the old, lame idea was that Trump didn't obstruct justice.

the NEW HOTNESS is that if the president does it, it's not obstructing justice:

John Dowd, President Trump's outside lawyer, outlined to me a new and highly controversial defense/theory in the Russia probe: A president cannot be guilty of obstruction of justice.

The "President cannot obstruct justice because he is the chief law enforcement officer under [the Constitution's Article II] and has every right to express his view of any case," Dowd claims.

PhillieMooDo wrote:Pals, are the mortgage interest and student loan interest right offs really getting killed?

Yes and no. As I understand it, the mortgage interest deduction will be limited to the first $500,000 of any new purchases and, unfortunately for most of us here, the mortgage interest deduction on our second homes is fully eliminated. Oh you don't have a second home? Yeah, me neither. I'm barely holding onto my first home, at this point.

pacino wrote:the old, lame idea was that Trump didn't obstruct justice.

the NEW HOTNESS is that if the president does it, it's not obstructing justice:

John Dowd, President Trump's outside lawyer, outlined to me a new and highly controversial defense/theory in the Russia probe: A president cannot be guilty of obstruction of justice.

The "President cannot obstruct justice because he is the chief law enforcement officer under [the Constitution's Article II] and has every right to express his view of any case," Dowd claims.

Interesting that they would essentially take the view of the only President in US history to have resigned.

the undying fealty to law enforcement doesn't seem to extend to the FBI

Donald Trump wrote:Democrats refusal to give even one vote for massive Tax Cuts is why we need Republican Roy Moore to win in Alabama. We need his vote on stopping crime, illegal immigration, Border Wall, Military, Pro Life, V.A., Judges 2nd Amendment and more. No to Jones, a Pelosi/Schumer Puppet!

We all know what he is saying here, but the way his stubby fingers hit the phone it makes it sound like he is support an alleged pedophile to vote on stopping the border wall, military, pro-life, Veterans Affairs, Judges, and the 2nd Amendment.

Donald Trump wrote:Putting Pelosi/Schumer Liberal Puppet Jones into office in Alabama would hurt our great Republican Agenda of low on taxes, tough on crime, strong on military and borders...& so much more. Look at your 401-k’s since Election. Highest Stock Market EVER! Jobs are roaring back!

He really wants to push Americans towards rooting for the fiscal collapse of the system.

Support for a pedophile. Lows only get lower.

traderdave wrote:

PhillieMooDo wrote:Pals, are the mortgage interest and student loan interest right offs really getting killed?

Yes and no. As I understand it, the mortgage interest deduction will be limited to the first $500,000 of any new purchases and, unfortunately for most of us here, the mortgage interest deduction on our second homes is fully eliminated. Oh you don't have a second home? Yeah, me neither. I'm barely holding onto my first home, at this point.

Re: mortgage interest. This is a good policy change in isolation.

traderdave wrote:

PhillieMooDo wrote:Pals, are the mortgage interest and student loan interest right offs really getting killed?

Yes and no. As I understand it, the mortgage interest deduction will be limited to the first $500,000 of any new purchases and, unfortunately for most of us here, the mortgage interest deduction on our second homes is fully eliminated. Oh you don't have a second home? Yeah, me neither. I'm barely holding onto my first home, at this point.

Pretty sure the senate bill increased the value to $1m

one of the PA gerrymandering lawsuits is set to heard next Monday

Back in October word came that CVS was looking to absorb Aetna into its vast network. Now, they're going to do it. $69 billion dollars.

we need some trust busters; this isn't going to go well. CVS will now supply and approve the medicine for 22 million people and also administer the healthcare.

pacino wrote:Back in October word came that CVS was looking to absorb Aetna into its vast network. Now, they're going to do it. $69 billion dollars.

we need some trust busters; this isn't going to go well. CVS will now supply and approve the medicine for 22 million people and also administer the healthcare.

Agree with this completely. The healthcare sectors need more competition not less. This vertical integration is going to be unhealthy for us.

traderdave wrote:

PhillieMooDo wrote:Pals, are the mortgage interest and student loan interest right offs really getting killed?

Yes and no. As I understand it, the mortgage interest deduction will be limited to the first $500,000 of any new purchases and, unfortunately for most of us here, the mortgage interest deduction on our second homes is fully eliminated. Oh you don't have a second home? Yeah, me neither. I'm barely holding onto my first home, at this point.

So...if a home is purchased for less than $500,000, one can still deduct the interest?

we've been thinking about buying something in brigantine. guess we should do that within the next 27 days huh

Bucky wrote:we've been thinking about buying something in brigantine. guess we should do that within the next 27 days huh

Guess I need mine to close in the next 27 days.

slugsrbad wrote:

Donald Trump wrote:

Donald Trump wrote:Putting Pelosi/Schumer Liberal Puppet Jones into office in Alabama would hurt our great Republican Agenda of low on taxes, tough on crime, strong on military and borders...& so much more. Look at your 401-k’s since Election. Highest Stock Market EVER! Jobs are roaring back!

He really wants to push Americans towards rooting for the fiscal collapse of the system.

Then why do we need the massive tax cuts so badly?

I read an article saying that a report from the National Association of Realtors claimed the tax bill would lower property values in all 50 states with NJ being hit the hardest (low end homes dropping 10% in value with more expensive homes dropping around 20%). I’ve been in the market for a house and now I’m not sure if I should do it or not.

It's tough because it will likely drop housing prices but who knows by how much.

And at the same time interest rates will continue to climb.

places with a large population of "2nd homes" will be hit hardest. Jersey shore, FLA, poconos.

PhillieMooDo wrote:

traderdave wrote:

PhillieMooDo wrote:Pals, are the mortgage interest and student loan interest right offs really getting killed?

Yes and no. As I understand it, the mortgage interest deduction will be limited to the first $500,000 of any new purchases and, unfortunately for most of us here, the mortgage interest deduction on our second homes is fully eliminated. Oh you don't have a second home? Yeah, me neither. I'm barely holding onto my first home, at this point.

So...if a home is purchased for less than $500,000, one can still deduct the interest?

It means mortgage interest on a mortgage up to $500K so, for example, if your mortgage were $525K you can still deduct the interest due on up to $500K of the mortgage. If your mortgage is less than $500K, you can deduct it all. Also, it only would apply to new mortgages, not existing ones.

Importantly, the Senate bill keeps the limit at up to a $1MM mortgage. The National Association of Realtors and other housing industry groups are lobbying hard and may be able to block any reduction below $1MM in conference (which, btw, is the current limit).

If you're considering buying a home I would most definitely wait until after the bill is signed into law (or not). The (relatively) good news is, assuming it becomes law, home prices may drop and may drop significantly, so it's worth waiting if you can IMO.

I think the current limit is actually 1.1. So it’s a small reduction