Post AwPt8tMH78lRC8d13w by Glassjaw@poa.st
(DIR) More posts by Glassjaw@poa.st
(DIR) Post #AwPpnhwy2DFJrwzvma by Humpleupagus@eveningzoo.club
2025-07-23T05:52:49.072303Z
0 likes, 1 repeats
The sale of a primary residence is already largely exempt. 26 USC 121 provides a 250k exemption. 500k for married couples. You have to have used the property as your primary residence for 2 of the last 5 years. So whatever this proposed is, it doesn't change anything for the common man.
(DIR) Post #AwPqGhHfaeYICXVL2O by MasterSimper@eveningzoo.club
2025-07-23T05:58:04.705148Z
1 likes, 1 repeats
Yeah but 250k isnt even most houses
(DIR) Post #AwPqH5nkR2TKEyhIMy by Glassjaw@poa.st
2025-07-23T05:58:07.422875Z
0 likes, 1 repeats
@Oven_Operators_LU_88 No tax on capital gains would be good for millennials and Gen Z if they or their parents/grandparents have/had investments.
(DIR) Post #AwPqgOHOs1rwn0d7HU by Humpleupagus@eveningzoo.club
2025-07-23T06:02:43.773815Z
0 likes, 1 repeats
That's 250k against the gain, e.g. (sales price - (purchase price + adjusted basis + exemption)) * capital gain rate. It's usually $0.00 tax.
(DIR) Post #AwPrJgHzqRm5wHdzPc by Glassjaw@poa.st
2025-07-23T06:09:46.311694Z
0 likes, 1 repeats
@Oven_Operators_LU_88 No.. so the younger ones can inherit some wealth or property without losing a substantial amount in capital gains taxes.
(DIR) Post #AwPrVu7wDq7SKaleyG by LordOfTheKangs@poa.st
2025-07-23T06:12:01.094406Z
2 likes, 1 repeats
@Humpleupagus @MasterSimper @Oven_Operators_LU_88 What if you're an NYC landlord that needs to sell a 24,000 unit nigger zoo so you can buy 100,000 acres in the west bank?đ¤
(DIR) Post #AwPrZcCUoYQXtKfY0W by Humpleupagus@eveningzoo.club
2025-07-23T06:12:40.862907Z
0 likes, 1 repeats
That's my point. Except for maybe increasing inventory, assuming it incentivizes sales, it doesn't help your average Joe. All that will happen is a bunch of gain washing and repurchasing, unless there's a gain wash rule, e.g. no purchases for 90 days. > Sell fully depreciated rental for $500k. Pay no gain. Pay some brokers fees etc.> Buy new $500k property (with a little cash thrown in to make up for sales cost on other property). Get new basis. These cap wash cash buyers will be preferred to financed buyers. That's always the case. Cash is king. Two week close, no underwriting. So I question whether it will even effect inventory. It'll just be a bunch of boomers swaping rental properties like a 1031, only they get to wash the gains (no transfer basis).
(DIR) Post #AwPrcBrRCWeT4M2zOi by Humpleupagus@eveningzoo.club
2025-07-23T06:13:10.632232Z
0 likes, 1 repeats
Asking for a friend? đ
(DIR) Post #AwPrhEBlyOIpjlxdPU by LordOfTheKangs@poa.st
2025-07-23T06:14:04.289292Z
1 likes, 1 repeats
@Humpleupagus @MasterSimper @Oven_Operators_LU_88 No, but the new law is definitely going to benefit the president's friends.
(DIR) Post #AwPrpCpYuHelqENO0u by Humpleupagus@eveningzoo.club
2025-07-23T06:15:31.789913Z
1 likes, 1 repeats
Bingo. This doesn't help the average Joe on any way. I've already surfed the Kali Yuga revenue code in my mind.
(DIR) Post #AwPs0xatNk563q7SrI by LordOfTheKangs@poa.st
2025-07-23T06:17:37.932927Z
2 likes, 1 repeats
@Humpleupagus @MasterSimper @Oven_Operators_LU_88 Isn't it crazy how just a little financial literacy allows you to notice bullshit immediately?
(DIR) Post #AwPs2VxD7MyWurIdyS by Humpleupagus@eveningzoo.club
2025-07-23T06:17:54.010776Z
0 likes, 1 repeats
We agree.
(DIR) Post #AwPs41Z14xTXF2heJU by Glassjaw@poa.st
2025-07-23T06:18:08.635498Z
0 likes, 1 repeats
@Oven_Operators_LU_88 Mine were pretty great to me.. but I suppose thatâs a rare case. I still think a decent amount of millennials will inherit some wealth/property. The number one housing issue is immigration imo.. especially in the form of âasylum seekersâ
(DIR) Post #AwPsKxKS4riV1vxqO8 by ForbiddenDreamer@poa.st
2025-07-23T06:21:16.479022Z
1 likes, 1 repeats
@Humpleupagus @LordOfTheKangs @MasterSimper @Oven_Operators_LU_88 Okay so this does fuck over the younger generations...
(DIR) Post #AwPsOLvx3OUWD37kzg by Humpleupagus@eveningzoo.club
2025-07-23T06:21:52.832819Z
1 likes, 1 repeats
A little? I took income tax, corporate tax, partnership tax, banking law, and securities law in law school. That shit is drilled deep into my soul. Kill me now. đ
(DIR) Post #AwPsTrrrkcQwhPqK6i by Glassjaw@poa.st
2025-07-23T06:22:50.001649Z
0 likes, 1 repeats
@Oven_Operators_LU_88 True, but I donât think the dollar will die as fast as some are predicting. We shall see.
(DIR) Post #AwPseIISLNXrYxFgEy by Humpleupagus@eveningzoo.club
2025-07-23T06:24:44.455742Z
0 likes, 1 repeats
I read a lot of choose your own adventure books as a kid. Ok... đ¤
(DIR) Post #AwPsfpBfXjYzrPo6Lo by LordOfTheKangs@poa.st
2025-07-23T06:25:01.237735Z
0 likes, 1 repeats
@Humpleupagus @MasterSimper @Oven_Operators_LU_88 I studied finance and accounting for 2 years before realizing everything is fake and gay in the business world.I know your painđ
(DIR) Post #AwPsm4PBsLKOnQ6rei by MCMLXVIIOTG@nicecrew.digital
2025-07-23T06:25:03.530032Z
1 likes, 0 repeats
>income taxYou spelled "temporary war measures tax" wrong
(DIR) Post #AwPsm5JYUmPlcETsVk by LordOfTheKangs@poa.st
2025-07-23T06:26:06.360983Z
1 likes, 1 repeats
@MCMLXVIIOTG @Humpleupagus @MasterSimper @Oven_Operators_LU_88 You spelled "improperly ratified constitutional ammendment" incorrectly
(DIR) Post #AwPt2Lh9MQDx3JGxEW by Humpleupagus@eveningzoo.club
2025-07-23T06:29:04.783557Z
0 likes, 1 repeats
Contracts is a 1L class. Contracts, torts, property law, criminal law, constitutional law, civil procedure, legal writing.
(DIR) Post #AwPt8tMH78lRC8d13w by Glassjaw@poa.st
2025-07-23T06:30:14.279410Z
0 likes, 1 repeats
@Oven_Operators_LU_88 BRICS wonât pose a serious threat to it until maybe 2050 imo. Mostly because of the Saudis.. and Israel is going to integrate into BRICS if itâs still around then. Theyâre already talking about abandoning the West for Asia due to their imports being so anti-zionist.. almost like it was the plan.
(DIR) Post #AwPtJEvtkt890FE156 by Glassjaw@poa.st
2025-07-23T06:32:06.743487Z
0 likes, 1 repeats
@Oven_Operators_LU_88 https://www.israelnationalnews.com/news/410921
(DIR) Post #AwPto3smtD7nhzT12u by Glassjaw@poa.st
2025-07-23T06:37:41.297501Z
0 likes, 1 repeats
@Oven_Operators_LU_88 I hope so for Asiaâs sake.. because theyâll get the infinity niggers treatment too. Problem is the majority of Sunni leaders wonât side with Iran on Israel.
(DIR) Post #AwPxnKyCH1rcEMuJSC by nigga_tyreese@poa.st
2025-07-23T07:22:23.107846Z
0 likes, 1 repeats
@Oven_Operators_LU_88 @Glassjaw While China and Russia do not necessarily want Iran to win the war against Israel, it would be disastrous for either and both if Iran loses, so I expect they're giving Iran hundreds of new drones and hypersonics as we speak. Might be wrong of course, but I doubt it. The fall of Syria has been a very great long-term setback for China and Russia both. They won't let the same thing happen even closer to their borders.
(DIR) Post #AwQ2DCYQaKTBTZRUhc by Kalogerosstilitis2RevengeoftheJunta@poa.st
2025-07-23T08:11:51.507095Z
0 likes, 1 repeats
@White_Rabbit @Oven_Operators_LU_88 @Glassjaw China isn't like this because of cbdc. Its like this because its ruled by communists. Bulgaria was exactly like this in the 80s. No digital anything. Anyone who objected to the system couldn't have anything but a cardboard box and food from the trash bin. I have friends eho lived it. Social credit score exists sinxe the 80s. It's called the credit/debit card. Cbdc is only for controlling consumption and tokenizing more shit to slow down the crash. (it ll give 3-5 years tops.)
(DIR) Post #AwQPqkbKEQaPJFcpIu by AsukaNeko@poa.st
2025-07-23T12:36:42.343009Z
0 likes, 1 repeats
@White_Rabbit @Oven_Operators_LU_88 @Glassjaw There would be loss of life if they ever did that to me.