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re: If and it's a huge if, dems win control of senate & presidency they will tax savings and
Posted on 9/8/19 at 9:13 pm to LSUTigersVCURams
Posted on 9/8/19 at 9:13 pm to LSUTigersVCURams
quote:
How can you tax home equity? That doesn’t even make sense.
Your house is worth $300K, you only owe $100K on your mortgage
You have $200K in equity; therefore you OWE the government 10% (or whatever) of that equity ON TOP of what you pay in other taxes
Fork over $20K NOW or we take your home
See how that work?
5
Posted on 9/8/19 at 9:15 pm to dcbl
That’s absurd if anyone is seriously talking about doing that.
Posted on 9/8/19 at 9:16 pm to dcbl
So a federal property tax in a sense? They can get bent
Posted on 9/8/19 at 9:18 pm to dcbl
Talk about crushing the real estate market. That basically makes the population serfs to the gov’t.
Posted on 9/9/19 at 9:08 am to dcbl
quote:
Your house is worth $300K, you only owe $100K on your mortgage
You have $200K in equity; therefore you OWE the government 10% (or whatever) of that equity ON TOP of what you pay in other taxes
Fork over $20K NOW or we take your home
Talk about a way to crash the housing market and cause rent prices to skyrocket
Posted on 9/9/19 at 8:57 pm to dcbl
That’s ridiculous. Home equity tax will never happen. And if the idiots somehow do force this through, what would stop the homeowner from taking out a home equity loan to cancel out their equity? Dumb policy proposal would be dumb.
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