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RE: If by tax credit, a dollar for dollar reduction in taxes

Posted on: August 31, 2024 at 08:33:04 CT

BH O'bonga MU

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M.O.B. Votes:

Some credits can only be used to offset taxes owed. Others are paid to the filer regardless of tax liability. If this proposed credit can only be used to pay a part of the downpayment, I suspect the Harris campaign are thinking the later.

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Libs - do you think Harris' 25K tax credit for 1st time home - 90Tiger STL - 8/31 08:10:56

If by tax credit, a dollar for dollar reduction in taxes - TigerMatt STL - 8/31 08:19:39

RE: If by tax credit, a dollar for dollar reduction in taxes - BH O'bonga MU - 8/31 08:33:04

Let’s assume it is really a $25K payout called a tax credit. - TigerMatt STL - 8/31 08:57:33

So by "positive step" you meant it will make housing - phrejd KC - 8/31 09:05:02

No. If it is a tax credit that just reduces taxes owed, then - TigerMatt STL - 8/31 09:08:25

So it would be harder to buy a house - phrejd KC - 8/31 09:12:15

Two different scenarios. One, a tax credit that reduces - TigerMatt STL - 8/31 09:17:45

Both will increase them(nm) - tman MU - 8/31 10:56:09

Nein. You are arguing that taxation is good to keep down - TigerMatt STL - 8/31 11:21:36

Tax cuts put more money in people’s pockets - haeffb MU - 8/31 11:42:34

So increasing taxes is good because it will bring down the - TigerMatt STL - 8/31 14:32:09

They both increase home prices, Matt (nm) - phrejd KC - 8/31 09:23:30

That's highly unlikely. - tigerdb MU - 8/31 12:28:28

Nah. The first scenario, that $25K return on taxes - TigerMatt STL - 8/31 09:28:32