Uncovered: MASSIVE Tax give away in Stimulus Bill

[Tom Paine 1949]

Trump defenders and defenders of these tax loopholes for the extremely wealthy, please note that all the articles The Banker links to are highly suspicious communist, leftist or radical progressive newspapers ... like Forbes.

If Trump were not a real estate mogul on record supporting such real estate depreciation tax benefits, would you today be defending these generous giveaways to the super-rich? If this bill were pushed through by, and these loopholes advocated prominently by, a Democratic President like Hillary Clinton (who moreover — let us imagine — with her family had huge property holdings) would you defend them? I think we all know you would be denouncing her and them!

 

[Nostra]

 

[The Banker]

first off, that is an unsigned bill
secondly, you are making claims based on sources proven to lie.
got anything else before i take away your free speech and put you on ignore?

Trump signed it. You are a sheep. Now go watch more lies on Fox news. Put me on ignore and continue being an uniformed sheep... you should be embarrassed over your stupidity...

got a link to the actual bill ?
the two links in the op are not trustworthy

gimme a fuckin break, what a sad pathetic excuse... This happened. you are such a sheep.

https://www.congress.gov/116/bills/hr748/BILLS-116hr748eas.pdf

go ahead, read an 800+ page bill now... pathetic...

Post the part of the bill that confirms your claims...

You sad pathetic sheep. Clinging to the most pathetic excuse... The fake news excuse is soooo old. Go ahead read the bill...

https://www.congress.gov/116/bills/hr748/BILLS-116hr748eas.pdf

It starts on page 196.

So now what do you have to say now jerk off. You are an embarrassment to hard working Americans, and a total partisan sheep...

Is it not a bipartisan bill?

1) the GOP put this loop hole in the bill. 2) if the democrats would have delayed the bill demanding this insane loophole benefit to the ultra wealthy be removed you wouldn't criticize them for that???

You didn’t answer the question. Also aren’t there monies given the the arts and such in the bill? Many bills have pork in them. What Democrats publicly decried this? Please source. What bank did you work for?

All bills have pork in them is not a valid excuse. We are in a crisis and we don't need to waste an extremely large aount of money- said to be ~$180 Billion- on a handout to the ultra wealthy. The money would be much better spent helping the country.

If you really are non-partisan like you falsely claim to be, then would agree with me. Seeing how you are a partisan hack, you will not criticize the GOP on this, because that goes against your love of the GOP, which you clearly love more than America...

 

[The Banker]

View attachment 316833

Just wondering does warren Buffet pay a lower total tax rate than his secretary???

 

[Nostra]

 

[Nostra]

View attachment 316833

Just wondering does warren Buffet pay a lower total tax rate than his secretary???

Why are you still wondering that? You made the claim. You don’t know the answer?

What color Crayon is your favorite flavor?

 

[Toddsterpatriot]

Still waiting for Meister to tell us who Banker's "masters" are who have him down on his knees.
I know the Republicans who support Trump aren't down on their knees.
They are up in Trump's colon.

.

The 3 amigos of stupidity Meister, Toddster, and Nostra. These people are literally too stupid for words.

Nostra doesn't even understand that Buffet pays a lower tax percentage than his secretary, this is public info, he's released it...

Buffet pays a lower tax percentage than his secretary, this is public info, he's released it...

Cool story, bro.
How much does his secretary earn? What are her capital gains?
How much does he earn? What are his capital gains?

Nice diversion dumb ass, and a pointless one. You were too stupid to understand what the real estate depreciation is, and you have been schooled yet again... son

I have told you this repeatedly, anytime you want to go up against me you better know what the **** you are talking about or you are going to get schooled...

You were too stupid to understand what the real estate depreciation is,

View attachment 316799

This sounds like an ok explanation. Is it wrong?

and you have been schooled yet again... son

Is that when you call it when I laugh at your stupidity?

OK so then using that explanation can you then comprehend that somebody can earn millions in profits from trading stocks or another business yet pay no taxes on those millions, AND still have the real-estate that they own appreciate in value and earn passive rental income, all at the same time using the depreciation loophole to pay no taxes for the year...

Or are you still too stupid to comprehend this??? Because look what you posted it says it in the second paragraph, which is why it is a loop hole.

WHAT YOU DIDN"T COMPREHEND BEFORE: You can claim on your taxes that the real-estate is depreciating, the law allows this, but really it is appreciating, that is why it is a loop hole... Dumbass...

And can you finally admit that Buffet pays a lower total tax rate than his secretary, something that is preposterous... A billionaire pays a lower tax rate than their secretary...

Wow that was enough schooling for one day... Again, next time you go up against me you better have some form of a clue what you are talking about or you will look stupid yet again...

OK so then using that explanation can you then comprehend that somebody can earn millions in profits from trading stocks or another business yet pay no taxes on those millions,

Abso-fuckin-lutely. $1,000,000 in profits minus $1,000,000 in depreciation equals zero.

AND still have the real-estate that they own appreciate in value

Wait.....are you saying that an unrealized capital gain is untaxed? Well.......DUH!

You can claim on your taxes that the real-estate is depreciating

Why don't you explain what depreciation means?

And then you understand that by using the loop hole they can legally claim depreciation on their taxes, when in fact the asset is appreciating, as explained in the forbes article, Hence making it a loop hole that allows them to pay no taxes, yet take no losses (actually they make gains)... which doesn't really make sense... because you didn't seem to understand this fact 15 minutes ago

Why Depreciation Is The Biggest Perk Of Real Estate Investing

There's one characteristic of real estate that makes it an asset worth considering over all others.

www.forbes.com

The value of a real estate investment such as an apartment complex, for example, can appreciate in value over time, thus creating more equity for the owner, while the value of the building depreciates, thus reducing its tax basis.
Making it an appreciable asset that is allowed a depreciation for tax purposes

And then you understand that by using the loop hole they can legally claim depreciation on their taxes,

I understand that depreciation is a valid expense.
I understand that nothing has an infinite useful life, not even an apartment complex.

Do you understand?

You never explained what happens to the depreciation when you sell.

So then you understand that the depreciation, which generally is 3.66% per year, is greatly overstated as the actual depreciation is minimal and generally real-estate assets appreciate in value... Allowing them to take a huge tax deduction that is much larger than any actuall depreciation, hence the loophole/scam..

You do realize that generally speaking real-estate appreciates every year, not depreciates...

I can buy a building for $1 million dollars, and only put up 200k, then I can claim a tax write off of ~$36k per year, then I can making a lot of money on the rents, then I can sell the building typically for much more than I paid...

Why the **** to I get such a large deduction... hence the loophole/scam...

is greatly overstated as the actual depreciation is minimal

What should it be?

You do realize that generally speaking real-estate appreciates every year, not depreciates...

You do realize that useful life is not infinite......

I can buy a building for $1 million dollars, and only put up 200k, then I can claim a tax write off of ~$36k per year, then I can making a lot of money on the rents, then I can sell the building typically for much more than I paid...

And what happens to the depreciation when you sell?

 

[Nostra]

Notice a trend here?

 

[Nostra]

Any of you Dimsocialist morons know what “effective tax rate” means?

 

[Toddsterpatriot]

Wealthy real estate developers like Trump score a huge tax break in the stimulus bill

The $2 trillion coronavirus stimulus bill passed by the Senate provides aid for average consumers and small businesses -- but there's also a lucrative tax break for wealthy real estate developers.

edition.cnn.com

Bonanza for Rich Real Estate Investors, Tucked Into Stimulus Package (Published 2020)

A small change to tax policy could hand $170 billion in tax savings to real estate tycoons.

www.nytimes.com.

https://www.congress.gov/116/bills/hr748/BILLS-116hr748eas.pdf

Currently if you own real estate and other businesses, you get to use depreciation AND improvement/upgrade expenses to write off the profits on your other businesses/income. Meaning If I make $1 million or $1 billion trading stocks or any other business, and I own real estate I can make tax deductions on that $1 million/billion profit by claiming depreciation on real estate or upgrade expenses. This is already a pretty big scam and windfall for real estate investors.

BUTTTTTT
This is capped at $500k, so you could only deduct $500k of that $1 million/billion or whatever the income is... BUTTTTT in this stimulus bill, republicans quietly slipped a provision in that removes the cap completely!!!!

Meaning now you can deduct any amount that you can come up with (even Billions)!!! So basically you can make millions/billions on non-real estate income and pay no taxes on it, by claiming depreciation and upgrades of your real estate investments!!!!

BUTTTT it gets even worse!!! They also made the removal of the cap retroactive for the past 3 years!!! So that means you can deduct the depreciation etc etc from 2018 and the government will send them a massive refund check!!!!

This is estimated to cost the government $180 Billion!! That $180 billion could go to hard working Americans, but it is going to the ultra wealthy. This is indefensible, but we know that Trumpers will somehow defend it, because they are sheep!! Stop crying about being over taxed, because you gladly support policy that lets the ultra wealthy pay no taxes on their millions/billions...

By "MASSIVE tax give away" you mean.....THEY GET TO KEEP MONEY THEY EARNED???

IT'S NOT YOUR ******* MONEY, YOU COCKSUCKING COMMUNIST PIECE OF SHIT!!!

.

AHAHAHA so you think it is fair and smart policy to have millionaires and billionaires pay a much smaller percentage in taxes than the middle class. This excuse is so pathetic and does not age well.

AHAHAHA so you think it is fair and smart policy to have millionaires and billionaires pay a much smaller percentage in taxes than the middle class.

You think millionaires and billionaires pay a much smaller percentage in taxes than the middle class?

Your elevator doesn't go all the way to the top floor, does it?

With this loop hole yes, man you are just stupid...

If they have $1,000,000 in gains and $1,000,000 in depreciation, their income is zero.
How does that make them a millionaire? How much tax should someone pay with $0 income?

Depreciation of real estate seems weird to me. I mean, buildings don’t really depreciate like that. They go up in value.

buildings don’t really depreciate like that.

Three identical buildings, one is ten years old, one is five years old, one is brand new.

Are they identical in value?

That depends, doesn’t it. If they’re identical, then why wouldn’t they be?

If they’re identical, then why wouldn’t they be?

One has been used for 10 years, one for 5 years, one not at all.

Does the fact that a building has been used for 10 years mean it is automatically worth substantially less?

What would you rather own, a 10 year old building or a new building?

You’re making a comparison between two different buildings. That’s not an appropriate comparison since we are talking about the value of one building as it changes over time.

Depreciation reflects the decline in value of something over time.

But buildings don’t always decline in value over time, do they.

You’re making a comparison between two different buildings.

Three actually.

Three identical buildings, one is ten years old, one is five years old, one is brand new.

Depreciation reflects the decline in value of something over time.

Yup. You have one building with a 10 year old elevator, one with a new elevator.
Does the older elevator have the same value? What about a 20 year old elevator?

 

[Nostra]

Yet another fact filled chart showing The Banker to be a clueless, lying idiot.

 

[The Banker]

Still waiting for Meister to tell us who Banker's "masters" are who have him down on his knees.
I know the Republicans who support Trump aren't down on their knees.
They are up in Trump's colon.

.

The 3 amigos of stupidity Meister, Toddster, and Nostra. These people are literally too stupid for words.

Nostra doesn't even understand that Buffet pays a lower tax percentage than his secretary, this is public info, he's released it...

Buffet pays a lower tax percentage than his secretary, this is public info, he's released it...

Cool story, bro.
How much does his secretary earn? What are her capital gains?
How much does he earn? What are his capital gains?

Nice diversion dumb ass, and a pointless one. You were too stupid to understand what the real estate depreciation is, and you have been schooled yet again... son

I have told you this repeatedly, anytime you want to go up against me you better know what the **** you are talking about or you are going to get schooled...

You were too stupid to understand what the real estate depreciation is,

View attachment 316799

This sounds like an ok explanation. Is it wrong?

and you have been schooled yet again... son

Is that when you call it when I laugh at your stupidity?

OK so then using that explanation can you then comprehend that somebody can earn millions in profits from trading stocks or another business yet pay no taxes on those millions, AND still have the real-estate that they own appreciate in value and earn passive rental income, all at the same time using the depreciation loophole to pay no taxes for the year...

Or are you still too stupid to comprehend this??? Because look what you posted it says it in the second paragraph, which is why it is a loop hole.

WHAT YOU DIDN"T COMPREHEND BEFORE: You can claim on your taxes that the real-estate is depreciating, the law allows this, but really it is appreciating, that is why it is a loop hole... Dumbass...

And can you finally admit that Buffet pays a lower total tax rate than his secretary, something that is preposterous... A billionaire pays a lower tax rate than their secretary...

Wow that was enough schooling for one day... Again, next time you go up against me you better have some form of a clue what you are talking about or you will look stupid yet again...

OK so then using that explanation can you then comprehend that somebody can earn millions in profits from trading stocks or another business yet pay no taxes on those millions,

Abso-fuckin-lutely. $1,000,000 in profits minus $1,000,000 in depreciation equals zero.

AND still have the real-estate that they own appreciate in value

Wait.....are you saying that an unrealized capital gain is untaxed? Well.......DUH!

You can claim on your taxes that the real-estate is depreciating

Why don't you explain what depreciation means?

And then you understand that by using the loop hole they can legally claim depreciation on their taxes, when in fact the asset is appreciating, as explained in the forbes article, Hence making it a loop hole that allows them to pay no taxes, yet take no losses (actually they make gains)... which doesn't really make sense... because you didn't seem to understand this fact 15 minutes ago

Why Depreciation Is The Biggest Perk Of Real Estate Investing

There's one characteristic of real estate that makes it an asset worth considering over all others.

www.forbes.com

The value of a real estate investment such as an apartment complex, for example, can appreciate in value over time, thus creating more equity for the owner, while the value of the building depreciates, thus reducing its tax basis.
Making it an appreciable asset that is allowed a depreciation for tax purposes

And then you understand that by using the loop hole they can legally claim depreciation on their taxes,

I understand that depreciation is a valid expense.
I understand that nothing has an infinite useful life, not even an apartment complex.

Do you understand?

You never explained what happens to the depreciation when you sell.

So then you understand that the depreciation, which generally is 3.66% per year, is greatly overstated as the actual depreciation is minimal and generally real-estate assets appreciate in value... Allowing them to take a huge tax deduction that is much larger than any actuall depreciation, hence the loophole/scam..

You do realize that generally speaking real-estate appreciates every year, not depreciates...

I can buy a building for $1 million dollars, and only put up 200k, then I can claim a tax write off of ~$36k per year, then I can making a lot of money on the rents, then I can sell the building typically for much more than I paid...

Why the **** to I get such a large deduction... hence the loophole/scam...

is greatly overstated as the actual depreciation is minimal

What should it be?

You do realize that generally speaking real-estate appreciates every year, not depreciates...

You do realize that useful life is not infinite......

I can buy a building for $1 million dollars, and only put up 200k, then I can claim a tax write off of ~$36k per year, then I can making a lot of money on the rents, then I can sell the building typically for much more than I paid...

And what happens to the depreciation when you sell?

You claim 1031 and pay no taxes... And if you don't claim 1031, the taxes you pay from the appreciation of the asset are a fraction of the gain you get from the write off (longterm capital gains vs the higher income tax)... hence the loophole/scam.

I have friends that invest heavily in real-estate. They all brag and tout how this is a loophole, they constantly tell me about it... Clearly you don't know anybody that invests in real-estate because if you did you would know this is a loophole... The whole reason I knew about this free give away in this bill was because they told me.

Basically like everything with you defend the GOP at all costs, you just don't want to admit that this is a huge loop hole. The same way you didn't realize that Buffet pays a lower tax rate than his secretary... Typical toddster partisan politics over common knowledge.

 

[colfax_m]

Yup. You have one building with a 10 year old elevator, one with a new elevator.
Does the older elevator have the same value? What about a 20 year old elevator?

You’re still comparing different buildings. Depreciation doesn’t reflect the difference value between different buildings, it reflects the different value of one building over time.

 

[Nostra]

Still waiting for Meister to tell us who Banker's "masters" are who have him down on his knees.
I know the Republicans who support Trump aren't down on their knees.
They are up in Trump's colon.

.

The 3 amigos of stupidity Meister, Toddster, and Nostra. These people are literally too stupid for words.

Nostra doesn't even understand that Buffet pays a lower tax percentage than his secretary, this is public info, he's released it...

Buffet pays a lower tax percentage than his secretary, this is public info, he's released it...

Cool story, bro.
How much does his secretary earn? What are her capital gains?
How much does he earn? What are his capital gains?

Nice diversion dumb ass, and a pointless one. You were too stupid to understand what the real estate depreciation is, and you have been schooled yet again... son

I have told you this repeatedly, anytime you want to go up against me you better know what the **** you are talking about or you are going to get schooled...

You were too stupid to understand what the real estate depreciation is,

View attachment 316799

This sounds like an ok explanation. Is it wrong?

and you have been schooled yet again... son

Is that when you call it when I laugh at your stupidity?

OK so then using that explanation can you then comprehend that somebody can earn millions in profits from trading stocks or another business yet pay no taxes on those millions, AND still have the real-estate that they own appreciate in value and earn passive rental income, all at the same time using the depreciation loophole to pay no taxes for the year...

Or are you still too stupid to comprehend this??? Because look what you posted it says it in the second paragraph, which is why it is a loop hole.

WHAT YOU DIDN"T COMPREHEND BEFORE: You can claim on your taxes that the real-estate is depreciating, the law allows this, but really it is appreciating, that is why it is a loop hole... Dumbass...

And can you finally admit that Buffet pays a lower total tax rate than his secretary, something that is preposterous... A billionaire pays a lower tax rate than their secretary...

Wow that was enough schooling for one day... Again, next time you go up against me you better have some form of a clue what you are talking about or you will look stupid yet again...

OK so then using that explanation can you then comprehend that somebody can earn millions in profits from trading stocks or another business yet pay no taxes on those millions,

Abso-fuckin-lutely. $1,000,000 in profits minus $1,000,000 in depreciation equals zero.

AND still have the real-estate that they own appreciate in value

Wait.....are you saying that an unrealized capital gain is untaxed? Well.......DUH!

You can claim on your taxes that the real-estate is depreciating

Why don't you explain what depreciation means?

And then you understand that by using the loop hole they can legally claim depreciation on their taxes, when in fact the asset is appreciating, as explained in the forbes article, Hence making it a loop hole that allows them to pay no taxes, yet take no losses (actually they make gains)... which doesn't really make sense... because you didn't seem to understand this fact 15 minutes ago

Why Depreciation Is The Biggest Perk Of Real Estate Investing

There's one characteristic of real estate that makes it an asset worth considering over all others.

www.forbes.com

The value of a real estate investment such as an apartment complex, for example, can appreciate in value over time, thus creating more equity for the owner, while the value of the building depreciates, thus reducing its tax basis.
Making it an appreciable asset that is allowed a depreciation for tax purposes

And then you understand that by using the loop hole they can legally claim depreciation on their taxes,

I understand that depreciation is a valid expense.
I understand that nothing has an infinite useful life, not even an apartment complex.

Do you understand?

You never explained what happens to the depreciation when you sell.

So then you understand that the depreciation, which generally is 3.66% per year, is greatly overstated as the actual depreciation is minimal and generally real-estate assets appreciate in value... Allowing them to take a huge tax deduction that is much larger than any actuall depreciation, hence the loophole/scam..

You do realize that generally speaking real-estate appreciates every year, not depreciates...

I can buy a building for $1 million dollars, and only put up 200k, then I can claim a tax write off of ~$36k per year, then I can making a lot of money on the rents, then I can sell the building typically for much more than I paid...

Why the **** to I get such a large deduction... hence the loophole/scam...

is greatly overstated as the actual depreciation is minimal

What should it be?

You do realize that generally speaking real-estate appreciates every year, not depreciates...

You do realize that useful life is not infinite......

I can buy a building for $1 million dollars, and only put up 200k, then I can claim a tax write off of ~$36k per year, then I can making a lot of money on the rents, then I can sell the building typically for much more than I paid...

And what happens to the depreciation when you sell?

You claim 1031 and pay no taxes... And if you don't claim 1031, the taxes you pay from the appreciation of the asset are a fraction of the gain you get from the write off... hence the loophole/scam.

I have friends that invest heavily in real-estate. They all brag and tout how this is a loophole, they constantly tell me about it... Clearly you don't know anybody that invests in real-estate because if you did you would know this is a scam... The whole reason I knew about this free give away in this bill was because they told me.

Basically like everything with you defend the GOP at all costs, you just don't want to admit that this is a huge loop hole. The same way you didn't realize that Buffet pays a lower tax rate than his secretary... Typical toddster partisan politics over common knowledge.

“A free giveaway”? Letting people keep the money they earn isn’t A giveaway, Window Licker.

 

[ReinyDays]

Yup nice try, too bad real estate depreciation is greatly over stated in our tax laws, and really the asset actually appreciates. Quizz: When you buy a house or apartment the vast majority of the time does that building tend to increase in value or decrease? Very few people sell a house for less than they paid for it, unless they buy it at the top of a bubble, and if they do they get to write down the loss. Sooo this loop hole let's them double deduct...

You are another partisan hack. You can't admit this is stupid and wrong because you are a sheep... here maybe this will educate you, although I doubt it... I know you can't admit you're wrong so now you are going to franticly try and somehow explain how this is great for America!!! pathetic...

Why Depreciation Is The Biggest Perk Of Real Estate Investing

There's one characteristic of real estate that makes it an asset worth considering over all others.

www.forbes.com

The value of a real estate investment such as an apartment complex, for example, can appreciate in value over time, thus creating more equity for the owner, while the value of the building depreciates, thus reducing its tax basis.
Now, how does real estate investing sound to you? No hidden fees and an appreciable asset that is allowed a depreciation for tax purposes make real estate a no-brainer choice to me

Quizz: When you buy a house or apartment the vast majority of the time does that building tend to increase in value or decrease?

I used the word "asset" and by this I mean "capital asset" ... you're using the word "value" and by this I assume you mean "market value" ... remember our situation here, I've worked many years and paid all the taxes on that income ... the $100,000 I saved is mine, no taxes are due, and this is generally called "capital" ... whatever I do with this capital, when I get that money back, it's still capital. it's still mine ... and it's NOT income. thus it's not taxed again ...

Now you seem to believe that buildings in a tenants' hands are treated with tender mercy ... nothing could be further from the truth, tow an Oldsmobile out of a living room or two and you'll see what I mean ... perhaps 27.5 year expected life span of a rental unit is too short, but it is within reason, I've held residential rental real estate nearly that long and that 27.5 years is fine for the asset class ... and commercial rental real estate is a 40 year asset class ...

I buy a house for $100,000 and rent it out ... I can depreciate the asset by 3.636% per year for the next 27.5 years ... ah, but after 6 or so years, and I've depreciated the house down to $80,000 ... I sell for $200,000 ... the first $80,000 is my capital, it is mine and that isn't taxed again ... the next $120,000 is income, and that "capital gain" IS taxed ... all that $20,000 I deducted off my taxes these past 6 years is now capital gains and taxed at the capital gains rate ...

Taxes for the gain in market value are collected after the asset is sold ...

I read through your link ... the first major mistake is "Unlike paper assets, real estate can be rapidly liquidated and rarely depreciates." ... real estate is the definition of an illiquid asset ... it can take years to sell a $5 million apartment complex, months of inspections once a deal is struck ... how long does it take to sell off $5 million in blue chip stocks? ...

The article speaks to a passive investment in real estate ... that means we hire a management company to take care of the day-to-day affairs of rental units ... and contracting out the repair and maintenance work ... all extra overhead that cuts into our earnings ...

From IRS Publication 946 "How To Depreciate Property" (pg 3):
"Depreciation is an annual income tax deduction that allows you to recover the cost or other basis of certain property over the time you use the property. It is an allowance for the wear and tear, deterioration, or obsolescence of the property."

What's unfair in this system is that capital gains taxes are considerably lower than earned income tax, almost half as much ... tailored to the needs of the Rich who wheel and deal with capital and the gains thereof, with very little earned income ... tremendous tax advantages to this style of business ... plus no self-employment taxes at all ... [ka'ching] ...

If you know this, why are you still filling out a Schedule C? ...

 

[The Banker]

Yet another fact filled chart showing The Banker to be a clueless, lying idiot.


View attachment 316838

Hang on does Buffet pay a lower tax rate than his secretary???

Do real estate investors get to pay a lower tax rate than lower income people???

You're flailing because I schooled you... your charts are meaningless as we have already establish that
1) buffet does indeed pay a lower tax rate than his secretary, something preposterous 2) because of tax loopholes millionaire/billionaire real estate investors do pay lower total tax rates than lower income people.

You told me to give you examples of high income people that pay lower tax rates than lower income people... i did that, you didn't believe me, until like 5 people smacked you around and showed you undeniable facts that that is indeed true...

Just remember this because I have been kicking the shit out of you a lot lately... If you want to go up against me you better know what the **** you are talking about. You are a dumb as dirt partisan hack, so you better do some homework and get your facts inline before you jump out there like you did otherwise you look stupid... like you do now...

 

[Toddsterpatriot]

Still waiting for Meister to tell us who Banker's "masters" are who have him down on his knees.
I know the Republicans who support Trump aren't down on their knees.
They are up in Trump's colon.

.

The 3 amigos of stupidity Meister, Toddster, and Nostra. These people are literally too stupid for words.

Nostra doesn't even understand that Buffet pays a lower tax percentage than his secretary, this is public info, he's released it...

Buffet pays a lower tax percentage than his secretary, this is public info, he's released it...

Cool story, bro.
How much does his secretary earn? What are her capital gains?
How much does he earn? What are his capital gains?

Nice diversion dumb ass, and a pointless one. You were too stupid to understand what the real estate depreciation is, and you have been schooled yet again... son

I have told you this repeatedly, anytime you want to go up against me you better know what the **** you are talking about or you are going to get schooled...

You were too stupid to understand what the real estate depreciation is,

View attachment 316799

This sounds like an ok explanation. Is it wrong?

and you have been schooled yet again... son

Is that when you call it when I laugh at your stupidity?

OK so then using that explanation can you then comprehend that somebody can earn millions in profits from trading stocks or another business yet pay no taxes on those millions, AND still have the real-estate that they own appreciate in value and earn passive rental income, all at the same time using the depreciation loophole to pay no taxes for the year...

Or are you still too stupid to comprehend this??? Because look what you posted it says it in the second paragraph, which is why it is a loop hole.

WHAT YOU DIDN"T COMPREHEND BEFORE: You can claim on your taxes that the real-estate is depreciating, the law allows this, but really it is appreciating, that is why it is a loop hole... Dumbass...

And can you finally admit that Buffet pays a lower total tax rate than his secretary, something that is preposterous... A billionaire pays a lower tax rate than their secretary...

Wow that was enough schooling for one day... Again, next time you go up against me you better have some form of a clue what you are talking about or you will look stupid yet again...

OK so then using that explanation can you then comprehend that somebody can earn millions in profits from trading stocks or another business yet pay no taxes on those millions,

Abso-fuckin-lutely. $1,000,000 in profits minus $1,000,000 in depreciation equals zero.

AND still have the real-estate that they own appreciate in value

Wait.....are you saying that an unrealized capital gain is untaxed? Well.......DUH!

You can claim on your taxes that the real-estate is depreciating

Why don't you explain what depreciation means?

And then you understand that by using the loop hole they can legally claim depreciation on their taxes, when in fact the asset is appreciating, as explained in the forbes article, Hence making it a loop hole that allows them to pay no taxes, yet take no losses (actually they make gains)... which doesn't really make sense... because you didn't seem to understand this fact 15 minutes ago

Why Depreciation Is The Biggest Perk Of Real Estate Investing

There's one characteristic of real estate that makes it an asset worth considering over all others.

www.forbes.com

The value of a real estate investment such as an apartment complex, for example, can appreciate in value over time, thus creating more equity for the owner, while the value of the building depreciates, thus reducing its tax basis.
Making it an appreciable asset that is allowed a depreciation for tax purposes

And then you understand that by using the loop hole they can legally claim depreciation on their taxes,

I understand that depreciation is a valid expense.
I understand that nothing has an infinite useful life, not even an apartment complex.

Do you understand?

You never explained what happens to the depreciation when you sell.

So then you understand that the depreciation, which generally is 3.66% per year, is greatly overstated as the actual depreciation is minimal and generally real-estate assets appreciate in value... Allowing them to take a huge tax deduction that is much larger than any actuall depreciation, hence the loophole/scam..

You do realize that generally speaking real-estate appreciates every year, not depreciates...

I can buy a building for $1 million dollars, and only put up 200k, then I can claim a tax write off of ~$36k per year, then I can making a lot of money on the rents, then I can sell the building typically for much more than I paid...

Why the **** to I get such a large deduction... hence the loophole/scam...

is greatly overstated as the actual depreciation is minimal

What should it be?

You do realize that generally speaking real-estate appreciates every year, not depreciates...

You do realize that useful life is not infinite......

I can buy a building for $1 million dollars, and only put up 200k, then I can claim a tax write off of ~$36k per year, then I can making a lot of money on the rents, then I can sell the building typically for much more than I paid...

And what happens to the depreciation when you sell?

You claim 1031 and pay no taxes... And if you don't claim 1031, the taxes you pay from the appreciation of the asset are a fraction of the gain you get from the write off... hence the loophole/scam.

I have friends that invest heavily in real-estate. They all brag and tout how this is a loophole, they constantly tell me about it... Clearly you don't know anybody that invests in real-estate because if you did you would know this is a scam... The whole reason I knew about this free give away in this bill was because they told me.

Basically like everything with you defend the GOP at all costs, you just don't want to admit that this is a huge loop hole. The same way you didn't realize that Buffet pays a lower tax rate than his secretary... Typical toddster partisan politics over common knowledge.

You claim 1031 and pay no taxes...

It's added back to your basis.

And if you don't claim 1031, the taxes you pay from the appreciation of the asset are a fraction of the gain you get from the write off.

You wrote off $1,000,000 and now you add back $1,000,000.

The same way you didn't realize that Buffet pays a lower tax rate than his secretary...

Still waiting for you to post the secretary's tax return to check Warren's claim.

 

[Nostra]

Yet another fact filled chart showing The Banker to be a clueless, lying idiot.


View attachment 316838

Hang on does Buffet pay a lower tax rate than his secretary???

Do real estate investors get to pay a lower tax rate than lower income people???

You're flailing because I schooled you... your charts are meaningless as we have already establish that
1) buffet does indeed pay a lower tax rate than his secretary, something preposterous 2) because of tax loopholes millionaire/billionaire real estate investors do pay lower total tax rates than lower income people.

You told me to give you examples of high income people that pay lower tax rates than lower income people... i did that, you didn't believe me, until like 5 people smacked you around and showed you undeniable facts that that is indeed true...

Just remember this because I have been kicking the shit out of you a lot lately... If you want to go up against me you better know what the **** you are talking about. You are a dumb as dirt partisan hack, so you better do some homework and get your facts inline before you jump out there like you did otherwise you look stupid... like you do now...

You have one guy out of 243 MILLION taxpayers.

What color crayon is your favorite flavor?

All my fact filled charts prove you are an idiot liar.

How does it feel to get thoroughly destroyed in your own thread?

Keep Digging.

 

[Toddsterpatriot]

Yup. You have one building with a 10 year old elevator, one with a new elevator.
Does the older elevator have the same value? What about a 20 year old elevator?

You’re still comparing different buildings. Depreciation doesn’t reflect the difference value between different buildings, it reflects the different value of one building over time.

You’re still comparing different buildings

Right now I'm comparing different elevators.

Depreciation doesn’t reflect the difference value between different buildings,

If you have 2 identical buildings, one built in 2010, one built last month, do they have the identical value or not?

 

[colfax_m]

Yup. You have one building with a 10 year old elevator, one with a new elevator.
Does the older elevator have the same value? What about a 20 year old elevator?

You’re still comparing different buildings. Depreciation doesn’t reflect the difference value between different buildings, it reflects the different value of one building over time.

You’re still comparing different buildings

Right now I'm comparing different elevators.

Depreciation doesn’t reflect the difference value between different buildings,

If you have 2 identical buildings, one built in 2010, one built last month, do they have the identical value or not?

Irrelevant.