who can’t pay their bills, and rich peoples satanic worshipping being subsidized. Just unreal. Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted December 20, 2017 Share Posted December 20, 2017 36 minutes ago, Mainecat said: The new tax bill removes the interest write off on home equity loans. good people need to get back to paying off there homes as a priority. way to many driving cars and trucks with 30 yrs of payments 1 Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted December 20, 2017 Share Posted December 20, 2017 25 minutes ago, Woodtick said: You forgot coke and Hookers. um not true company Christmas party entertainment . mast all whores take cards and also sell blow lol Quote Link to comment Share on other sites More sharing options...
Sal Rosenberg Posted December 20, 2017 Share Posted December 20, 2017 Just now, Ez ryder said: good people need to get back to paying off there homes as a priority. way to many driving cars and trucks with 30 yrs of payments I love the ones that proudly proclaim that they paid the cars off Now your paying for that fucking thing for 30 years instead of 5 1 Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted December 20, 2017 Share Posted December 20, 2017 33 minutes ago, Mainecat said: Educations, second homes etc.....yeah those things just fuck up the economy eh? Take the loan on the second home but honestly the luxury items should not be subsidized. Helocs are typically used as an ATM to pay for shit the government should not subsidize as a whole. Shocker mc pissed he can't get more government handouts Quote Link to comment Share on other sites More sharing options...
Ez ryder Posted December 20, 2017 Share Posted December 20, 2017 34 minutes ago, Mainecat said: Educations, second homes etc.....yeah those things just fuck up the economy eh? you should not be buying a second home if you cant buy it with out putting your primary at risk is something should happen Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted December 20, 2017 Share Posted December 20, 2017 27 minutes ago, Woodtick said: You forgot coke and Hookers. That should be tax deductible Quote Link to comment Share on other sites More sharing options...
Whiskey Tango Foxtrot Posted December 20, 2017 Share Posted December 20, 2017 8 minutes ago, Ez ryder said: good people need to get back to paying off there homes as a priority. way to many driving cars and trucks with 30 yrs of payments 7 minutes ago, Ez ryder said: you should not be buying a second home if you cant buy it with out putting your primary at risk is something should happen 7 minutes ago, Sal Rosenberg said: I love the ones that proudly proclaim that they paid the cars off Now your paying for that fucking thing for 30 years instead of 5 Threefer FTW Quote Link to comment Share on other sites More sharing options...
Fireball 440 Posted December 20, 2017 Share Posted December 20, 2017 I have a home equity line of credit. I once bought a snowmobile with it. I also redid the roof on the house, and some hookers and blow of course. Quote Link to comment Share on other sites More sharing options...
Edmo Posted December 20, 2017 Share Posted December 20, 2017 33 minutes ago, snoughnut said: Yes, but if you took out a home equity loan to buy a cabin that's not bad, at least your buying an appreciating asset unlike all the toys, vacations and general "happy fun time" like dumb people were doing prior to the housing crash. I always laugh at the idea of borrowing against an appreciating asset to buy depreciating assets. No I didn’t do that, just saying if you can afford a second home the interest write off is not going to kill you. 1 Quote Link to comment Share on other sites More sharing options...
Anler Posted December 20, 2017 Share Posted December 20, 2017 46 minutes ago, Sal Rosenberg said: Good . The house isn't a piggybank for new cars , fancy clothes , Jewlery and vacations . You are correct! But I used the equity in my house to start a business. And at a time when banks weren't loaning money to businesses. Wouldn't have made it without it. Quote Link to comment Share on other sites More sharing options...
Woodtick Posted December 20, 2017 Share Posted December 20, 2017 9 minutes ago, Sal Rosenberg said: I love the ones that proudly proclaim that they paid the cars off Now your paying for that fucking thing for 30 years instead of 5 Better yet, the people taking 20 year loans on boats and campers? Yep, those are sound investments? Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted December 20, 2017 Share Posted December 20, 2017 Just now, Arctic Cat Destroyer said: You are correct! But I used the equity in my house to start a business. And at a time when banks weren't loaning money to businesses. Wouldn't have made it without it. And most likely because it was used for business it would still be deductible like it is now. In that case the write off is against the business income not the personal side Quote Link to comment Share on other sites More sharing options...
Sal Rosenberg Posted December 20, 2017 Share Posted December 20, 2017 1 minute ago, Arctic Cat Destroyer said: You are correct! But I used the equity in my house to start a business. And at a time when banks weren't loaning money to businesses. Wouldn't have made it without it. I took some on my rental too in 04 but it was to replace cash that I had already pumped into the building . Quote Link to comment Share on other sites More sharing options...
Mainecat Posted December 20, 2017 Author Share Posted December 20, 2017 (edited) 44 minutes ago, AKIQPilot said: MC doesn't get it. Most taxpayers aren't writing off mortgage interest any way. MC. Run the numbers for yourself in the tax table thread. How much will you be saving under Trumps tax plan? Oh I get it......Your savings today will be ten time in debt in less than ten years. every sane conservative knows this. Edited December 20, 2017 by Mainecat Quote Link to comment Share on other sites More sharing options...
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