Uncovered: MASSIVE Tax give away in Stimulus Bill

[The Banker]

Excellent OP, Mr. Banker!

I also heard about this and was considering an OP, but you beat me to it!

I’ve read some of your other comments and see you are an informed and active trader.

I am not an active market participant, more a run-of-the-mill retired working man and saver brought into the stock market casino by greed and artificially low interest savings rates in recent years. Luckily I strongly felt, even before this virus hit, that we were living through a debt-fueled “Everything Bubble” that was likely to collapse, and protected myself somewhat.

“Crony capitalism” distorts our system in many ways! Pity that our President epitomizes that mindset, even while he fooled his base with demagogic talk about “draining the swamp.”

We may disagree — I don’t know — but I also hold most mainstream Democrats in Congress responsible for much seemingly systemic corruption in our system, much of which the Clintons and Schumers of the party also supported, even before Covid-19. I fear the Great Financial Crisis bailouts and Fed actions of 2007-2009 are not only being repeated on a much larger scale, but that even after Covid-19 we will find ourselves right back where we started, just much poorer and still more under the control of a corrupt crony capitalist oligarchy...

Oh yea both parties are terrible, it's just the GOP is more terrible because of stuff like this (and GOP has some insane irrational inability to hold their politicians accountable as you can see in this thread). One thing you forget when you said: we will find ourselves right back where we started, just much poorer and still more under the control of a corrupt crony capitalist oligarchy...
We also have sooo much more government debt. Pretty much all of Trump's little economic pop was due to deficit fueled stimulus he pumped into the economy, and now with this crash all those gains have evaporated.

That is why i like trading so much, you don't have to worry about any of this crap as much because you can make $ no matter what, unless they shut down the markets like some ass clown suggested on here.

 

[The Banker]

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...

Knew shit like this had to be in there somewhere.

Republicans are fundamentally dishonest. They can't help themselves.

EVERY Dimsocialist voted for it.

Oops!

Ooooops! that's your excuse!!! When the democrats tried to stop these things in this bill you partisan hacks said "the democrats are killing the stimulus bill" now you blame them for not stopping this????

You are a sad pathetic little bitch. This is GOP disgrace on display. You can not man up and criticize anything the GOP does. You are just a GOP sheep bitch!

AHAHAHA!!!

I was responding to a poster blaming the Republicans for this bill. I figured I would throw in the FACT every Dimsocialist voted for it.

Facts really put you on tilt, huh?

yup its always somebody else's fault... always blame somebody else, never hold yourselves accountable... The party of excuses.

The Bush crash wasn't his fault, blame the guy that was president 8 years earlier!
Massive tax loopholes for the ultra wealthy during a mega crisis are fine... In fact it's the democrats fault because they voted for the bill even though the GOP put the loop holes in the bill, and we criticized democrats when they held the bill up to try and make sure there were no loop holes... It's the democrats fault because they did not stop the GOP... you're an embarrassment to America...

 

[BrokeLoser]

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...

This is estimated to cost the government $180 billion? Where does that money come from you fucking retard? From the people who "actually" work. So dumbasses like you who sit on your ass all day collecting welfare, bitching and moaning how fucked your life is, just cant come to grips that maybe some people would like to keep more of their earned income. Cry me a fucking river, you worthless liberal scum.

Why should people not have to pay taxes just because they’re wealthy?

Meanwhile, outside of that fucked up twisted, miserable, pathetic place of LibTardia...
America’s most productive continue to pay the way for degenerate, shameless, begging bottom feeders also known as disgusting, fucked in the head LefTards.
Top 3% of U.S. Taxpayers Paid Majority of Income Tax in 2016

Top 3% of U.S. Taxpayers Paid Majority of Income Tax in 2016

Individual income taxes are the federal government’s single biggest revenue source. In fiscal year 2018, which ended Sept. 30, the individual income tax is expected to bring in roughly $1.7 trillion, or about half of all federal revenues, according to the Congressional Budget Office.

www.bloomberg.com

It would be a false assumption to believe that every wealthy person pays taxes. As we see above; they have nice ways of writing themselves loopholes to avoid doing so.

One of the many reasons Trump has been reluctant to release his taxes.

If I have to pay taxes, so should those wealthier than me.

Stop trying to be confused...I just provided you with a link that cites data from treasury.
Those evil rich whiteys pay your way....haha

Top 3% of U.S. Taxpayers Paid Majority of Income Tax in 2016

Individual income taxes are the federal government’s single biggest revenue source. In fiscal year 2018, which ended Sept. 30, the individual income tax is expected to bring in roughly $1.7 trillion, or about half of all federal revenues, according to the Congressional Budget Office.

www.bloomberg.com

You’re link is aggregate data. It does not reflect the tax rate of every individual in that category.

Are you confused about what that means?

Haha...you’re trying real hard to justify your shameless begging.
Help me out with this data would you please.

More than 44% of Americans pay no federal income tax

The Tax Policy Center estimates how many people paid no federal individual income taxes in 2018.

www.marketwatch.com

 

[colfax_m]

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...

This is estimated to cost the government $180 billion? Where does that money come from you fucking retard? From the people who "actually" work. So dumbasses like you who sit on your ass all day collecting welfare, bitching and moaning how fucked your life is, just cant come to grips that maybe some people would like to keep more of their earned income. Cry me a fucking river, you worthless liberal scum.

Why should people not have to pay taxes just because they’re wealthy?

Meanwhile, outside of that fucked up twisted, miserable, pathetic place of LibTardia...
America’s most productive continue to pay the way for degenerate, shameless, begging bottom feeders also known as disgusting, fucked in the head LefTards.
Top 3% of U.S. Taxpayers Paid Majority of Income Tax in 2016

Top 3% of U.S. Taxpayers Paid Majority of Income Tax in 2016

Individual income taxes are the federal government’s single biggest revenue source. In fiscal year 2018, which ended Sept. 30, the individual income tax is expected to bring in roughly $1.7 trillion, or about half of all federal revenues, according to the Congressional Budget Office.

www.bloomberg.com

It would be a false assumption to believe that every wealthy person pays taxes. As we see above; they have nice ways of writing themselves loopholes to avoid doing so.

One of the many reasons Trump has been reluctant to release his taxes.

If I have to pay taxes, so should those wealthier than me.

Stop trying to be confused...I just provided you with a link that cites data from treasury.
Those evil rich whiteys pay your way....haha

Top 3% of U.S. Taxpayers Paid Majority of Income Tax in 2016

Individual income taxes are the federal government’s single biggest revenue source. In fiscal year 2018, which ended Sept. 30, the individual income tax is expected to bring in roughly $1.7 trillion, or about half of all federal revenues, according to the Congressional Budget Office.

www.bloomberg.com

You’re link is aggregate data. It does not reflect the tax rate of every individual in that category.

Are you confused about what that means?

Haha...you’re trying real hard to justify your shameless begging.
Help me out with this data would you please.

More than 44% of Americans pay no federal income tax

The Tax Policy Center estimates how many people paid no federal individual income taxes in 2018.

www.marketwatch.com

What begging are you referring to? Tell me, in your opinion, should the ultra wealthy pay taxes?

 

[Nostra]

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...

Knew shit like this had to be in there somewhere.

Republicans are fundamentally dishonest. They can't help themselves.

EVERY Dimsocialist voted for it.

Oops!

Ooooops! that's your excuse!!! When the democrats tried to stop these things in this bill you partisan hacks said "the democrats are killing the stimulus bill" now you blame them for not stopping this????

You are a sad pathetic little bitch. This is GOP disgrace on display. You can not man up and criticize anything the GOP does. You are just a GOP sheep bitch!

AHAHAHA!!!

I was responding to a poster blaming the Republicans for this bill. I figured I would throw in the FACT every Dimsocialist voted for it.

Facts really put you on tilt, huh?

yup its always somebody else's fault... always blame somebody else, never hold yourselves accountable... The party of excuses.

The Bush crash wasn't his fault, blame the guy that was president 8 years earlier!
Massive tax loopholes for the ultra wealthy during a mega crisis are fine... In fact it's the democrats fault because they voted for the bill even though the GOP put the loop holes in the bill, and we criticized democrats when they held the bill up to try and make sure there were no loop holes... It's the democrats fault because they did not stop the GOP... you're an embarrassment to America...

Who put them in the bill? Be specific. Give me some names and provide a credible link.

 

[BrokeLoser]

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...

Knew shit like this had to be in there somewhere.

Republicans are fundamentally dishonest. They can't help themselves.

EVERY Dimsocialist voted for it.

Oops!

Ooooops! that's your excuse!!! When the democrats tried to stop these things in this bill you partisan hacks said "the democrats are killing the stimulus bill" now you blame them for not stopping this????

You are a sad pathetic little bitch. This is GOP disgrace on display. You can not man up and criticize anything the GOP does. You are just a GOP sheep bitch!

AHAHAHA!!!

I was responding to a poster blaming the Republicans for this bill. I figured I would throw in the FACT every Dimsocialist voted for it.

Facts really put you on tilt, huh?

yup its always somebody else's fault... always blame somebody else, never hold yourselves accountable... The party of excuses.

The Bush crash wasn't his fault, blame the guy that was president 8 years earlier!
Massive tax loopholes for the ultra wealthy during a mega crisis are fine... In fact it's the democrats fault because they voted for the bill even though the GOP put the loop holes in the bill, and we criticized democrats when they held the bill up to try and make sure there were no loop holes... It's the democrats fault because they did not stop the GOP... you're an embarrassment to America...

Wouldn’t it be easier if you bottom feeders just got a better job?
Why hate those who get to keep more of what they earn/generate?
Anytime I was envious of someone doing better than I was I used it as motivation to move on to the next thing that paid more...Simply put, I got a better job....TA-DA!

 

[ReinyDays]

I'm guessing the OP doesn't know what depreciation is ... that's a normal and necessary expense almost any business experiences ...

I take $15,000 after-tax cash asset and convert it to a $15,000 fencing asset ... this fence will last 15 years and then be garbage, a $0 asset ... every year, I lose $1,000 asset value and this loss is considered a business expense, and therefore tax-deductible ... just the $1,000 per year ... what was once $15,000 in cash is now garbage ...

If we don't allow this, then we will be taxing the original $15,000 twice ... and double taxation is something we try to avoid ...

 

[BrokeLoser]

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...

This is estimated to cost the government $180 billion? Where does that money come from you fucking retard? From the people who "actually" work. So dumbasses like you who sit on your ass all day collecting welfare, bitching and moaning how fucked your life is, just cant come to grips that maybe some people would like to keep more of their earned income. Cry me a fucking river, you worthless liberal scum.

Why should people not have to pay taxes just because they’re wealthy?

Meanwhile, outside of that fucked up twisted, miserable, pathetic place of LibTardia...
America’s most productive continue to pay the way for degenerate, shameless, begging bottom feeders also known as disgusting, fucked in the head LefTards.
Top 3% of U.S. Taxpayers Paid Majority of Income Tax in 2016

Top 3% of U.S. Taxpayers Paid Majority of Income Tax in 2016

Individual income taxes are the federal government’s single biggest revenue source. In fiscal year 2018, which ended Sept. 30, the individual income tax is expected to bring in roughly $1.7 trillion, or about half of all federal revenues, according to the Congressional Budget Office.

www.bloomberg.com

It would be a false assumption to believe that every wealthy person pays taxes. As we see above; they have nice ways of writing themselves loopholes to avoid doing so.

One of the many reasons Trump has been reluctant to release his taxes.

If I have to pay taxes, so should those wealthier than me.

Stop trying to be confused...I just provided you with a link that cites data from treasury.
Those evil rich whiteys pay your way....haha

Top 3% of U.S. Taxpayers Paid Majority of Income Tax in 2016

Individual income taxes are the federal government’s single biggest revenue source. In fiscal year 2018, which ended Sept. 30, the individual income tax is expected to bring in roughly $1.7 trillion, or about half of all federal revenues, according to the Congressional Budget Office.

www.bloomberg.com

You’re link is aggregate data. It does not reflect the tax rate of every individual in that category.

Are you confused about what that means?

Haha...you’re trying real hard to justify your shameless begging.
Help me out with this data would you please.

More than 44% of Americans pay no federal income tax

The Tax Policy Center estimates how many people paid no federal individual income taxes in 2018.

www.marketwatch.com

What begging are you referring to? Tell me, in your opinion, should the ultra wealthy pay taxes?

I’m guessing you want Father Government to rape our most productive for more so you can either be given more free shit or pay less yourself...no?
I keep showing you the “ultra wealthy” are paying your way and not using more public services. Why aren’t you contributing EQUALLY? Put the bong down and do better.

The 1% Pay 37% of Federal Income Taxes

The IRS has released new tax data that demonstrate how much we’ve been fooled by claims that the rich aren’t paying their fair share. Those claims are based on statistical errors and incomplete data. Now that we have the complete data, we gain more perspective. We’ve written a piece in the Wall...

www.aier.org

 

[skews13]

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...

This is estimated to cost the government $180 billion? Where does that money come from you fucking retard? From the people who "actually" work. So dumbasses like you who sit on your ass all day collecting welfare, bitching and moaning how fucked your life is, just cant come to grips that maybe some people would like to keep more of their earned income. Cry me a fucking river, you worthless liberal scum.

Pathetic!!!!!

So you support policy that gives a massive tax break to millionaires and billionaires, so they don't have to pay their fair share in taxes??? You Trump sheep are truly pathetic. You can't criticize anything the GOP does, even something as indefensible as this loop hole.

 

[skews13]

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...

It's indefensible, but another bill is coming, and Pelosi set them up perfectly.

 

[Tom Paine 1949]

It is sad this loophole got snuck into the bill. It is a real stinker.

But of course there is no doubt that much more disgraceful stuff is going on behind the closed doors of the Federal Reserve, where unlimited trillions are being created and dispensed as bailouts to favored financial institutions and to these institutions’ favored private capital Hedge Fund “counterparties.” Leveraged speculative highly profitable investments encouraged by unlimited Fed revolving credit swaps, along with stock buybacks by corporations, is what drove the market in recent years. Common investors have mostly been quite conservative since 2008-2009. Living inside a casino world where outside suckers get happily (then angrily) swindled can be fun for a time, but in the end societies run this way weaken and fall.

Too bad this wasn’t widely pointed out earlier! All industry bailouts should have been separated out and discussed more fully. Probably many more genuinely progressive democrats (certainly Bernie Sanders and Elizabeth Warren) would have screamed about this had they more time to examine the bill, and maybe even a few Republican libertarians would have too. It is clear our President knew about it. Or do Trump supporters think it wasn’t put in precisely to make him and his many big real estate cronies happy? To show him “gratitude” and “respect”?Our “transactional” president at work again?

 

[Mac1958]

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

The New York Times and CNN may not be in the tank for Donald Trump, but neither is "untrustworthy". I realize Trumpkins hate truth tellers with a white hot passion, but facts are facts.

Pretty much, any time you hit them with the facts, they try and claim it's fake news. Meanwhile they believe any lie Fox news tells them...

They epitomize sheep...

You have to remember (and I wish this were hyperbole, but it is not) that we now have a significant portion of the populace existing within a separate, isolated, closed circuit informational universe.

They will only believe what they are told within that universe, and any other source is fake news.

I wish I were kidding. This is a dangerous moment, and we're seeing its potential ramifications play out in real time with this virus.

 

[colfax_m]

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...

This is estimated to cost the government $180 billion? Where does that money come from you fucking retard? From the people who "actually" work. So dumbasses like you who sit on your ass all day collecting welfare, bitching and moaning how fucked your life is, just cant come to grips that maybe some people would like to keep more of their earned income. Cry me a fucking river, you worthless liberal scum.

Why should people not have to pay taxes just because they’re wealthy?

Meanwhile, outside of that fucked up twisted, miserable, pathetic place of LibTardia...
America’s most productive continue to pay the way for degenerate, shameless, begging bottom feeders also known as disgusting, fucked in the head LefTards.
Top 3% of U.S. Taxpayers Paid Majority of Income Tax in 2016

Top 3% of U.S. Taxpayers Paid Majority of Income Tax in 2016

Individual income taxes are the federal government’s single biggest revenue source. In fiscal year 2018, which ended Sept. 30, the individual income tax is expected to bring in roughly $1.7 trillion, or about half of all federal revenues, according to the Congressional Budget Office.

www.bloomberg.com

It would be a false assumption to believe that every wealthy person pays taxes. As we see above; they have nice ways of writing themselves loopholes to avoid doing so.

One of the many reasons Trump has been reluctant to release his taxes.

If I have to pay taxes, so should those wealthier than me.

Stop trying to be confused...I just provided you with a link that cites data from treasury.
Those evil rich whiteys pay your way....haha

Top 3% of U.S. Taxpayers Paid Majority of Income Tax in 2016

Individual income taxes are the federal government’s single biggest revenue source. In fiscal year 2018, which ended Sept. 30, the individual income tax is expected to bring in roughly $1.7 trillion, or about half of all federal revenues, according to the Congressional Budget Office.

www.bloomberg.com

You’re link is aggregate data. It does not reflect the tax rate of every individual in that category.

Are you confused about what that means?

Haha...you’re trying real hard to justify your shameless begging.
Help me out with this data would you please.

More than 44% of Americans pay no federal income tax

The Tax Policy Center estimates how many people paid no federal individual income taxes in 2018.

www.marketwatch.com

What begging are you referring to? Tell me, in your opinion, should the ultra wealthy pay taxes?

I’m guessing you want Father Government to rape our most productive for more so you can either be given more free shit or pay less yourself...no?
I keep showing you the “ultra wealthy” are paying your way and not using more public services. Why aren’t you contributing EQUALLY? Put the bong down and do better.

The 1% Pay 37% of Federal Income Taxes

The IRS has released new tax data that demonstrate how much we’ve been fooled by claims that the rich aren’t paying their fair share. Those claims are based on statistical errors and incomplete data. Now that we have the complete data, we gain more perspective. We’ve written a piece in the Wall...

www.aier.org

No. I’m in the 1% and my marginal tax rate is about 45%. I want to be sure that so long as I’m paying taxes, that every individual in the 0.1% is doing so too.

As I said before, you are posting aggregate data. Your data does not mean every individual in that category pays taxes. The article in the OP demonstrates a way the tax code was written that can give a tremendous advantage to property owners to reduce their tax rates to zero. I have a problem with that as someone who pays a lot of taxes.

 

[Crepitus]

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...

For one to claim any kind of a tax cut is a "tax giveaway", one must first believe all money belongs to the govt.

Idiot.

SO wait you support a tax loop hole give away that lets millionaires and billionaires pay substantially less than their fair share in taxes? Why don't we just say that all billionaires pay 1% in taxes then???

You are a pathetic partisan sheep. You don't care about America, you only care about the GOP and will never criticize anything they do. This is indefensible...


Just admit it, this is a terrible tax loop hole and give away to ultra wealthy people that don't need it in anyway... You can't do that... sheep.

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...

This is estimated to cost the government $180 billion? Where does that money come from you fucking retard? From the people who "actually" work. So dumbasses like you who sit on your ass all day collecting welfare, bitching and moaning how fucked your life is, just cant come to grips that maybe some people would like to keep more of their earned income. Cry me a fucking river, you worthless liberal scum.

Pathetic!!!!!

So you support policy that gives a massive tax break to millionaires and billionaires, so they don't have to pay their fair share in taxes??? You Trump sheep are truly pathetic. You can't criticize anything the GOP does, even something as indefensible as this loop hole.

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...

Knew shit like this had to be in there somewhere.

Republicans are fundamentally dishonest. They can't help themselves.

Meanwhile, outside of that fucked up twisted, miserable, pathetic place of LibTardia...
America’s most productive continue to pay the way for degenerate, begging bottom feeders also known as disgusting, fucked in the head LefTards.
Top 3% of U.S. Taxpayers Paid Majority of Income Tax in 2016

Top 3% of U.S. Taxpayers Paid Majority of Income Tax in 2016

Individual income taxes are the federal government’s single biggest revenue source. In fiscal year 2018, which ended Sept. 30, the individual income tax is expected to bring in roughly $1.7 trillion, or about half of all federal revenues, according to the Congressional Budget Office.

www.bloomberg.com

That's because they made all the money.

 

[BrokeLoser]

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...

This is estimated to cost the government $180 billion? Where does that money come from you fucking retard? From the people who "actually" work. So dumbasses like you who sit on your ass all day collecting welfare, bitching and moaning how fucked your life is, just cant come to grips that maybe some people would like to keep more of their earned income. Cry me a fucking river, you worthless liberal scum.

Why should people not have to pay taxes just because they’re wealthy?

Meanwhile, outside of that fucked up twisted, miserable, pathetic place of LibTardia...
America’s most productive continue to pay the way for degenerate, shameless, begging bottom feeders also known as disgusting, fucked in the head LefTards.
Top 3% of U.S. Taxpayers Paid Majority of Income Tax in 2016

Top 3% of U.S. Taxpayers Paid Majority of Income Tax in 2016

Individual income taxes are the federal government’s single biggest revenue source. In fiscal year 2018, which ended Sept. 30, the individual income tax is expected to bring in roughly $1.7 trillion, or about half of all federal revenues, according to the Congressional Budget Office.

www.bloomberg.com

It would be a false assumption to believe that every wealthy person pays taxes. As we see above; they have nice ways of writing themselves loopholes to avoid doing so.

One of the many reasons Trump has been reluctant to release his taxes.

If I have to pay taxes, so should those wealthier than me.

Stop trying to be confused...I just provided you with a link that cites data from treasury.
Those evil rich whiteys pay your way....haha

Top 3% of U.S. Taxpayers Paid Majority of Income Tax in 2016

Individual income taxes are the federal government’s single biggest revenue source. In fiscal year 2018, which ended Sept. 30, the individual income tax is expected to bring in roughly $1.7 trillion, or about half of all federal revenues, according to the Congressional Budget Office.

www.bloomberg.com

You’re link is aggregate data. It does not reflect the tax rate of every individual in that category.

Are you confused about what that means?

Haha...you’re trying real hard to justify your shameless begging.
Help me out with this data would you please.

More than 44% of Americans pay no federal income tax

The Tax Policy Center estimates how many people paid no federal individual income taxes in 2018.

www.marketwatch.com

What begging are you referring to? Tell me, in your opinion, should the ultra wealthy pay taxes?

I’m guessing you want Father Government to rape our most productive for more so you can either be given more free shit or pay less yourself...no?
I keep showing you the “ultra wealthy” are paying your way and not using more public services. Why aren’t you contributing EQUALLY? Put the bong down and do better.

The 1% Pay 37% of Federal Income Taxes

The IRS has released new tax data that demonstrate how much we’ve been fooled by claims that the rich aren’t paying their fair share. Those claims are based on statistical errors and incomplete data. Now that we have the complete data, we gain more perspective. We’ve written a piece in the Wall...

www.aier.org

No. I’m in the 1% and my marginal tax rate is about 45%. I want to be sure that so long as I’m paying taxes, that every individual in the 0.1% is doing so too.

As I said before, you are posting aggregate data. Your data does not mean every individual in that category pays taxes. The article in the OP demonstrates a way the tax code was written that can give a tremendous advantage to property owners to reduce their tax rates to zero. I have a problem with that as someone who pays a lot of taxes.

Sorry bud...you’ve already exposed yourself...you have no credibility, you won’t be able to sell that bullshit. NOBODY here believes you’re productive...NOBODY productive begs to pay a higher tax rate...NOBODY.

 

[MAGAman]

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...

A 2-6$Trillion spending might actually have a giveaway in it?

Oh come on now.....

 

[The Banker]

I'm guessing the OP doesn't know what depreciation is ... that's a normal and necessary expense almost any business experiences ...

I take $15,000 after-tax cash asset and convert it to a $15,000 fencing asset ... this fence will last 15 years and then be garbage, a $0 asset ... every year, I lose $1,000 asset value and this loss is considered a business expense, and therefore tax-deductible ... just the $1,000 per year ... what was once $15,000 in cash is now garbage ...

If we don't allow this, then we will be taxing the original $15,000 twice ... and double taxation is something we try to avoid ...

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...

Council Post: 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

 

[BrokeLoser]

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...

For one to claim any kind of a tax cut is a "tax giveaway", one must first believe all money belongs to the govt.

Idiot.

SO wait you support a tax loop hole give away that lets millionaires and billionaires pay substantially less than their fair share in taxes? Why don't we just say that all billionaires pay 1% in taxes then???

You are a pathetic partisan sheep. You don't care about America, you only care about the GOP and will never criticize anything they do. This is indefensible...


Just admit it, this is a terrible tax loop hole and give away to ultra wealthy people that don't need it in anyway... You can't do that... sheep.

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...

This is estimated to cost the government $180 billion? Where does that money come from you fucking retard? From the people who "actually" work. So dumbasses like you who sit on your ass all day collecting welfare, bitching and moaning how fucked your life is, just cant come to grips that maybe some people would like to keep more of their earned income. Cry me a fucking river, you worthless liberal scum.

Pathetic!!!!!

So you support policy that gives a massive tax break to millionaires and billionaires, so they don't have to pay their fair share in taxes??? You Trump sheep are truly pathetic. You can't criticize anything the GOP does, even something as indefensible as this loop hole.

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...

Knew shit like this had to be in there somewhere.

Republicans are fundamentally dishonest. They can't help themselves.

Meanwhile, outside of that fucked up twisted, miserable, pathetic place of LibTardia...
America’s most productive continue to pay the way for degenerate, begging bottom feeders also known as disgusting, fucked in the head LefTards.
Top 3% of U.S. Taxpayers Paid Majority of Income Tax in 2016

Top 3% of U.S. Taxpayers Paid Majority of Income Tax in 2016

Individual income taxes are the federal government’s single biggest revenue source. In fiscal year 2018, which ended Sept. 30, the individual income tax is expected to bring in roughly $1.7 trillion, or about half of all federal revenues, according to the Congressional Budget Office.

www.bloomberg.com

That's because they made all the money.

“All the money”...haha
How much was in that pool to be made? Was there a predetermined amount that only wealthy folks had the ability to earn?

 

[The Banker]

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...

A 2-6$Trillion spending might actually have a giveaway in it?

Oh come on now.....

Well at least you can admit it, better than most others on here. But why put such a large give away in this when the money could be better spent of things that help America???

We have a major crisis on our hands and we need to spend our resources wisely, not stupidly.

You want to say MAGA how is this making America great?

 

[colfax_m]

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...

This is estimated to cost the government $180 billion? Where does that money come from you fucking retard? From the people who "actually" work. So dumbasses like you who sit on your ass all day collecting welfare, bitching and moaning how fucked your life is, just cant come to grips that maybe some people would like to keep more of their earned income. Cry me a fucking river, you worthless liberal scum.

Why should people not have to pay taxes just because they’re wealthy?

Meanwhile, outside of that fucked up twisted, miserable, pathetic place of LibTardia...
America’s most productive continue to pay the way for degenerate, shameless, begging bottom feeders also known as disgusting, fucked in the head LefTards.
Top 3% of U.S. Taxpayers Paid Majority of Income Tax in 2016

Top 3% of U.S. Taxpayers Paid Majority of Income Tax in 2016

Individual income taxes are the federal government’s single biggest revenue source. In fiscal year 2018, which ended Sept. 30, the individual income tax is expected to bring in roughly $1.7 trillion, or about half of all federal revenues, according to the Congressional Budget Office.

www.bloomberg.com

It would be a false assumption to believe that every wealthy person pays taxes. As we see above; they have nice ways of writing themselves loopholes to avoid doing so.

One of the many reasons Trump has been reluctant to release his taxes.

If I have to pay taxes, so should those wealthier than me.

Stop trying to be confused...I just provided you with a link that cites data from treasury.
Those evil rich whiteys pay your way....haha

Top 3% of U.S. Taxpayers Paid Majority of Income Tax in 2016

Individual income taxes are the federal government’s single biggest revenue source. In fiscal year 2018, which ended Sept. 30, the individual income tax is expected to bring in roughly $1.7 trillion, or about half of all federal revenues, according to the Congressional Budget Office.

www.bloomberg.com

You’re link is aggregate data. It does not reflect the tax rate of every individual in that category.

Are you confused about what that means?

Haha...you’re trying real hard to justify your shameless begging.
Help me out with this data would you please.

More than 44% of Americans pay no federal income tax

The Tax Policy Center estimates how many people paid no federal individual income taxes in 2018.

www.marketwatch.com

What begging are you referring to? Tell me, in your opinion, should the ultra wealthy pay taxes?

I’m guessing you want Father Government to rape our most productive for more so you can either be given more free shit or pay less yourself...no?
I keep showing you the “ultra wealthy” are paying your way and not using more public services. Why aren’t you contributing EQUALLY? Put the bong down and do better.

The 1% Pay 37% of Federal Income Taxes

The IRS has released new tax data that demonstrate how much we’ve been fooled by claims that the rich aren’t paying their fair share. Those claims are based on statistical errors and incomplete data. Now that we have the complete data, we gain more perspective. We’ve written a piece in the Wall...

www.aier.org

No. I’m in the 1% and my marginal tax rate is about 45%. I want to be sure that so long as I’m paying taxes, that every individual in the 0.1% is doing so too.

As I said before, you are posting aggregate data. Your data does not mean every individual in that category pays taxes. The article in the OP demonstrates a way the tax code was written that can give a tremendous advantage to property owners to reduce their tax rates to zero. I have a problem with that as someone who pays a lot of taxes.

Sorry bud...you’ve already exposed yourself...you have no credibility, you won’t be able to sell that bullshit. NOBODY here believes you’re productive...NOBODY productive begs to pay a higher tax rate...NOBODY.

Im not begging to pay a higher rate. I’m pissed that the ultra-wealthy can write the law to get out of paying any taxes.

How do you feel about that?