Forum Discussion
JRscooby
Nov 21, 2019Explorer II
For the good people that are so opposed to giving "free stuff" to the undeserving. Do you ever compare need? Now some members may think I'm aiming at them. So if you think it might sting do not look at your own taxes, check the value of your deductions!
For example, do you think somebody earning a taxable income over $600,000.00 a year needs help from the government to keep a roof over their head?
Same somebody owes $5,000,000 on their house and is paying 2% interest on their home loan. That interest is $100,000 right? That is $100,000 the home owner does not need to pay the 37% tax on. Using the $600 month rent that was thrown at me, that deduction would rent 5 apartments for a year.
Now I know my numbers my be off, and I'm sure the calculations are simplistic. But I bet if you where to plug in your real numbers you will need to force your eyes closed...
For example, do you think somebody earning a taxable income over $600,000.00 a year needs help from the government to keep a roof over their head?
Same somebody owes $5,000,000 on their house and is paying 2% interest on their home loan. That interest is $100,000 right? That is $100,000 the home owner does not need to pay the 37% tax on. Using the $600 month rent that was thrown at me, that deduction would rent 5 apartments for a year.
Now I know my numbers my be off, and I'm sure the calculations are simplistic. But I bet if you where to plug in your real numbers you will need to force your eyes closed...
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