General Discussion

LooseWilly

(4,477 posts)

40. Passive losses, however, can be deducted against passive gain...

Fri Jul 12, 2013, 03:33 AM

Jul 2013

So the landlords, who aren't "real estate professionals" (200 hours a year doing real estate work, or something like that) can still deduct the less profitable against the more profitable. The real problem is not being able to deduct interest and depreciation "expenses" against salary income... the end of a tax dodge.

(Though, all the passive losses can be deducted against active income in the year in which the interest in the property is disposed of... but I guess they didn't wanna work as hard as it would take to have a "cycle" of tax-haven investments for clients so they could sell one off each year, only to buy into the next... allowing them to take advantage of the smaller loophole.)

Reagan is sainted by the right wing, obviously, because of his tax system overhaul in... was it '83?

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Elizabeth Warren Introduces 21st Century Glass-Steagall Act [View all] tpsbmam Jul 2013 OP

God, I love that woman NV Whino Jul 2013 #1

AMEN! She has huge courage and excellent values. She's looking out for the public like AikidoSoul Jul 2013 #65

First, they de-regulated the S&Ls... Octafish Jul 2013 #2

What those in Washington don't realize is going along with someone like Warren is all that stands yurbud Jul 2013 #32

I think they have an idea MsLeopard Jul 2013 #57

the difference between now and the past is the internet yurbud Jul 2013 #66

The S&Ls didn't only collapse because of crooks jmowreader Jul 2013 #37

Passive losses, however, can be deducted against passive gain... LooseWilly Jul 2013 #40

Now you can, yes jmowreader Jul 2013 #56

so hillary can sign GLB II im sure.... nt galileoreloaded Jul 2013 #3

Sign on to support Elizabeth .... Scuba Jul 2013 #4

K & R SunSeeker Jul 2013 #5

k&r thanks for posting. rhett o rick Jul 2013 #6

This is a necessity. We need to make this a big election issue in 2014. It will favor Democrats JDPriestly Jul 2013 #7

K&R forestpath Jul 2013 #8

Finally something I can be proud of. Cantwell is my senator. Thank you Warren, Cantwell, and King. liberal_at_heart Jul 2013 #9

HUGE K & R !!! WillyT Jul 2013 #10

Excellent Berlum Jul 2013 #11

Great bill too bad it has no chance at becoming law. craigmatic Jul 2013 #12

You're absolutely right..Even if it passes in the Senate, it's DOA in the House. red dog 1 Jul 2013 #72

YES! She can't run for President soon enough! n/t Triana Jul 2013 #13

I agree! liberal_at_heart Jul 2013 #16

YEAH! Squinch Jul 2013 #14

I wrote that FDR was smiling in Heaven when Warren was elected MannyGoldstein Jul 2013 #15

Senators Warren, McCain, Cantwell, and King Introduce 21st Century Glass-Steagall Act ProSense Jul 2013 #17

Also, Senator Warren has a diary up a Daily Kos: ProSense Jul 2013 #21

And so they don't exist? zipplewrath Jul 2013 #22

K and R ReRe Jul 2013 #18

Finally! Now then, regarding the unconstitutional debacle of 1913. BornLooser Jul 2013 #19

While I agree with you on the Fed, there is one big problem. roamer65 Jul 2013 #33

Good point. I believe it has to start by. BornLooser Jul 2013 #48

Five and a half years after Bush, a DEMOCRATIC Senator finally introduces such a bill. AnotherMcIntosh Jul 2013 #20

Good! moondust Jul 2013 #23

Senator Warren is taking on the beast felix_numinous Jul 2013 #24

And where are the so-called conservatives who want to return to the past? lindysalsagal Jul 2013 #25

Key words being "so-called". BornLooser Jul 2013 #50

Sen. Warren is talented in lighting HUGE fires Hydra Jul 2013 #26

I'm so much more for Warren than Hilary stuffmatters Jul 2013 #27

No more Clintons! Go Elizabeth! xtraxritical Jul 2013 #35

When Glass-Steagall was repealed AgingAmerican Jul 2013 #38

Does it really work that way? mattclearing Jul 2013 #44

Of course he could have vetoed it and made them override his video. PoliticAverse Jul 2013 #45

Thanks for this. mattclearing Jul 2013 #47

And Hilary voted for the Iraq invasion, as well. And then made a snarky speech against it on the ste lindysalsagal Jul 2013 #53

Yes, and she said why AgingAmerican Jul 2013 #62

Hilary knew more than shrub did, because her husband could inform her. lindysalsagal Jul 2013 #63

Bill Clinton is not able to read minds AgingAmerican Jul 2013 #71

For 8 years the Neocons were looking for any excuse to invade Iraq stuffmatters Jul 2013 #74

Bingo. lindysalsagal Jul 2013 #79

He knew because the neocons wrote him a letter in 97 asking to invade iraq. lindysalsagal Jul 2013 #80

If it passes by a veto proof majority he is obligated to sign it. AgingAmerican Jul 2013 #60

No, he isn't. Once the veto is overridden it becomes law without his signature. n/t PoliticAverse Jul 2013 #68

Not true. mattclearing Jul 2013 #75

Bullshit. progressoid Jul 2013 #58

Glass Steagall passed by a VETO PROOF MAJORITY`` AgingAmerican Jul 2013 #61

He SUPPORTED it sparky. A veto wasn't even an issue. progressoid Jul 2013 #64

Again, this is not true. mattclearing Jul 2013 #77

Even if 100% voted for it, Clinton still could have vetoed. merrily Jul 2013 #82

Clinton told Congress he wanted the repeal on his desk for his signature ASAP. merrily Jul 2013 #81

FYI, there was no alleged veto proof majority, anyway. merrily Jul 2013 #83

This message was self-deleted by its author avaistheone1 Jul 2013 #67

Thank You For Sharing - I Wish More Senators Represented Americans As Well cantbeserious Jul 2013 #28

K&R In my world EW would be a centrist. raouldukelives Jul 2013 #29

I'm pretty far left, almost to point of being socialist. You've peaked my curiosity. liberal_at_heart Jul 2013 #43

Because I don't consider anything that Warren asks for being more than common sense. raouldukelives Jul 2013 #55

Bernie Sanders has been there much longer than E. Warren. xtraxritical Jul 2013 #59

And then how about a better anti-trust law? Something to breakup ANY "too big to fail." tclambert Jul 2013 #30

How about something simpler. Just don't bail them out when they fail. PoliticAverse Jul 2013 #46

And why in the hell have we not done this already? DirkGently Jul 2013 #31

Why is this Woman Not. BillyRibs Jul 2013 #34

K&R.... midnight Jul 2013 #36

Kicked and Recommended! Enthusiast Jul 2013 #39

K&R Warren DeMontague Jul 2013 #41

Got an email from her on this today... Jasana Jul 2013 #42

It would be great to get it passed davidpdx Jul 2013 #49

This makes total sense to me. DCBob Jul 2013 #51

K & R ctsnowman Jul 2013 #52

Wow! Le Taz Hot Jul 2013 #54

Positive game changer for the USA! avaistheone1 Jul 2013 #69

Love Elizabeth Warren! tweeternik Jul 2013 #70

K&R..Thanks for posting. red dog 1 Jul 2013 #73

rec rec rec +++ Elizabeth Warren for President. Whisp Jul 2013 #76

Sounds like a pass to me. RB TexLa Jul 2013 #78

+1 uponit7771 Jul 2013 #84