TD

If you're sick of overpaying taxes because IRS and Laws have not been adjusted since the stone age: updatetaxcodes.com Tell your friends

@theficouple They're only an asset because humans artificially constrain them. You wouldn't like it if air, water, and food were artificially suppressed. Should water be an asset?

People like to debate whether a home is an asset or a liability? But if the home is worth $550,000 & the couple owes $200,000? Their net worth has $350,000 included in it making the home an asset. ...What are we missing?

@GuyTalksFinance @texasrunnerDFW So does every other NIMBY

@texasrunnerDFW Lol well over time I’d expect much more than that $25,000 increase in value.

Let’s say you bought a house last year for $500k using a 20% down payment. And that home value increased by just 5% you made $25,000 in equity. A 25% return on your down payment from doing nothing. You don’t get the ability to make money like this from renting.

@texasrunnerDFW Actually you might be on to something. Kick all the millionaires out of your state. Take short term tax losses. Rebalance and focus on sustainable, equitable growth for long term success

Well, this is one way to increase housing supply in your state… The number of homes priced over $2 million jumped by 65% the day after Democrats passed the tax bill compared to the same data last year

@dchersh Same could be said for houses...

TVs are better and cheaper than 10 years ago. Groceries are worse and more expensive than 10 years ago. Same economy. Same decade. What explains the difference?

I can't wait to see what happens when home values fall sharply for prolonged periods (not just a few years like 2008-2012). So many industries were built on perpetual, infinite growth: - local governments - hardware stores - insurance companies - retail banks - appraisal services - credit rating agencies - school districts Etc etc

A lot of sunbelt markets have charts like this too The 2023 valuations were pure froth based on TRANSIENT supply constraints that are now long gone

@BillsOnReal Myles Garrett for Landon Jackson straight up?

DEAL OR NO DEAL (UNREALISTIC) Bills receive: - Myles Garret Browns receive: - 26th overall pick - 2027 first round pick - 2027 2nd round pick - 2028 3rd round pick - Landon Jackson

@vltg__ @bankertobuilder You forgot @ChickfilA next door

@bankertobuilder fixed

Pleased to announce the world’s first mixed-use data center AI data processing on the first floor, luxury apartments on floors 2-4, and a spacious parking garage for tenants Breaking ground on this just 50 miles outside the city center of Olathe, Kansas A peaceful paradise for commuters!

@PattyMurray Too bad government has a terrible track record managing money or people might actually buy this.

If you make under $184k, you pay a 12.4% Social Security tax rate. Everything after that cap is exempt from the tax. So if you make $1 million per year, you pay about 2.2%. And it's 0.002% for billionaires. If we lifted the cap, Social Security could be funded for decades.

@MorePerfectUS No. If you want to redistribute wealth, incentivize spending. Has the same effect and people normally are happy to oblige.

The top 1% now has $53 trillion in wealth, while the bottom 50% holds less than $5 trillion. How do we close the gap? Actually tax the rich. This is how states are pushing for equitable taxes–and relief for the working class. Thread:

@Chris__X__ No they should. But seniors are also blocking new homes from behind developed. You can't have it both ways.

Tell me I’m wrong, but no senior should lose their home over property taxes after paying it off for 30 years.

@BarbellFi Tweets like this should be blocked (or at least reviewed for intelligence) after being submitted.

95% of millionaires own their house How is there even a rent vs. buy debate? 😂

@chriswithans Good in theory, but any time any legislation tries to make the housing market more fair, it's squashed immediately. Everyone wants to do something until it requires devaluing houses, which is why we're in a mess in the first place.

The obvious wealth and inheritance tax compromise is to just eliminate the inheritance tax entirely and have heirs inherit the original cost basis for anything they inherit. You inherit a home that's now worth $3 million? You should inherit the original $300,000 (or whatever) cost basis. In other words, let capital gains be uniform for everyone's assets.

@BladeoftheS We don't need more taxes (sticks); we need more incentives to increase spending/job creation (carrots)

We don't need a Wealth Tax, we need a 100% tax on all wealth above a certain amount. Lets say $100m, that's more than enough. We need to outlaw outrageous wealth, not just try reduce it a bit. Billionaires are a danger to everything and everyone. As you can clearly see.

@CaryKelly11 Money printing is only part of the story; if it was the full reason all asset prices (including TVs, cheeseburgers, lawn care, etc.) would have inflated at the same rate, as would your salary. But they didn't. NIMBYISM (supply restrictions) is the real reason.

The number of homes in America has doubled in the past 50 years. The amount of cash has increased by 30 times. This is why 50 years ago, a guy with a full-time job at a factory could own his own home and support 2 kids and a stay-at-home wife and today it's unthinkable. Printing money out of thin air is a crime against the working class people.

@YIMBYLAND It's embarrassing we have to celebrate wins like this because of so much NIMBYISM from previous generations. Free market capitalism would have solved this a long time ago.

AUSTIN CITY COUNCIL OFFICIALLY PASSES MISSING MIDDLE ZONING!! Austin will create two new middle housing zones: - Middle Residential (MR): townhomes, cottage courts, single-stair - Mixed Use (MX): mixed use multifamily Huge win for better neighborhoods and more housing options!

@UberHansen Agreed 100% Two quality players with smaller salary expectations >> 1 high risk, high return player.

Unless a stud falls, this is the type of trade the #Bills must look to make. To many holes on their roster to not try and take two swings a players that have the ability to start.

@conorjrogers You're better off finding ways to incentivize spending money than taking more from people. If you take, people find ways around. If you incentivize spending (jobs or personal), it will put money in someone else's pocket.

One of the most radicalizing moments of my life was when I learned that they just stop collecting social security taxes on money earned over like $150K. Like you just suddenly keep 3-6% more money on all money over that threshold.

@thadbrown7 At their ages, most of these guys should be thinking about fishing or a good book...

Let's not miss the forest for the trees on why so many #Bills free agents are still available. The only guy on this list who isn't 30+, about to be 30 or coming off a major knee injury is Damar Hamlin. Easy reasons for teams to not be interested.

@BeardyBrandon You mean this isn't Elon every morning?

Tell me you don't know how rich people operate without telling me you don't know how rich people operate. Rich people, the kind she is talking about, don't stick money in a safe like Scrooge McDuck. They have assets, but don't own them. They own companies, and have shares, or their trust has shares, or... whatever. But this is just pandering to the dumb Americans who think Elon is sitting on a bank account with a trillion dollars. I'm all for finding ways to tax the rich more, but the rich are smarter than this.

@mikesimonsen Hard to file for Unemployment when 1 in 3 Americans aren't even working:

Man, it's hard to look at the unemployment data and see a bearish economy.