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Topic: In other news ...

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Gigem

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Re: In other news ...
« Reply #17864 on: July 11, 2022, 01:03:46 AM »
Fine by me. I never used it. 
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847badgerfan

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Re: In other news ...
« Reply #17865 on: July 11, 2022, 07:22:30 AM »
Quote from: bayareabadger on July 10, 2022, 11:17:18 PM
First things first, roll back the mortgage interest deduction.
I suppose you don't remember a time when ALL interest was deductible?
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847badgerfan

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Re: In other news ...
« Reply #17866 on: July 11, 2022, 07:28:03 AM »
Really?



Who controls the house, senate and white house?

Oh...

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bayareabadger

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Re: In other news ...
« Reply #17867 on: July 11, 2022, 09:14:48 AM »
Quote from: 847badgerfan on July 11, 2022, 07:22:30 AM
I suppose you don't remember a time when ALL interest was deductible?
I don’t because I can’t. Didn’t exist when that was the case.

Man, that would be so market warping these days. It probably was back then too, but now …
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FearlessF

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Re: In other news ...
« Reply #17868 on: July 11, 2022, 09:21:16 AM »
good for the lenders
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GopherRock

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Re: In other news ...
« Reply #17869 on: July 11, 2022, 09:25:05 AM »
The last hike in the standard deduction made the mortgage interest deduction moot for us.
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FearlessF

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Re: In other news ...
« Reply #17870 on: July 11, 2022, 09:25:52 AM »
gotta get a 10 year instead of the 30 year
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GopherRock

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Re: In other news ...
« Reply #17871 on: July 11, 2022, 09:32:07 AM »
Quote from: FearlessF on July 11, 2022, 09:25:52 AM
gotta get a 10 year instead of the 30 year
That was after a refi to a 15 year.
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847badgerfan

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Re: In other news ...
« Reply #17872 on: July 11, 2022, 10:34:49 AM »
Quote from: GopherRock on July 11, 2022, 09:25:05 AM
The last hike in the standard deduction made the mortgage interest deduction moot for us.
Same.

Property taxes are super low in FL, and no state income tax, so we can't get anywhere near $10K anymore.
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847badgerfan

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Re: In other news ...
« Reply #17873 on: July 11, 2022, 10:35:38 AM »
Quote from: bayareabadger on July 11, 2022, 09:14:48 AM
I don’t because I can’t. Didn’t exist when that was the case.

Man, that would be so market warping these days. It probably was back then too, but now …
I used to deduct car payment interest.
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Gigem

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Re: In other news ...
« Reply #17874 on: July 11, 2022, 11:02:40 AM »
Quote from: 847badgerfan on July 11, 2022, 10:34:49 AM
Same.

Property taxes are super low in FL, and no state income tax, so we can't get anywhere near $10K anymore.
No state income tax in Texas either, but property taxes are super high IMO. 

How does Florida compensate for the lack of income tax? 
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847badgerfan

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Re: In other news ...
« Reply #17875 on: July 11, 2022, 11:33:17 AM »
Tourism, Mickey Mouse, etc.
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Gigem

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Re: In other news ...
« Reply #17876 on: July 11, 2022, 12:54:07 PM »
The budget totals $109.9 billion and includes a record $1.24 billion in tax relief for Floridians. Florida will have historic reserves at the end of Fiscal Year 2021-2022, totaling more than $20 billion, and reserves for Fiscal Year 2022-2023 are estimated to begin the year at more than $16 billion.Jun 2, 2022



Governor Ron DeSantis Signs the Freedom First Budget ...



The budget for the state of Florida.  109.9 billion seems kinda low.  

The vast majority of property taxes paid in Tx are for the school district, and then the city taxes.  Of course we have sales tax, 6.25% goes to the state and then up to 1-1.75% (I think the highest rate is 8.25%) goes to the cities and other entities.  
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Gigem

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Re: In other news ...
« Reply #17877 on: July 11, 2022, 12:56:48 PM »
$248.6 billion

Texas's current budget
Texas enacted its FY 2022-2023 biennial budget in June 2021. The enacted budget included $248.6 billion in total spending and $116.4 billion in general fund spending over the two-year period.


Texas - Urban Institute




I know Tx doesn't have double the population of Florida, makes me wonder about the wide discrepancy in the state budgets.  


Wait....scratch that.  I forgot that the budget in Tx is set for two years, so if you halve that 248 billion you end up with about 124 billion per year, not much more than Florida despite having quite a bit more population.  About 5 million more people IIRC.  
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