Your numbers are completely WRONG (Reply #9)

In the discussion thread: Romney’s deduction cap would touch sensitive tax breaks [View all]

Wed Oct 3, 2012, 02:13 PM

CreekDog (45,869 posts)

9. Your numbers are completely WRONG

500k mortgage at 4% interest rate is roughly $2400/month payment.

At 36% of monthly gross, income would be $7000/month or 84k per year.

The median housing price in San Francisco is 705k.

Anyway, I think it's pretty bad to post false numbers in order to falsely make people with 500k mortgages out to be wealthier than they often actually are.

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Replies to this discussion thread

47 replies	Author	Time	Post
Romney’s deduction cap would touch sensitive tax breaks [View all]	Texas Lawyer	Oct 2012	OP
Keep on talking, Wrongney . . .	fleur-de-lisa	Oct 2012	#1
I hope Jim Lehrer holds Mitt's feet to the fire tonight and makes him explain himself	renate	Oct 2012	#2
The deduction cap may also negatively impact donations to the arts and charities	no_hypocrisy	Oct 2012	#3
but, but, but these agencies are supposed to do the work of helping the poor	central scrutinizer	Oct 2012	#7
The right has been at war...	awoke_in_2003	Oct 2012	#10
Change 'may' to 'will' and you have something	jmowreader	Oct 2012	#40
This is not a legitimate proposal ... it's a contrivance	bucolic_frolic	Oct 2012	#4
How about we just extend the Bush Tax cuts for the lower 95%	Cosmocat	Oct 2012	#18
That's not how it works	jmowreader	Oct 2012	#41
I am TRYING to help my somewhat sane republican friends	Cosmocat	Oct 2012	#44
Is it just itemized deductions? I'm not sure that what he said.	BlueStreak	Oct 2012	#5
This is what he said:	muriel_volestrangler	Oct 2012	#14
It couldn't possibly be revenue neutral because	BlueStreak	Oct 2012	#15
BINGO	Cosmocat	Oct 2012	#21
Right. It was never intended to be revenue neutral	BlueStreak	Oct 2012	#25
You also forgot his corporate tax cut	jmowreader	Oct 2012	#42
There are more than two choices	BlueStreak	Oct 2012	#45
We could and should do all these things...	jmowreader	Oct 2012	#46
The GNCGFH Act of 2013. I like it.	BlueStreak	Oct 2012	#47
You need an annual income of roughly $150,000 to afford a $500,000 mortgage.	Lasher	Oct 2012	#6
$17,000 cap includes medical deductions, etc.	emulatorloo	Oct 2012	#8
Few People Get To Take Medical Deductions	DallasNE	Oct 2012	#13
Yup. For me the "etc." includes a couple of big deductible items: state income tax & property tax	progree	Oct 2012	#19
^Listen to Progree, he's smart...eom	Kolesar	Oct 2012	#22
Great post. N/t	emulatorloo	Oct 2012	#39
Your numbers are completely WRONG	CreekDog	Oct 2012	#9
Bay Area home buyers could still deduct most of their interest	Kolesar	Oct 2012	#16
look, if you are gung ho in defending the romney tax plan	CreekDog	Oct 2012	#26
That was stupid on your part	Kolesar	Oct 2012	#27
as proud as your are smug	CreekDog	Oct 2012	#31
I also find it laughable that you think someone can't get a mortgage more than 19% of gross income	CreekDog	Oct 2012	#11
Your ignorance doesn't make me wrong.	Lasher	Oct 2012	#32
I provided the numbers that show you are wrong	CreekDog	Oct 2012	#33
Ended up getting a cheaper place, did you?	Lasher	Oct 2012	#34
I didn't have a liar's loan, my income ratios were fine, my credit ratings well over 800...	CreekDog	Oct 2012	#35
OK let's take a closer look.	Lasher	Oct 2012	#36
you're saying my taxes should go up by 4000 so that the wealthy can have that money?	CreekDog	Oct 2012	#37
Looks like you're not laughing anymore.	Lasher	Oct 2012	#38
The Concept Makes No Sense	DallasNE	Oct 2012	#12
It is all WEALTH REDISTRIBUTION. Why should America be talking about this now?	BlueStreak	Oct 2012	#17
Isn't it crazy that Romney can beat up the President for "wealth redistribution" one day and then	Texas Lawyer	Oct 2012	#28
The deduction cap came out of Romney's dunce cap. Vapors. nt.	OldDem2012	Oct 2012	#20
The laws regarding capital gains taxes on the sale of a house already harm people in the	JDPriestly	Oct 2012	#23
This would target Romney's prime profit harvesting zone.	Turbineguy	Oct 2012	#24
Yes.	NutmegYankee	Oct 2012	#43
And don't forget Ryan's "Broaden the base"	OldHippieChick	Oct 2012	#29
We need to broaden the base to lighten the load on the overburdened millionaires and billionaires	Texas Lawyer	Oct 2012	#30

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