pajamaset
pajamaset t1_ivuzxm6 wrote
Reply to comment by noob_tube03 in In divided U.S., Massachusetts turns deeper blue; Turnout in Cambridge, Somerville is under 50% by blackdynomitesnewbag
Ok so reading this I’m curious about something… do you think this taxes assets?
pajamaset t1_ivuz700 wrote
Reply to comment by noob_tube03 in In divided U.S., Massachusetts turns deeper blue; Turnout in Cambridge, Somerville is under 50% by blackdynomitesnewbag
I’m not biased I just know super wealthy people, people working in startups, people living in and selling extremely expensive homes. We are upper middle class and I promise you this tax does only good for us, no harm at all.
Over the summer our friends sold their house for $1.3 million more than they purchased it. Their capital gains were nowhere near a million dollars because of their capital improvements.
I know you think I’m biased but you seem emotional. You feel like some day this tax could cost $.04 for every dollar over a million that you make in a year, but you’re not being logical at all. The likelihood that you ever make $1,000,001 in a single year is very low.
Theoretically, let’s say you have an income of $150k and you sell your house for $1,000,000 more than you spent on it with no qualifying capital improvements. That means you’ll pay an extra $6k in taxes. Given that you just sold your house and made seven figures, I think you can afford the $6k and also likely won’t feel it much.
But, let’s also look at absolute numbers for home prices since the recession. If you spent $500k in 2008 on a house, and it has appreciated 60%, that means the house is now worth $800k, for a gain of $300k. That means in order to feel this tax for even $.04, you would need an annual income of $700,001.
In the event of a windfall that sets your annual income — even for a year — at a million dollars, I’d argue that you’re no longer middle class.
I just think you are proving the whole temporarily embarrassed millionaire thing and it’s not a great look.
pajamaset t1_ivuknbd wrote
Reply to comment by noob_tube03 in In divided U.S., Massachusetts turns deeper blue; Turnout in Cambridge, Somerville is under 50% by blackdynomitesnewbag
The upper middle class are not in the .6% of the Massachusetts population making a million dollars a year, even if they are selling big fancy houses. Selling a million dollar house does not mean a million dollars of income, for tax purposes.
pajamaset t1_ivsrrto wrote
Reply to comment by noob_tube03 in In divided U.S., Massachusetts turns deeper blue; Turnout in Cambridge, Somerville is under 50% by blackdynomitesnewbag
So you have explained that it won’t hit most of the people that it hits repeatedly but you have not explained how it will hit the upper middle class, which is what he asked, and something I would love to see answered.
pajamaset t1_j8wfeq8 wrote
Reply to OB/GYN recs for first pregnancy? by sreddit0503
Yes, as u/syst3x said, Dr. Huang is the way. After our first was born prematurely, we would not have had a second go without him. No one makes me feel safer, more respected, or more included in my care. He is a clear communicator, never rushes you, he explains every choice before you and is completely transparent.
After our experience with infertility, when our ivf discharge nurse recommended him, we decided to take the rec and I have never in my life been so grateful that I did.