Let's get them damn rich yacht owners!!
 

On Sun, 24 Jul 2011 14:43:29 -0400, John H
wrote:

On Sun, 24 Jul 2011 10:47:58 -0400, Wayne B wrote:

On Sun, 24 Jul 2011 06:15:23 -0700 (PDT), John H
wrote:

Eliminate all mortgage interest deductions. That'll do it better.



At least it would be fair across the board. Might not be popular and
might have a somewhat detrimental impact on the housing market. It
would probably help the rental market though.

===========

Home ownership has always been part of the American dream and the
interest rate deduction is a tacit reaffirmation of that goal.
Without question home ownership leads to a more stable citizenship and
increased two parent family formation. Those were worthwhile goals at
the time and still are.

I'm not knocking home ownership. I think it's great. But, if the mortgage interest deduction were
removed, I still think people would want to buy a home. I don't think that would change. However,
for many people, the cost would have to come down far enough to offset the lack of the interest
deduction.

Some maybe, but it would be a huge disincentive.

Let's get them damn rich yacht owners!!
 

On 24/07/2011 1:20 PM, North Star wrote:
On Jul 24, 1:40 pm, wrote:
On 7/24/11 12:07 PM, North Star wrote:





On Jul 24, 10:24 am, John wrote:
On Jul 23, 11:01 pm, North wrote:

On Jul 23, 8:45 pm, John wrote:

http://tinyurl.com/3r5l8ur

I wonder if the Democrats realize that it doesn't take a 'yacht' to have a head, stove, and bed.
Hell, I had that in my 21' Proline.

If they want to do away with a second home mortgage interest deduction, then do it for *all* second
homes.

Why do they pick only on boat owners?

What the 'ell are you whining about??
We don't get a mortgage interest deduction on our income taxes for our
principal home.. let alone cottages or boats.
No wonder the USA is in such deep debt.... no one wants to pay their
fair share of taxes.

Donnie, how do you define 'fair share'. Remember, we have about 47% of
our population who pay *no* federal income taxes.- Hide quoted text -

- Show quoted text -

I would say that anyone earning above the 'poverty level', as defined
by the gov't, should start paying taxes. even if at a minimal rate.

Well isn't that convenient, that would make sure you didn't pay any taxes.- Hide quoted text -

- Show quoted text -

I don't pay any taxes???
I bet I pay as much federal/provincial/municipal taxes as some of the
so called high flyers in here.

I bet you do pay more. Now that I am retired, my taxable income has
plummeted. Zero employment taxes for example, no more CPP/EI 16% or
whatever it is as I don't care nor pay any more. CPP/EI (employee and
employer) is not a small amount of tax.

The only taxable income government sees from me is RRSP withdrawals and
capital gains and dividends. More than enough to live on and not likely
I will ever see the top 40% tax rate again. If I have a low
gains/dividend year, I pull out enough from the RRSP to top up my income
to the low 15% bracket and no more, maximizing tax efficiency. Or if I
have too many realized gains, ease off RRSP withdrawals.

No debts for over 2 decades, I don't need the cash flow for DEBT so I
can keep realized income in the lower taxed regions of income. 100%
legal like too.

The person that really gets the screwing is the middle class worker.
There is good reason too. While property and GST still bite me, I have
the latitude of moving right out of Canada taking what taxes I pay with
me, a worker slave or poor on welfare cannot do this. Economic freedom
has its advantages. No Canadian civic or provincial taxes if you live
in Ecuador or Costa Rica.

Bottom line, government can only screw you where you have no latitude.
Property, utility, gas, sin taxes and earned income taxes are the only
sources they have you over a barrel.

I didn't get away with anything, I paid plenty of taxes for 35 years.
Just saved and invested enough that it is clear I never need to work for
debt-tax slavery again. So why work for the government without the
benefits?

Nice byproduct of no-debt for so long. The money debt slaves paid to
banks went into my account because I was not debt-greedy in my earlier
years.

--
Obama, enslaving Americans with debt-tax slavery for a spending binge.
Doesn't even borrow real money, Bernanke just creates it like a
counterfeiter. .

Let's get them damn rich yacht owners!!
 

On Sun, 24 Jul 2011 10:50:50 -0700 (PDT), John H
wrote:

On Jul 24, 12:34*pm, wrote:
On Sun, 24 Jul 2011 06:15:23 -0700 (PDT), John H









wrote:
On Jul 23, 9:44 pm, Florida Jim wrote:
On 7/23/2011 9:35 PM, wrote:

On Sat, 23 Jul 2011 20:58:14 -0400,
wrote:

On 7/23/11 7:55 PM, LilAbner wrote:
On 7/23/2011 7:45 PM, John H wrote:
http://tinyurl.com/3r5l8ur

I wonder if the Democrats realize that it doesn't take a 'yacht' to
have a head, stove, and bed.
Hell, I had that in my 21' Proline.

If they want to do away with a second home mortgage interest
deduction, then do it for *all* second
homes.
All boats and all second homes over a certain value...that'll do it.
What if you travel around in an RV and trailer a boat?

What if you live on your large yacht and have a very big dinghy?

LOL

Eliminate all mortgage interest deductions. That'll do it better.

At least it would be fair across the board. Might not be popular and
might have a somewhat detrimental impact on the housing market. It
would probably help the rental market though.

Somewhat detrimental? Gee, you think? I think it would be fine to
eliminate it, but not now. It is yet again one of those things that
have a great deal of impact on the middle class and virtually no
effect on the rich.

Gosh, you think?

Doing away with the deduction for boat owners does the same. But the
Democrats have never had a problem screwing with the middle class.

Really? How have the Dems in recent history "screwed" the middle
class? You mean by protecting SS and Medicare from Republican slash
and burn policies?

Let's get them damn rich yacht owners!!
 

On 24/07/2011 1:22 PM, North Star wrote:
On Jul 24, 1:55 pm, Wayne wrote:
On Sun, 24 Jul 2011 09:07:20 -0700 (PDT), North Star

wrote:
Donnie, how do you define 'fair share'. Remember, we have about 47% of
our population who pay *no* federal income taxes.- Hide quoted text -

- Show quoted text -

I would say that anyone earning above the 'poverty level', as defined
by the gov't, should start paying taxes. even if at a minimal rate.

======

Good plan Don. You should move down here and start chipping in.

I'd probably feel rich down there. I could afford to hire
FlatulentJim to mow my lawn! ;-)

Probably would feel rich. Palm Beach condos going cheap, was $1.3M in
2006, now $400K....cheap. But the tax liabilities....whoa. Most states
have 40-60% tax increases on the way. A friend in Oregon just got his
74% property tax increases isn't too happy.

Better off in Costa Rica with the other 75,000 Canadians that enjoy
property tax guarantees for 20 years and their normal rates are not that
bad. USA is going to have to consider this for the home retail market.
Limit my property/utility taxes or no sale.

--
Obama, enslaving Americans with debt-tax slavery for a spending binge.
Doesn't even borrow real money, Bernanke just creates it like a
counterfeiter. .

Let's get them damn rich yacht owners!!
 

On 24/07/2011 11:55 AM, John H wrote:
On Jul 24, 12:07 pm, North wrote:
On Jul 24, 10:24 am, John wrote:









On Jul 23, 11:01 pm, North wrote:

On Jul 23, 8:45 pm, John wrote:

http://tinyurl.com/3r5l8ur

I wonder if the Democrats realize that it doesn't take a 'yacht' to have a head, stove, and bed.
Hell, I had that in my 21' Proline.

If they want to do away with a second home mortgage interest deduction, then do it for *all* second
homes.

Why do they pick only on boat owners?

What the 'ell are you whining about??
We don't get a mortgage interest deduction on our income taxes for our
principal home.. let alone cottages or boats.
No wonder the USA is in such deep debt.... no one wants to pay their
fair share of taxes.

Donnie, how do you define 'fair share'. Remember, we have about 47% of
our population who pay *no* federal income taxes.- Hide quoted text -

- Show quoted text -

I would say that anyone earning above the 'poverty level', as defined
by the gov't, should start paying taxes. even if at a minimal rate.

Well, if I were wanting lots of votes, I'd define 'poverty level' in
such a way that at least 47$ of the population didn't pay taxes and
was beholden to me.

Thing is when income tax was introduced to "screw the rich" only 4% paid
income tax. Over the years, starting with 4% it has crept up to 53%.
And hidden employment taxes from 0% to 12-16% on almost everyone with a
wage earned income.

Thing too is the economy grew faster with no income tax than it has ever
since.

Tax creep. Greedy government statism. Bigger government gets, the less
for the people.
--
Obama, enslaving Americans with debt-tax slavery for a spending binge.
Doesn't even borrow real money, Bernanke just creates it like a
counterfeiter. .

Let's get them damn rich yacht owners!!
 

On 24/07/2011 12:41 PM, Harryk wrote:
In articlee7abb17c-a5e5-4770-83ac-4a2d683a2b03
@bl1g2000vbb.googlegroups.com, says...

On Jul 24, 10:24 am, John wrote:
On Jul 23, 11:01 pm, North wrote:





On Jul 23, 8:45 pm, John wrote:

http://tinyurl.com/3r5l8ur

I wonder if the Democrats realize that it doesn't take a 'yacht' to have a head, stove, and bed.
Hell, I had that in my 21' Proline.

If they want to do away with a second home mortgage interest deduction, then do it for *all* second
homes.

Why do they pick only on boat owners?

What the 'ell are you whining about??
We don't get a mortgage interest deduction on our income taxes for our
principal home.. let alone cottages or boats.
No wonder the USA is in such deep debt.... no one wants to pay their
fair share of taxes.

Donnie, how do you define 'fair share'. Remember, we have about 47% of
our population who pay *no* federal income taxes.- Hide quoted text -

- Show quoted text -

I would say that anyone earning above the 'poverty level', as defined
by the gov't, should start paying taxes. even if at a minimal rate.

Don, you have me intrigued. Please show me, fiscally how this would
work.

Canada defines poverty level as $1038/month. But I defy anyone to live
in Canada for that.

What do the million pus tent families in the US get? But you are less
likely to freeze to death in California.

--
Obama, enslaving Americans with debt-tax slavery for a spending binge.
Doesn't even borrow real money, Bernanke just creates it like a
counterfeiter. .

Let's get them damn rich yacht owners!!
 

On 24/07/2011 12:58 PM, wf3h wrote:
On Sat, 23 Jul 2011 19:55:06 -0400, wrote:

On 7/23/2011 7:45 PM, John H wrote:
http://tinyurl.com/3r5l8ur

I wonder if the Democrats realize that it doesn't take a 'yacht' to have a head, stove, and bed.
Hell, I had that in my 21' Proline.

If they want to do away with a second home mortgage interest deduction, then do it for *all* second
homes.

Why do they pick only on boat owners?
It's all sinners that own RVs, a little shack, in the woods, or any
place other than your home.
I'm far from rich.
If they take away the Mortgage Deduction it will cost cost another
thousand a year, in taxes. that with increased cost of health care, if
they cut Medicare, and no COLAs and or reduced Social Security, would
pretty much put us in the poor house.

the GOP is pushing medicare cuts to finance the tax cuts for the
wealthy. they say it will create jobs

problem is, THIS is the economy AFTER pushing massive tax cuts for the
rich.

I will agree here, no talk of the huge war mongering military spending.
Big fat cow doesn't look like either party is after big cuts there.

--
Obama, enslaving Americans with debt-tax slavery for a spending binge.
Doesn't even borrow real money, Bernanke just creates it like a
counterfeiter. .

Let's get them damn rich yacht owners!!
 

On 24/07/2011 11:50 AM, John H wrote:
On Jul 24, 12:34 pm, wrote:
On Sun, 24 Jul 2011 06:15:23 -0700 (PDT), John H









wrote:
On Jul 23, 9:44 pm, Florida wrote:
On 7/23/2011 9:35 PM, wrote:

On Sat, 23 Jul 2011 20:58:14 -0400,
wrote:

On 7/23/11 7:55 PM, LilAbner wrote:
On 7/23/2011 7:45 PM, John H wrote:
http://tinyurl.com/3r5l8ur

I wonder if the Democrats realize that it doesn't take a 'yacht' to
have a head, stove, and bed.
Hell, I had that in my 21' Proline.

If they want to do away with a second home mortgage interest
deduction, then do it for *all* second
homes.
All boats and all second homes over a certain value...that'll do it.
What if you travel around in an RV and trailer a boat?

What if you live on your large yacht and have a very big dinghy?

LOL

Eliminate all mortgage interest deductions. That'll do it better.

At least it would be fair across the board. Might not be popular and
might have a somewhat detrimental impact on the housing market. It
would probably help the rental market though.

Somewhat detrimental? Gee, you think? I think it would be fine to
eliminate it, but not now. It is yet again one of those things that
have a great deal of impact on the middle class and virtually no
effect on the rich.

Gosh, you think?

Doing away with the deduction for boat owners does the same. But the
Democrats have never had a problem screwing with the middle class.

It is all about debt-tax slavery. The Status of Liberty should be
draped with a huge chain and signage "DEBT". Would be a good prank to pull.

--
Obama, enslaving Americans with debt-tax slavery for a spending binge.
Doesn't even borrow real money, Bernanke just creates it like a
counterfeiter. .

Let's get them damn rich yacht owners!!
 

On 24/07/2011 12:43 PM, John H wrote:
On Sun, 24 Jul 2011 10:47:58 -0400, Wayne wrote:

On Sun, 24 Jul 2011 06:15:23 -0700 (PDT), John H
wrote:

Eliminate all mortgage interest deductions. That'll do it better.



At least it would be fair across the board. Might not be popular and
might have a somewhat detrimental impact on the housing market. It
would probably help the rental market though.

===========

Home ownership has always been part of the American dream and the
interest rate deduction is a tacit reaffirmation of that goal.
Without question home ownership leads to a more stable citizenship and
increased two parent family formation. Those were worthwhile goals at
the time and still are.

I'm not knocking home ownership. I think it's great. But, if the mortgage interest deduction were
removed, I still think people would want to buy a home. I don't think that would change. However,
for many people, the cost would have to come down far enough to offset the lack of the interest
deduction.

They do in Canada. In fact, the wealthiest Canadians I know all have
their homes free and clear of debt for some time. After your last
mortgage payment, you begin to pay yourself to live in your own home.
Real wealth builder strategy.
--
Obama, enslaving Americans with debt-tax slavery for a spending binge.
Doesn't even borrow real money, Bernanke just creates it like a
counterfeiter. .

Let's get them damn rich yacht owners!!
 

On 7/24/2011 4:00 PM, Harryk wrote:
On 7/24/11 3:34 PM, Florida Jim wrote:
On 7/24/2011 3:22 PM, North Star wrote:
On Jul 24, 1:55 pm, Wayne wrote:
On Sun, 24 Jul 2011 09:07:20 -0700 (PDT), North Star

wrote:
Donnie, how do you define 'fair share'. Remember, we have about
47% of
our population who pay *no* federal income taxes.- Hide quoted
text -
- Show quoted text -
I would say that anyone earning above the 'poverty level', as defined
by the gov't, should start paying taxes. even if at a minimal rate.
======

Good plan Don. You should move down here and start chipping in.
I'd probably feel rich down there. I could afford to hire
FlatulentJim to mow my lawn! ;-)

I'm not too proud to offer my lawn mowing services. Problem is you
couldn't afford to make it worth my while.

As if there aren't 100 Latinos who are smarter and harder working than
you are, and ready, willing and able to do landscaping and yard work.
You can't compete for work with decent, hard-working folk like that.

Ah yes. But a certain Cannuckite requested my services and thinks he can
afford them. Besides, if he went the Mexicano route he'd probably be
collared by INS and the IRS.for hiring illegals and not paying the SS
and Medicare taxes. He could face jail time. He's better off letting me
fleece him. Come on down Donnie.
PS If you can't swing the air fare, I'll make you a loan, at reasonable
rates of course.