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Author Topic: Money  (Read 7026 times)

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AGelbert

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Re: Money
« Reply #240 on: December 05, 2017, 05:28:16 pm »
Eddie said:

Quote
It isn't clear to me how the new tax plan will treat interest paid on investment mortgages. In a worst case scenario I might have to change my entire approach to investing and get out of real estate altogether. In recent years real estate has been the only tax advantaged form of investing that has worked well for me. Even though real estate is subject to deflationary collapse, it does have the advantage of being a tangible asset. Stocks can go to zero. I am currently doing pretty well trading the cannabis stocks, but it's very high risk. If they force everyone into the stock market, the bubble will certainly enter the last parabolic up phase, which will inevitably be followed by a  huge collapse in stocks and bonds.  Goodbye retirement, all you boomers.

One of the plans (I think it is the House plan, but I'm not sure) eliminates the interest deduction on any property valued at over $500,000. But it may be worse than that for people like you because only ONE property that you own (and that property must be valued at less that $500,000) can have the interest paid on the mortgage deducted. Of course some accountant will figure a way for you to put properties into a shell corporation that qualifies as a business so the expenses for everything from the toilet paper on up will be "deductible", so accountants will make out like bandits with this new Tax Scam.  :exp-evil:

I'm not in the stock market. I agree the risks associated with stock ownership are astronomical now. BUT, Trump and his wrecking crew are doing everything they can to make it the 'only game in town'.

SCREW TRUMP AND HIS WRECKING CREW! I won't play. I prefer DEATH to submitting to fascist economic coercion.  
Hope deferred maketh the heart sick: but when the desire cometh, it is a tree of life. Pr. 13:12

 

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