The Presidency of Not So Jacked Up Joe Biden: We Beat Medicare!

[CaffeineNeeded]

@commonWealth

Long term we want to be somewhere I can play at least 5/T and preferably T/20. If the requirement was just 2/5, we could probably find a

Chicago could support this, and as far as cities go is a lot more affordable than others.

Note this is from me ten years ago. Also a good hub to fly out of and go elsewhere here and there.

Also I think you know the answer here is Vegas.

[Melkerson]

@commonWealth

Dayton would be about an hour away from a poker room. Austin is a place we discussed, but the lack of reproductive rights and potential other crazy Republican shit is a non-starter for us, at least long term.

Long term we want to be somewhere I can play at least 5/T and preferably T/20. If the requirement was just 2/5, we could probably find a place. It’s possible that we could actually have a better standard of living in some low cost of living place with me playing 2/5 than in other places at 5/T… But T/20 should be a game I make enough more to offset it.

The best combo of cost of living and 2/5 is probably Biloxi, but obviously we’re not looking to live in Mississippi.

I get that living in a place without reproductive rights feels dirty, but the stark reality is you aren’t that different from the rich republican legislator who will fly his daughter out of state for an abortion.

If your wife needed one, the two of you could make it happen. It’s not riskless as there could be some emergent care situation. And likely access to care will be poorer in general with docs leaving these places, but it seems like something you might want to consider compromising on if everything else fits. Yeah, I realize this is a pretty morbid suggestion, but something you probably ought not to completely dismiss, as uncomfortable as it may be.

[Melkerson]

@commonWealth

Dayton would be about an hour away from a poker room.

What’s your current commute? 45 min?

[d10]

@goofy

Maybe I’m misunderstanding something but it sounds like the balance you give TT only matters for the purpose of figuring out if you’re over the limit or not, no? High balance is bad, if your balance is <$750k you get to deduct all the mortgage interest you paid and if it’s >$750k you can only claim (750k / your balance) percent of the interest.

I think I see what you’re saying. The interest paid is reported on your 1098, so if you’re below the cap it’s an easy transcription and you’re done. If you’re above the cap you’re using the formula you provided. [Interest Paid]*(750k/[Avg Bal]) should work out to interest paid on the first 750k of the mortgage, since [Interest Paid]=[Avg Bal][Interest Rate], so the formula simplifies to 750k*[Interest Rate]. I was doing that math in my head thinking reporting a higher balance could only help increase the value of interest paid you’re arriving at. But the interest paid number will still be as reported, and the average balance you’re using only acts as a denominator. My head hurts now too but you’ve convinced me and this would explain why the IRS has never put a stop to TT users overstating their loan balances.

[Jman220]

@d10

Mortgage interest doesn’t fall under the SALT cap. You can deduct up to $10k on the SALT line, which every middle class homeowner family in a reasonably taxed state will hit. The mortgage interest line is capped by the amount of the loan at $750k. So the deduction amount is theoretically unlimited, but if you’re “capping” you’re paying at least $20k/year in interest even if you refinanced at rock bottom rates.

So it’s a cap that only affects the very rich, but if you’re hitting it you’re going to itemize. New mortgages post-interest rate normalization are going to want to itemize well below the cap. I’ll revise my numbers down to ~100% on that cap alone and even lower for homeowners in general but that’s because I forgot how hard the tax changes hit married couples. Single homeowners will itemize much more easily. Also consider:

The SALT Cap is $10k. The standard deduction for Married filing jointly is 27k. That means that in order for itemizing to make sense you have to be paying greater than $17k in mortgage interest. The majority of people (myself included) are not paying more than $17k a year in mortgage interest.

[commonWealth]

@CaffeineNeeded

@commonWealth

Long term we want to be somewhere I can play at least 5/T and preferably T/20. If the requirement was just 2/5, we could probably find a

Chicago could support this, and as far as cities go is a lot more affordable than others.

Note this is from me ten years ago. Also a good hub to fly out of and go elsewhere here and there.

Also I think you know the answer here is Vegas.

Chicago is in the mix, in part because the casino already being outside the city leaves options to go like 30-40 minutes from there and find affordable housing.

My experience and understanding is that the games in Vegas aren’t very good. Cost of living there isn’t bad, but we both hate the weather there too.

@Melkerson

What’s your current commute? 45 min?

Yeah, but it’s brutal and we’re hoping to significantly reduce both of our commutes if possible.

@Melkerson

If your wife needed one, the two of you could make it happen. It’s not riskless as there could be some emergent care situation.

Yeah she’s not comfortable with it, and I don’t blame her. It probably only removes one of our realistic options for T/20+ locations, so long term it’s not a huge deal.

[d10]

@Jman220

The SALT Cap is $10k. The standard deduction for Married filing jointly is 27k. That means that in order for itemizing to make sense you have to be paying greater than $17k in mortgage interest. The majority of people (myself included) are not paying more than $17k a year in mortgage interest.

1. I thought we were talking about people who are capping the mortgage interest deduction. They are almost all paying more than $17k/year in mortgage interest.

2. Someone buying a house right now will almost certainly be paying more than $17k/year in mortgage interest.

3. As discussed, the numbers change considerably for single homeowners.

4. Not really discussed but previously mentioned, state taxes can have a significant effect. As an example, married homeowners in Maryland with $150k joint income should take itemized deductions if they can claim $21715. They’ll be increasing their federal taxable income by $6k but decreasing their state taxable income by $16.5k.

[boredsocial]

https://www.washingtonpost.com/health/2024/01/22/biden-abortion-contraception/

Sounds like the plan is to run on abortion. Looks like the same play call as student loan forgiveness to me. He’s going to make them kill it in the court and further contrast themselves on an issue that polls 70-30 the wrong way.

[riverman]

Here’s another reason millennials actual lived experience isn’t captured by macroeconomics:

https://x.com/dkthomp/status/1749828371142385809?s=46&t=XGja5BtSraUljl_WWUrIUg

[commonWealth]

So what comes next… I guess just more housing for now? When we get old, medical and long-term care costs are going to be so high that a nice bottle of Scotch and a bullet might be the sane decision.

I guess those will inflate bigly for the Boomers too, much of which will fall to Millennials. Filial law is going to be in the news in a few years.

[LouisCyphre]

TVs - 97.8%

How did they come up with that number? It’s true that TVs have been steadily become more affordable but no way did TVs cost 50x as much even if you factor the larger screens and better technology.

[riverman]

lol come on now

Sweet summer child, there is definitely a chance this turns into a rout with trials and normies seeing how fucking horrifying he’s gotten

https://x.com/umichvoter/status/1749821685333635409?s=46&t=XGja5BtSraUljl_WWUrIUg

[commonWealth]

That would be around Biden +10 nationally. Like, that’s FL/OH/TX in play and NC solidly blue.

Probably an outlier, but good news regardless. If the outliers are Biden +8 in Pennsylvania, we’re doing just fine.

[riverman]

I mean, duh, let’s not go sucking each others dicks just yet, but this is obviously true.

https://x.com/jonlemire/status/1749757575514431804?s=46&t=XGja5BtSraUljl_WWUrIUg

[riverman]

Like, look at this shit. Plaster this guy on TV starting now.

https://x.com/acyn/status/1749536277232337013?s=46&t=XGja5BtSraUljl_WWUrIUg

https://x.com/bidenhq/status/1749638608577761385?s=46&t=XGja5BtSraUljl_WWUrIUg

https://x.com/bigbluewaveusa/status/1749519924559798755?s=46&t=XGja5BtSraUljl_WWUrIUg

[Surf]

wtf these all from speeches last day or two?

[riverman]

Yes. We’re mostly immune to it from being sickos but this is going to be noticeably different from the guy most Normie voters remember.

[LouisCyphre]

Counterpoint: Trump got 10 million more votes the second time around

[otatop]

Counter-counterpoint: He still lost by 7 million votes

[smrk5]

Counter counter counter point: the election will be decided by about 300k people spread across 5 states