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Hall of Famer
Joined: Sep 2006
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Wow...did you even read the board a few years ago?? There weren't all that many posters that were happy about what our government was doing if I remember correctly.
And, it's the WAY in which we're spending TRILLIONS of dollars (that we don't even have) that bothers me. If you're going to do it, do it right for God's sake!
#gmstrong #gmlapdance
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Joined: Sep 2006
Posts: 4,480
Hall of Famer
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Hall of Famer
Joined: Sep 2006
Posts: 4,480 |
Quote:
Quote:
My friend bought a house last year and also said he is getting an 8k tax return.
Wow.. I had the wrong impression of that I guess.. thanks
My original thought was the same as yours that it reduced taxable income 8k. The tax credit is truly a tax credit in that you get the 8k back apparently. That is quite a deal.
#gmstrong
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Joined: Sep 2006
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Legend
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Legend
Joined: Sep 2006
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That is a great deal. For first time homebuyers.
And it's paid for how?
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Joined: Sep 2006
Posts: 42,890
Legend
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Legend
Joined: Sep 2006
Posts: 42,890 |
Quote:
My original thought was the same as yours that it reduced taxable income 8k. The tax credit is truly a tax credit in that you get the 8k back apparently. That is quite a deal.
Thats an amazing deal,, and I guess you can still take advantage of it for a short while longer.
But this I am sure of, it's not JUST 1st time homeowners.. if you haven't owned a home in the last 3 year (maybe it's 4, not sure) then you can probably qualify for this tax break..
So, I sold my home in 2005, I could actually qualify I guess. And I'm far from a 1st time buyer.. I should maybe look into buying...
I get the reason for offering this incentive. we need to spur home sales.. I get that.. But if someone makes 50k and they end up not paying ANY income tax, how does that help the country in the long run? I see more pain down the road...
#GMSTRONG
“Everyone is entitled to his own opinion, but not to his own facts.”
Daniel Patrick Moynahan
"Alternative facts hurt us all. Think before you blindly believe."
Damanshot
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