3. It begs the question of are we taxing where money is taken in? Or are we taxing where it is consumed as discretionary profits? Taxing it when it comes in treats businesses better than people because businesses get to deduct things they have to spend.
#mepolitics #TaxReform
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HELOC (Home Equity Line of Credit) deduction is gone. I've covered this before, but to recap, HELOCS are widely used by the middle class to facilitate a lot of life events.
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Common HELOC uses... 1. At purchase between 2 loans to save PMI 2. Emergency repairs 3. College tuition 4. Job loss 5. Buy out after a break up 6. Start businesses 7. Medical bills These are frequently used for hardships or entrepreneurial risk.
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You know what thios document says to me: I don't always bury a table of contents, but when I do I logically put it on page 510. Also, thank heavens for lasik, because I am not printing out 2 reams of paper for this.
#mepolitics#TaxReformpic.twitter.com/qUguVe3Ueo
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This text is pretty small so I might skimp on photos. Next up is 529s, they are being amended to permit a favorable tax environment for up to $10k per year per student for enrollment at a "public, private or religious elementary or secondary school"
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