You never shopped for a house around Boston have you?
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I lived near Davis square, brother lives in Brighton.
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Then you know 750 isn't a rich-people's house price. Why punish people in MA, NY and CA?
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Most people in those states, even in the major cities, don’t have million dollar mortgages. Also, I don’t place as much importance on inequality as others. But those who do should like this provision.
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There's a big jump between 750 and 1M. At 750 you're still in the upper end of middle class on the coasts for a single family or triple decker as a live-in landlord.
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Assume some money down, and most mortgages over $750k mean homes over $1M.
End of conversation
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Those counties she mentioned have “average” mortgages above that level. Are they 100% rich counties? Or will this provision specifically hit a small cadre of Democratic voters in Blue states with high real estate expenses?
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It’ll hit blue states more than red. NY along with CA & others. But yes, those counties are wealthy. And everyone with a mortgage still gets to deduct interest. Just the amount people with mortgages over $750k can deduct will be the same as people with mortgages of exactly $750k.
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Okay. I can see one positive in the tax bill. You’ve convinced me. I just watch enough HGTV to know that they charge near a million for some otherwise middle class homes on the coasts
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True but I still think it’s ok for a California senator to point out a problem for Californians
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Sure. She can defend her constituents’ financial interests. But others don’t need to, especially people who claim they care about economic inequality.
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$750K doesn’t buy you much in a lot of cities.
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I’m from New York. I know. But my point holds.
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I’m not okay with a legislative “fuck you” to urban homeowners and pitting blue counties against red ones.
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It will be fun if progressive voters are forced to move into conservative districts tho. /sarcasm
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California isn't the only place where the $750K mark hits home (so to speak). Tax reform should include reducing or eliminating deductions to simplify & make the system more equitable, but this
#GOPTaxScam is only of obscene benefit to the ultra rich.Thanks. Twitter will use this to make your timeline better. UndoUndo
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