{"id":5564,"date":"2008-11-13T10:26:04","date_gmt":"2008-11-13T17:26:04","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=5564"},"modified":"2008-11-13T10:26:04","modified_gmt":"2008-11-13T17:26:04","slug":"think-your-taxes-are-going-down-think-again","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/5564\/think-your-taxes-are-going-down-think-again\/","title":{"rendered":"Think Your Taxes Are Going Down? Think Again"},"content":{"rendered":"

In A Few Years <\/strong>We’ll Be Calling These Days The Good Ol’ Days
\n<\/strong><\/p>\n

Some believe that in the coming administration, their taxes will be lowered. Some even believe that they won’t have to worry about buying gas… or paying their mortgage… as Obama will make sure that all is well<\/a>.<\/p>\n

Let me tell you how the cow will eat the cabbage.<\/p>\n

As of this writing, the federal government has pumped $2 trillion into places of which – thus far – they will not even divulge where the money is going<\/a>. Keep in mind that is $2 trillion during a so-called “conservative” administration. At this rate, we will soon see a big spike in inflation as our money loses even more of its value. Our dollar has lost 27% over the last eight years… and these bailouts are nothing more than the government printing money – therefore making the remaining money supply worth that much less.<\/p>\n

One of the changes that will take place at the end of the year is the revision of the capital gains exclusion – a change that will not benefit the taxpayer. Current tax law provides a $250K exclusion ($500K for married couples) from capital gains taxes on a primary residence that the taxpayer lived in for two of the previous five years. The new law will prorate the exclusion based upon how many years the taxpayer actually lives in the home.<\/p>\n

Meanwhile, the inflation from the printing presses at the Treasury is going to cause a rise in the prices of everything – food, commodities, wages, housing… you name it. Higher wages will result in higher taxes due to the phenomena of bracket creep<\/a>… and although real estate will rise in real value, it’s value on paper will appear to be much greater due to this inflation.<\/p>\n

As many have noticed over the last ten years, property taxes have gone up as a result of tax assessors using higher property values as a means to get more money for the government coffers… and now as property values are declining, those same assessors are not interested in lowering those taxes. In many cases, Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

In A Few Years We’ll Be Calling These Days The Good Ol’ Days Some believe that in the coming administration, their taxes will be lowered. Some even believe that they won’t have to worry about buying gas… or paying their mortgage… as Obama will make sure that all is well. Let me tell you how […]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[2,5,10],"tags":[],"class_list":{"0":"post-5564","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-general","7":"category-real-estate","8":"category-realty-reality","10":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":18535,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/18535\/overnight-news-instinct-will-out\/","url_meta":{"origin":5564,"position":0},"title":"Overnight News: Instinct will out?","author":"Greg Swann","date":"October 7, 2021","format":false,"excerpt":"On Cleo's first birthday, she ate a lizard. 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Freddie Mac and Fannie Mae, wholly owned subsidiaries of the US\u2026","rel":"","context":"In "Dirty Laundry"","block_context":{"text":"Dirty Laundry","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/dirty-laundry\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2011\/01\/http___www.maybachusa.com_graphics_gallery_maybach-laundalet_01-300x203.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":65,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/65\/ten-trillion-times-a-tiny-loss-is%c2%a0a-huge-loss\/","url_meta":{"origin":5564,"position":3},"title":"Ten trillion times a tiny loss is a huge loss . . .","author":"Greg Swann","date":"June 29, 2006","format":false,"excerpt":"I have been devoting a lot of my time to some ascendant ideas in Real Estate loosely based on the Web 2.0 model of internet commerce. The ideas are ascendant, but they're not necessarily good. 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