LogFAQs > #881007295

LurkerFAQs, Active DB, Database 1 ( 03.09.2017-09.16.2017 ), DB2, DB3, DB4, DB5, DB6, DB7, DB8, DB9, DB10, DB11, DB12, Clear

Topic List	Page List: 1
Topic	good article about upper middle class entitlement in 'murica
Drpooplol 06/13/17 12:51:20 PM #49:	Darkman124 posted... you might want to actually look at what kinds of homes this theoretical 50k household can afford to buy then see how much interest and property tax they'd be paying and sum that with their state tax to see if they'd even be using the itemized deduction at all by a very crude estimate, it would be around $4,500 for a $150,000 home. But this doesn't account for interest amortization of the loan. So if it were a single person, they would be $1,800 short of being able to itemize. Which isn't too unlikely but even then, you have to think of the opportunity cost of not being able to deduct that, which for a single person making that much money, isn't large at all. --- "Or do you want to know more about my vagina?" LIE "No" <cite>Drpooplol posted [p:881007295] in good artic... [t:75455207]...</cite> <quote><cite>Darkman124 posted...</cite> <quote>you might want to actually look at what kinds of homes this theoretical 50k household can afford to buy then see how much interest and property tax they'd be paying and sum that with their state tax to see if they'd even be using the itemized deduction at all</quote> by a very crude estimate, it would be around $4,500 for a $150,000 home. But this doesn't account for interest amortization of the loan. So if it were a single person, they would be $1,800 short of being able to itemize. Which isn't too unlikely but even then, you have to think of the opportunity cost of not being able to deduct that, which for a single person making that much money, isn't large at all. --- "Or do you want to know more about my vagina?" LIE "No"</quote> ... Copied to Clipboard!
Topic List	Page List: 1