For all the MAGAt Trumpeteers and Lie-brul commies to post their wearisome screeds.
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Study: the Trump tax cut had no effect on GDP, wages, or growth
The growth effects tend to show a relatively small (if any) first-year effect on the economy,” said the report from the CRS, a nonpartisan think tank that produces economic analyses for members of Congress.
Though Trump bragged that the tax cuts would pay for themselves, the report found that the growth spurred by the tax cuts amounted to 5% or less of the growth needed to fully offset the revenue loss from the Act,” or just 95% short of Trump’s estimate.
I can tell you this, beach rentals are down in our area this year. That can mean two things: economy is so good people are going to Europe, or economy is on downturn and they are not vacationing or going on cheaper vacations.
Considering the new limits on deductions for property and taxes, I'd be surprised if the folks that do summer rentals on the NJ shore aren't taking a hit, and anywhere else that kind of business happens.
FSchmertz wrote: ↑Fri May 31, 2019 3:45 pm
Considering the new limits on deductions for property and taxes, I'd be surprised if the folks that do summer rentals on the NJ shore aren't taking a hit, and anywhere else that kind of business happens.
Economics would say those costs get passed along, but you can't do that when people aren't renting. We own at a good price, so we make money, but I do a lot of the work myself. If we were paying for all those things we'd be at break even.
FSchmertz wrote: ↑Fri May 31, 2019 3:45 pm
Considering the new limits on deductions for property and taxes, I'd be surprised if the folks that do summer rentals on the NJ shore aren't taking a hit, and anywhere else that kind of business happens.
I grew up in Manasquan, NJ since the 60's. All the beach properties were just summer bungalows and basically the town was just a little sleepy fishing town. If my parents had just a little foresight and bought up some of those beach bungalows they would be worth multi-millions now. damn it.
FSchmertz wrote: ↑Fri May 31, 2019 3:45 pm
Considering the new limits on deductions for property and taxes, I'd be surprised if the folks that do summer rentals on the NJ shore aren't taking a hit, and anywhere else that kind of business happens.
I grew up in Manasquan, NJ since the 60's. All the beach properties were just summer bungalows and basically the town was just a little sleepy fishing town. If my parents had just a little foresight and bought up some of those beach bungalows they would be worth multi-millions now. damn it.
Then you could say you're a genius in the real estate business and even have ghost writers write "autobiographical" books about you saying what a stable genius you are?
P.S. And you wouldn't even have to lose billions to get there!
FSchmertz wrote: ↑Fri May 31, 2019 3:45 pm
Considering the new limits on deductions for property and taxes, I'd be surprised if the folks that do summer rentals on the NJ shore aren't taking a hit, and anywhere else that kind of business happens.
Rental units are different. There aren't any limits to morg interest and taxes, that's only on your primary residence.
FSchmertz wrote: ↑Fri May 31, 2019 3:45 pm
Considering the new limits on deductions for property and taxes, I'd be surprised if the folks that do summer rentals on the NJ shore aren't taking a hit, and anywhere else that kind of business happens.
Rental units are different. There aren't any limits to morg interest and taxes, that's only on your primary residence.
That seems backwards to me, I'd think it would be better to promote primary home ownership.