Trump Tax Reform and Home Prices

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iacrenter said:
Here is the latest on where California House Republicans stand on the tax bill:
http://www.latimes.com/politics/la-pol-ca-gop-tax-bill-undecided-20171116-htmlstory.html

If you live in Irvine, please call or email Rep Walters ASAP and let her know you oppose this bill.
https://walters.house.gov/contact/email

3333 Michelson Drive Suite 230
Irvine, CA 92612
Phone: (949) 263-8703
Fax: (949) 263-8704

215 Cannon House Office Building
Washington, DC 20515
Phone: (202) 225-5611
Fax: (202) 225-9177
Click to expand...

She doesn't work for us. Better to vote her out.
 
The only positive that is going to come out of the mess with Trump and the tax reform is this will encourage more people to be involved and try to make a difference with their vote and voice. I for one have never been an active voter but this has really gotten me riled up.
 
It cracks me up the reactions here in Cali.  I have said it numerous times here, that we live in a bubble.  Believe it or not, I have some die hard Repub. clients who are going to pay a ton more in taxes under this plan who tell me they will "gleefully" sign the check just to stick it to the state. At the same time I have some uber-lib , uber-rich clients who have been screaming" raise my taxes!" and now sit in stunned silence when it actually happens and mumble "unfair". 
 
jmoney74 said:
iacrenter said:
Here is the latest on where California House Republicans stand on the tax bill:
http://www.latimes.com/politics/la-pol-ca-gop-tax-bill-undecided-20171116-htmlstory.html

If you live in Irvine, please call or email Rep Walters ASAP and let her know you oppose this bill.
https://walters.house.gov/contact/email

3333 Michelson Drive Suite 230
Irvine, CA 92612
Phone: (949) 263-8703
Fax: (949) 263-8704

215 Cannon House Office Building
Washington, DC 20515
Phone: (202) 225-5611
Fax: (202) 225-9177
Click to expand...

She doesn't work for us. Better to vote her out.
Click to expand...

I agree. If she votes yes, then I will vote her out.
 
What!?  They going to tax free tuition as if it's income?  This is just wrong. >:(
http://www.cnn.com/2017/11/16/opini...-asian-americans-jeff-yang-opinion/index.html

The GOP House version of tax reform ends tax deductions for student loans, while taxing free tuition as if it were ordinary income. The plan would hit people with student loans with tax hikes of up to $625 a year on top of their already-onerous payments, and --- by forcing them to pay taxes on free tuition -- slam grad students with annual taxes reflecting as much as three times the income they get in actual salary.
Click to expand...
 
What does it mean they tax free tuition as ordinary income?  So if you have a scholarship, they determine what your tuition cost would have been and tax you on that amount?

If you have employer reimbursement you are taxed on the entire reimbursement as ordinary income as well?  Tried to google this but "tax free tuition" comes up with a bunch of non-related sites.
 
aquabliss said:
What does it mean they tax free tuition as ordinary income?  So if you have a scholarship, they determine what your tuition cost would have been and tax you on that amount?

If you have employer reimbursement you are taxed on the entire reimbursement as ordinary income as well?  Tried to google this but "tax free tuition" comes up with a bunch of non-related sites.
Click to expand...

PhD students were saying it's possible they will have to pay taxes on $80,000 income even though they only earned $20,000.
 
morekaos said:
. At the same time I have some uber-lib , uber-rich clients who have been screaming" raise my taxes!" and now sit in stunned silence when it actually happens and mumble "unfair".[/b][/size][/color]
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Wait, are you telling me Trump is really an uber liberal?
 
aquabliss said:
What does it mean they tax free tuition as ordinary income?  So if you have a scholarship, they determine what your tuition cost would have been and tax you on that amount?

If you have employer reimbursement you are taxed on the entire reimbursement as ordinary income as well?  Tried to google this but "tax free tuition" comes up with a bunch of non-related sites.
Click to expand...

When you are in graduate school you get deferred waived tuition when you work as a teaching assistant or graduate student researcher. You get a stipend as well that is slightly above poverty levels. The tax plan includes a provision to treat the cost of tuition as income. It's especially bad if you are out-of-state (at least for the first year in CA until you can establish residency). You'd get taxed at a level of making $60K, whereas in reality you are only taking in ~$20K.
 
Loco_local said:
morekaos said:
. At the same time I have some uber-lib , uber-rich clients who have been screaming" raise my taxes!" and now sit in stunned silence when it actually happens and mumble "unfair".[/b][/size][/color]
Click to expand...

Wait, are you telling me Trump is really an uber liberal?
Click to expand...

Not at all...he is what I have always said he is, a deal maker...not an idealist. What I was pointing out is that the conservatives are going along and paying the higher tax while the liberals scream like stuck pigs when they get what they want (hypocrites).
 
It doesn't really matter you know? Already passed with or without the few Repub votes for our state in the House.  Our two Senators will vote against, as expected, so once again our state has little effect on the outcome.  Like all elections the Democrats run the vote here so you can't blame anyone but them for what happens.
 
I don't care if the bill would have passed with or without her vote. All politics is local. Rep Walters now deserves to hear from her constituents.
 
peppy said:
aquabliss said:
What does it mean they tax free tuition as ordinary income?  So if you have a scholarship, they determine what your tuition cost would have been and tax you on that amount?

If you have employer reimbursement you are taxed on the entire reimbursement as ordinary income as well?  Tried to google this but "tax free tuition" comes up with a bunch of non-related sites.
Click to expand...

When you are in graduate school you get deferred waived tuition when you work as a teaching assistant or graduate student researcher. You get a stipend as well that is slightly above poverty levels. The tax plan includes a provision to treat the cost of tuition as income. It's especially bad if you are out-of-state (at least for the first year in CA until you can establish residency). You'd get taxed at a level of making $60K, whereas in reality you are only taking in ~$20K.
Click to expand...


So?

Seriously, I get making education more expensive isn't good, but some one's cow is getting gored when balance the budget.

Or even when you don't balance the budget.

Same shit different day, just a different group of 0.01%ers getting bank from a different part of the 99.99%ers.

It's always been fine with California as long as it was the other guy.

 
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