I'm sorry to be the bearer of bad news but 4% mortgages is close to the all time low in history.
Also with tax credits, etc. Roughly 45% of Americans have zero federal income tax liability.
What to do with the homeless?
- Thread starter Smooth
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I'm sorry to be the bearer of bad news but 4% mortgages is close to the all time low in history.
Also with tax credits, etc. Roughly 45% of Americans have zero federal income tax liability.
Escape From New York would be a reality.
Very true and I was expecting this response.
If someone bought a 1m house, and paid monthly payments at current rates, he would pay over $800,000 just in interest. Yes, they're "low" but it's an oppression.
They don't owe any tax liability. But the government takes withholdings, and people in this bracket don't know how any of it works to know how to maximize a refund they're entitled to. Do you believe the IRS is going to tell them?
A lot of those tax credits aren't available to a 1040EZ, and you can't trust an accountant would care about a poor persons return to do anything but prepare it as basic as possible. And that's assuming they can afford to have someone else do their taxes.
Take a 10 or 15 year loan instead of a 30. And you neglect to take into account the time value of money. Some of those interest dollars are 30 years from today's value.
The standard deduction is $12K ($24k for married joint filiers). A married couple earning $60k with zero kids or other deduction will owe roughly $3900 in fed taxes. That's a 6.5% rate and hardly seems oppressive.
EDIT: The NPV of $800k in interest over 30 years at 4% is about $250k. Seems fair given the bank is taking the risk of the loan and locking up capital in a home (that someone else is living in) for 30 years. I fail to understand how that's "oppressive" for someone who can afford a $1MM home.
Also, YES the IRS WILL help you figure out your fed tax liability by using its withholding calculator: 2018 Withholding Calculator
Additionally, TurboTax is F-R-E-E and will help taxpayers claim deductions.
TurboTax® Tax Software, e-File Taxes Online, File Income Tax Returns
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Those filthy capitalists.
This absolutely not true. There are plenty of homeless communities out there and they’re filled with people who lie and cheat and steal. People who have no value or regard for things and they take, destroying everything touch because it’s not theirs.
This was also tried with the colonization of this nation. It failed spectacularly!!
The interest rate used to be over 16%. The borrower is slave to the lender. If you don’t like it don’t borrow money. It is pretty easy...
Been there, done that, didn't get triggered by the replies.
How high are you? I'm guessing you're either 16 or a man-child living at home.
Here's the thing with homeless people.
1) If they want help, they're probably seeking ways to get it, and there's nothing additional we need to do beyond the support services already available.
2) If they don't want help, there's nothing we can, or SHOULD do.
3) If they're beyond help, there's nothing we can do.
1) If they want help, they're probably seeking ways to get it, and there's nothing additional we need to do beyond the support services already available.
2) If they don't want help, there's nothing we can, or SHOULD do.
3) If they're beyond help, there's nothing we can do.
Poor people are not motivated or lack knowledge to file for taxes. The government wins in both cases. Those people are due their refundable credits. There are others that file 1040EZ and miss out on other credits that only work with a 1040. Other people that can't use a computer or know about free Turbo tax.
You're also forgetting about FICA taxes, property tax, sales tax, etc. And the fact that personal exemptions have been lost, which makes the add'l std deduction seem not as beneficial.
I'm glad you think that paying interest at 80% of the principal is fair. All of the millionaire bankers will probably call you buddy, after all they are using our money to do it. Seems like a good deal, especially if they take your house if you default, or take your house from your widowed wife when you die. They know all the tricks.
Add on the fact that most people pay PMI, which is the same price as a car payment.
"How high are you?" Is a pretty common question from society. It tells me you adapt your own thoughts and language from seeing others.
I want you to re-read what you just posted, and try again.
If they aren't motivated, or lack knowledge.....they aren't due SHIT! If you want it, you have to go get it.
I'm so ****ing tired of people thinking they're owed something when they won't help themselves.
FICA? You mean for Social Security and Medicare.... which BENEFIT everyone later in life?
Property taxes? You mean to fund things like local schools? Sales Taxes? You mean to fund things like the police, etc.? Do you realize that both of these things pay for infrastructure and services that increase the value of this oppressive home you just purchased?
And the NPV of that interest is 25% of the principal value of the house... and the people actually getting the benefit of LIVING in the house only put up a 20% deposit, in your example. Also, assuming 4% rate of appreciation over 30 years in that home = $1MM home today is $2.2MM home in 30 years. The bank made $800k and you made $1.2MM. 50% more than the bank made! Math is fun!
"They know all the tricks?" Like maybe read a book or check out the internet youself. There are no "tricks." There's laws and contracts. They're all written down for ayone to read.
And people who don't have a computer can go to a public library (you know, the ones paid for by income taxes, property taxes, and sales taxes) and use a computer that can access the internet, for free! Even if you're a homeless bum who pays zero income tax or property tax and likely only pays sales tax on cigarettes and booze you can still use the computer at the library for free. The library usually enen has free classes on how to use a computer if one doesn't even have that level of knowledge.
Look at all these FREE technology / computer classes offered by Denver Library
Technology Classes & Workshops | Denver Public Library
Everything from:
Computer Basics: Getting Started
Learn the basics of using a computer and practice using a mouse. No computer experience required.
To:
Python
Learn basic Python programming. You'll need intermediate computer skills, but no previous programming experience required.
Class 1: Variables, Data Types and Expressions
Class 2: Format Operators, Input and Conditions
Class 3: Functions and Loops
Class 4: Classes, Objects and Modules
All these homeless people could learn coding and get themselves remote jobs (using the FREE library computers).
Technology Classes & Workshops | Denver Public Library
Everything from:
Computer Basics: Getting Started
Learn the basics of using a computer and practice using a mouse. No computer experience required.
To:
Python
Learn basic Python programming. You'll need intermediate computer skills, but no previous programming experience required.
Class 1: Variables, Data Types and Expressions
Class 2: Format Operators, Input and Conditions
Class 3: Functions and Loops
Class 4: Classes, Objects and Modules
All these homeless people could learn coding and get themselves remote jobs (using the FREE library computers).
I’d give them a Rambo shower.
Ok - I really shouldn’t joke about it. As many have said, these folks very often have legitimate problems and reasons for their predicament. Lots of ideas here - some good - some not so good. It’s a difficult problem to solve, and not a “one solution fits all” deal. Some mix of many of the proposed solutions is likely the answer. But I certainly don’t know what that recipe is.
Ok - I really shouldn’t joke about it. As many have said, these folks very often have legitimate problems and reasons for their predicament. Lots of ideas here - some good - some not so good. It’s a difficult problem to solve, and not a “one solution fits all” deal. Some mix of many of the proposed solutions is likely the answer. But I certainly don’t know what that recipe is.
Given your inability to answer, I'm going to assume, very with the logic...well lack thereof employed in your "thoughts".
It's almost impossible to solve but for one we need to reopen more mental institutions. Get the truly mental ones institutionalized and sort them out there. Next, start picking up the ones committing petty crimes like drug possession and put them into institutions like prisons where they cant voluntarily leave, but instead are there to detox and are forced to clean themselves up, get educated, work for pay, and then eventually find outside work once they complete the required path. If they follow through then the charges wont go on their records and maybe allow for some of their past record to be expunged depending on what is on it. With this, encourage churches and other organizations to take part in the effort to help provide training, resources, and other help. In Seattle for example, Im sure Amazon has warehouse jobs that could be geared towards employing people who prove they are clean and willing to work again so maybe get some of the local companies involved with promises of tax credits. Anyone who fails to comply will be looking at actual prison time for their crimes which means we need to stop going easy on crime. A similar program can be enacted for those that are on the streets but dont want to be. A lot of these people are in such a bad spot that they just dont know what to do and feel hopeless so they basically need someone to grab their hand and forcefully guide them out of it.
Obviously not a cheap option but at the moment Im pretty sure we are spending millions as it is on this problem and only making it worse by wanting to spend millions for safe injection sites. I just read that Seattle is now 3rd behind I think LA and San Fran with the homess crisis, but it feels worse because the city is very dense so they are literally everywhere you go.
We essentially need to take the approach that homelessness is not an option and it will not be pitied, but forcefully changed. There needs to be a balance between personal freedom obviously but it is ultimately a hindrance to society and is ruining the appeal of many cities which equates to loss of revenue and obviously higher crime.
I would rather just let the people do their thing and live their lives how they want, but they have crossed the line where their poor habits are affecting society around them. In a way it could be like how we gave people the option of jail or the military, but obviously the military has stricter standards now. We need that tough love type of organization that forces people to better themselves and wont play with kid gloves.
Obviously not a cheap option but at the moment Im pretty sure we are spending millions as it is on this problem and only making it worse by wanting to spend millions for safe injection sites. I just read that Seattle is now 3rd behind I think LA and San Fran with the homess crisis, but it feels worse because the city is very dense so they are literally everywhere you go.
We essentially need to take the approach that homelessness is not an option and it will not be pitied, but forcefully changed. There needs to be a balance between personal freedom obviously but it is ultimately a hindrance to society and is ruining the appeal of many cities which equates to loss of revenue and obviously higher crime.
I would rather just let the people do their thing and live their lives how they want, but they have crossed the line where their poor habits are affecting society around them. In a way it could be like how we gave people the option of jail or the military, but obviously the military has stricter standards now. We need that tough love type of organization that forces people to better themselves and wont play with kid gloves.
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