{"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_post_was_ever_published":false,"_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":""},"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":10963,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/10963\/barney-frank-i-believe-this-committee-will-be-recommending-abolishing-fannie-mae-and-freddie-mac-in-their-current-form-and-coming-up-with-a-whole-new-system-of-housing-finance\/","url_meta":{"origin":5564,"position":0},"title":"Barney Frank: “I believe this committee will be recommending, abolishing Fannie Mae and Freddie Mac in their current form and coming up with a whole new system of housing finance.”","author":"Greg Swann","date":"January 22, 2010","format":false,"excerpt":"To say anything at all would be way too much. From the Wall Street Journal:\"The remedy here is...as I believe this committee will be recommending, abolishing Fannie Mae and Freddie Mac in their current form and coming up with a whole new system of housing finance,\" said Rep. Barney Frank\u2026","rel":"","context":"In "Big Mother"","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":11277,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/11277\/we-are-all-on-welfare-now-the-governments-assistance-in-the-housing-market-now-is-less-about-giving-us-a-soft-landing-than-it-is-about-having-us-furiously-flap-our-arms-to-stay-aloft\/","url_meta":{"origin":5564,"position":1},"title":"We are all on welfare now: “The government’s assistance in the housing market now is less about giving us a soft landing than it is about having us furiously flap our arms to stay aloft.”","author":"Greg Swann","date":"February 11, 2010","format":false,"excerpt":"The Washington Examiner:The unspoken, bottom line: The federal government has already nationalized the housing industry. We're not just talking about Uncle Sam providing a few subsidies, or even taking over a few of the big players, as they have in the auto industry. This is a complete takeover. Every new\u2026","rel":"","context":"In "Big Mother"","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":13025,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/13025\/lucha-libre-mortgage-reform\/","url_meta":{"origin":5564,"position":2},"title":"Lucha Libre Mortgage Reform","author":"Don Reedy, San Diego, CA","date":"August 18, 2010","format":false,"excerpt":"Last week there was some discussion about what was to have happened today in Washington. This discussion centered around whether the government would or would not take certain steps to protect the housing market through a mandated deficit funded mortgage bailout. Today, we have some new information on what Tim\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5244,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/5244\/arthur-laffer-the-age-of-prosperity-is-over\/","url_meta":{"origin":5564,"position":3},"title":"Arthur Laffer: “The Age of Prosperity Is Over”","author":"Greg Swann","date":"October 27, 2008","format":false,"excerpt":"The author of the Laffer Curve in the Wall Street Journal:When markets are free, asset values are supposed to go up and down, and competition opens up opportunities for profits and losses. Profits and stock appreciation are not rights, but rewards for insight mixed with a willingness to take risk.\u2026","rel":"","context":"In "Investment"","block_context":{"text":"Investment","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/investment\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7478,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/7478\/if-the-congenitally-big-hearted-american-people-were-to-fixate-upon-a-moderately-competent-administrative-assistant-and-make-that-man-president-of-the-united-states-what-would-happen\/","url_meta":{"origin":5564,"position":4},"title":"If the congenitally big-hearted American people were to fixate upon a moderately competent administrative assistant and make that man president of the United States, what would happen?","author":"Greg Swann","date":"March 13, 2009","format":false,"excerpt":"They'd wake up and catch a clue, that's what. From the Wall Street Journal:It is simply wrong for commentators to continue to focus on President Barack Obama's high levels of popularity, and to conclude that these are indicative of high levels of public confidence in the work of his administration.\u2026","rel":"","context":"In "Big Mother"","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":10321,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/10321\/how-can-a-flat-and-dusty-bumpkintopia-like-texas-outgrow-a-paradise-on-earth-like-california\/","url_meta":{"origin":5564,"position":5},"title":"How can a flat and dusty bumpkintopia like Texas outgrow a paradise on earth like California?","author":"Greg Swann","date":"November 16, 2009","format":false,"excerpt":"A clip from a fascinating City Journal article on the differences in taxes and services among the states and how that affects growth:If California doesn\u2019t want to be Texas, it must find a way to be a better California. The easy thing about being Texas is that the government has\u2026","rel":"","context":"In "Big Mother"","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/5564","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=5564"}],"version-history":[{"count":10,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/5564\/revisions"}],"predecessor-version":[{"id":5579,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/5564\/revisions\/5579"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=5564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=5564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=5564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}