Inflation Reduction Act: 8/12/22 - $740B Bill PASSES, Biden signs it into law!

[FAH1223]

 

[NZA]

If they can repeal or up the limit on salt tax that would be great for me. I'm paying like 35k in property taxes alone.

i hate to see what you pay to heat up that mansion in the winter!

 

[88m3]

I'm not out of touch at all. Either he's got a $2M property in California or New York or whereever or he's got 3-4 properties that are like $500k each and he's paying like $9k in property taxes for each.

And the tweets I posted mentioned the Sanders/Menendez proposal in the Senate which will lift the cap for the SALT deduction for households making under $500k completely. The House proposal putting the cap to $72k for everyone doesn't seem like it will pass the Senate.

You really have no idea what you're talking about.

No, not necessarily at all. There are many places where property taxes alone are above 10k and even as much as 20k on properties in the 400-600k range in NYS and elsewhere.

I own multiple properties and the taxes are a business expense and a deduction the TCJA had no bearing on that. This has no direct impact on my life but it is bad politics and was done intentionally to hurt blue states least we forget.

500k is reasonable but 72k is insulting and going to lead to more animosity in the party(whoever put that forwards is a complete fukking idiot and shouldn't be in congress). Dems need to stop kneecapping their own constituents and what is left of the middle class chasing imaginary voters and creating more fractures within their own party.

The cap expires in 2025 regardless.

 

[FAH1223]

You really have no idea what you're talking about.

No, not necessarily at all. There are many places where property taxes alone are above 10k and even as much as 20k on properties in the 400-600k range in NYS and elsewhere.

I own multiple properties and the taxes are a business expense and a deduction the TCJA had no bearing on that. This has no direct impact on my life but it is bad politics and was done intentionally to hurt blue states least we forget.

500k is reasonable but 72k is insulting and going to lead to more animosity in the party(whoever put that forwards is a complete fukking idiot and shouldn't be in congress). Dems need to stop kneecapping their own constituents and what is left of the middle class chasing imaginary voters and creating more fractures within their own party.

The cap expires in 2025 regardless.

I own property so I’m not ignorant I’m well aware of how the taxes are in NYS and elsewhere. I used the example of Maryland where property taxes are in that $10k and above range for middle class to upper middle class households.

I agree it’s bad politics. Hopefully the Senate proposal is the one in there.

 

[☑︎#VoteDemocrat]

 

[AquaCityBoy]

Democrats still don't have the votes to pass the bill.

This is starting to become their version of 'Infrastructure Week.'

 

[the cac mamba]

We've spent months criticizing legislators for not doing things that benefits their constituents.

Here comes cac mamba being outraged over representatives doing something for their district.

how'd i miss this. imagine pretending like the wealthiest member of congress and career politician isn't a fukking crook

this is like admitting that 2+2=4

this is why democrats laugh in your face. you won't criticize them because all they have to do is "not be the republicans"

 

[mastermind]

I own property so I’m not ignorant I’m well aware of how the taxes are in NYS and elsewhere. I used the example of Maryland where property taxes are in that $10k and above range for middle class to upper middle class households.

I agree it’s bad politics. Hopefully the Senate proposal is the one in there.

Who you responding too?

 

[FAH1223]

Who you responding too?

88m3

 

[mastermind]

88m3

Isn’t he a landlord? He obviously has a vested interested in not paying taxes and probably is a millionaire on paper.

Landlords are one of the leeches in society.

 

[FAH1223]

Vote is tomorrow brehs buckle up … in the House

 

[acri1]

At this point I don't even care.

Regardless of what happens in the House I fully expect Manchin and Sinema to show their asses because they love attention. Wake me up in 2024.

 

[MoneyTron]

Isn’t he a landlord? He obviously has a vested interested in not paying taxes and probably is a millionaire on paper.

Landlords are one of the leeches in society.

OK Chairman Mao.

 

[MoneyTron]

I feel like improving economic factors like this job report this morning give politicians less reason to pass a comprehensive bill. Wouldn’t surprise me to see someone come and say just that.

 

[mastermind]

OK Chairman Mao.

Landlords literally provide nothing for society. They don’t help the economy. They don’t create jobs. They do nothing but make wealthy people money.

The only bigger leach is the financial sector.