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(Fox News)   Unable to hide his admiration any longer, California's Gov Newsom praises President Trump   (foxnews.com) divider line
    More: Cool, San Francisco, California, California Gov. Gavin Newsom, San Francisco Bay, San Francisco Bay Area, San Jose, California, Taxation, Opportunity Zones program  
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3657 clicks; posted to Politics » on 19 Mar 2019 at 6:59 PM (13 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2019-03-19 03:16:14 PM  
The Opportunity Zones program is part of the 2017 Tax Cuts and Jobs Act and looks to bring down the capital gains taxes for investors in real estate and business in low income neighborhoods. The program would permit investors to pay no capital gains taxes - which can run as high as 20 percent - after holding on to an investment for 10 years.

Hmm yes let's help low income neighborhoods by *checks notes* giving rich people more money.
 
2019-03-19 03:26:54 PM  

Dusk-You-n-Me: The Opportunity Zones program is part of the 2017 Tax Cuts and Jobs Act and looks to bring down the capital gains taxes for investors in real estate and business in low income neighborhoods. The program would permit investors to pay no capital gains taxes - which can run as high as 20 percent - after holding on to an investment for 10 years.

Hmm yes let's help low income neighborhoods by *checks notes* giving rich people more money.


Yeah, to my eyes, this looks like a "let's get people to buy up the poor areas for tax shelter purposes, eventually driving up costs even further".

Purchasing property is not the same thing as investing in property.  The latter connotes taking care of it and even improving it as necessary, and I doubt that's going to happen.  If the drop in tax were tied to material improvement in property value without a corresponding increase in rental price, then sure.  But that's not what this is.
 
2019-03-19 03:43:07 PM  

Dusk-You-n-Me: The Opportunity Zones program is part of the 2017 Tax Cuts and Jobs Act and looks to bring down the capital gains taxes for investors in real estate and business in low income neighborhoods. The program would permit investors to pay no capital gains taxes - which can run as high as 20 percent - after holding on to an investment for 10 years.

Hmm yes let's help low income neighborhoods by *checks notes* giving rich people more money.


The law's fair, I mean poor people are free to drop $5 million into building apartments too.
 
2019-03-19 04:13:55 PM  

obenchainr: Dusk-You-n-Me: The Opportunity Zones program is part of the 2017 Tax Cuts and Jobs Act and looks to bring down the capital gains taxes for investors in real estate and business in low income neighborhoods. The program would permit investors to pay no capital gains taxes - which can run as high as 20 percent - after holding on to an investment for 10 years.

Hmm yes let's help low income neighborhoods by *checks notes* giving rich people more money.

Yeah, to my eyes, this looks like a "let's get people to buy up the poor areas for tax shelter purposes, eventually driving up costs even further".

Purchasing property is not the same thing as investing in property.  The latter connotes taking care of it and even improving it as necessary, and I doubt that's going to happen.  If the drop in tax were tied to material improvement in property value without a corresponding increase in rental price, then sure.  But that's not what this is.


Yeah, I first read that about the Opportunity Zones and was like "huh, that sounds pretty good."  But the way you put it.... not so much now. :/

So, it's weird why a progressive governor would be so happy with this particular policy.  *shrug*  Unless he did what I just did and took the policy at face value, not thinking about the deeper ramifications.
 
2019-03-19 04:14:28 PM  
in fact, if anything, that would make housing, etc, even MORE scarce I would think.
 
2019-03-19 05:53:02 PM  
Maybe this is some kind of reverse psychology jujitsu? "The liberal said he likes it?? Imma repeal it!"
 
2019-03-19 07:00:28 PM  
Why is he cheering on a possible grift?
 
2019-03-19 07:02:13 PM  

xanadian: obenchainr: Dusk-You-n-Me: The Opportunity Zones program is part of the 2017 Tax Cuts and Jobs Act and looks to bring down the capital gains taxes for investors in real estate and business in low income neighborhoods. The program would permit investors to pay no capital gains taxes - which can run as high as 20 percent - after holding on to an investment for 10 years.

Hmm yes let's help low income neighborhoods by *checks notes* giving rich people more money.

Yeah, to my eyes, this looks like a "let's get people to buy up the poor areas for tax shelter purposes, eventually driving up costs even further".

Purchasing property is not the same thing as investing in property.  The latter connotes taking care of it and even improving it as necessary, and I doubt that's going to happen.  If the drop in tax were tied to material improvement in property value without a corresponding increase in rental price, then sure.  But that's not what this is.

Yeah, I first read that about the Opportunity Zones and was like "huh, that sounds pretty good."  But the way you put it.... not so much now. :/

So, it's weird why a progressive governor would be so happy with this particular policy.  *shrug*  Unless he did what I just did and took the policy at face value, not thinking about the deeper ramifications.


It has to be that. Newsom is unlikely to approve anything Trump does, short of dying horribly.
 
2019-03-19 07:04:47 PM  

Dusk-You-n-Me: The Opportunity Zones program is part of the 2017 Tax Cuts and Jobs Act and looks to bring down the capital gains taxes for investors in real estate and business in low income neighborhoods. The program would permit investors to pay no capital gains taxes - which can run as high as 20 percent - after holding on to an investment for 10 years.

Hmm yes let's help low income neighborhoods by *checks notes* giving rich people more money.


Opportunity Zones existed before Trump. Did they just increase the tax breaks? I know for a while too these zones have been a thing for government contracting. Some types of contracts need to give priority to businesses located in opportunity zones.
 
2019-03-19 07:15:04 PM  
But Libs are know nothing idiot traitors therefore...
 
2019-03-19 07:20:53 PM  
This is what it said:
Newsom on Monday offered rare praise of a Trump administration policy that provides tax breaks to spur investment

And this is what I read:
Newsom on Monday offered rare praise of a Trump administration policy that provides tax breaks to bone spurs investment
 
2019-03-19 07:28:44 PM  
Is it just me ? but that sounds like a green light for low tax incentives to kick low income people out of the only areas they can afford and gentrify the F out of it
 
2019-03-19 07:31:39 PM  
FAKE NEWSOM
 
2019-03-19 07:35:43 PM  
Make every area of the country "opportunity zones" by giving the poor and middle class economic security.
 
2019-03-19 07:36:50 PM  
No capital gains tax (already low) in California's real estate market? What am I missing here, that just seems like another tax break for the wealthy...

Newsom said. "I appreciate your interest. I hope it's not just to make a quick buck."

Dude? You serious? You feeling ok? You drunk?

Oh, DO NOT read the comments! They gave me a case of the malaria-pox shingles and 1/2 a case of the dumbs.
 
2019-03-19 07:38:53 PM  
If this is the same FOZs Im familiar with, its hardly worth the time. Oh, and it had jack all to do with the Trump admin. You get to reinvest capital gains taxes in preapproved locations. Its a long term finance scheme with payouts for 5 7 and 10 year intervals. Something like 20-50% reduction in your tax outlay. You have to upgrade property equal to your benefit. How these places were picked? Now there's a question! The governors got to pick. It was some shady shiat here, basically applications were broadcast to certain municipalities and the window to actually put something together was tight as hell, locking out areas where you weren't politically useful. This cut party lines btw. Trump had fark all in this.
 
2019-03-19 07:41:18 PM  

kindms: Is it just me ? but that sounds like a green light for low tax incentives to kick low income people out of the only areas they can afford and gentrify the F out of it


Well, yeah but Gavin (bless his heart) probably thinks it will improve the area for the current low income inhabitants.
 
2019-03-19 07:50:48 PM  

Dusk-You-n-Me: The Opportunity Zones program is part of the 2017 Tax Cuts and Jobs Act and looks to bring down the capital gains taxes for investors in real estate and business in low income neighborhoods. The program would permit investors to pay no capital gains taxes - which can run as high as 20 percent - after holding on to an investment for 10 years.

Hmm yes let's help low income neighborhoods by *checks notes* giving rich people more money.


They aren't being "given" anything, they're just getting a promise that if they make an investment that a big chunk of any gains it makes won't be taxed away. Same deal as Amazon was trying to strike in New York City.

This is the way it's done now. Jack up taxes to high levels and when that dampens business you selectively ease them for those with connections. Fair? No. Efficient? No. Crony capitalism? Yes. But that's the system we've built. If you don't like it, feel free to tell your representatives that you'd like taxes lowered and made more equitable for everybody, not just the fat cats.
 
2019-03-19 07:54:01 PM  
Part of me thinks Donnie Dipshiat will rescind it, because he had no idea it might potentially help poor people.
 
2019-03-19 07:54:33 PM  

jjorsett: They aren't being "given" anything


Okay then let's take these rich middle men right out of the equation and instead send that money to the poor people in these poor neighborhoods to help them directly. You'd have no problem with that, right, since nobody is being given anything.
 
2019-03-19 07:55:16 PM  
Gee... Who wants to guess these neighborhoods become a bit... "lighter" in shade.
 
2019-03-19 07:56:39 PM  
LYING SCUM. trump, his family and everyone who supports him are lying scum.
 
2019-03-19 08:26:30 PM  

Dusk-You-n-Me: Hmm yes let's help low income neighborhoods by *checks notes* giving rich people more money.


Do you want wealth redistribution or not?  This post seems mighty hypocritical and misguided.

Reduce taxes on what you want to promote, increase taxes on things you want to discourage.
 
2019-03-19 08:27:02 PM  

jmr61: LYING SCUM. trump, his family and everyone who supports him are lying scum.


I love the size of your brush.
 
2019-03-19 08:29:47 PM  

JDAT: Well, yeah but Gavin (bless his heart) probably thinks it will improve the area for the current low income inhabitants.


That is the intent
 
2019-03-19 08:31:16 PM  

HeadLever: Do you want wealth redistribution or not?


I do, I just know this market based neoliberal bullsh*t isn't necessary to accomplish it.
 
2019-03-19 08:37:30 PM  

obenchainr: Dusk-You-n-Me: The Opportunity Zones program is part of the 2017 Tax Cuts and Jobs Act and looks to bring down the capital gains taxes for investors in real estate and business in low income neighborhoods. The program would permit investors to pay no capital gains taxes - which can run as high as 20 percent - after holding on to an investment for 10 years.

Hmm yes let's help low income neighborhoods by *checks notes* giving rich people more money.

Yeah, to my eyes, this looks like a "let's get people to buy up the poor areas for tax shelter purposes, eventually driving up costs even further".

Purchasing property is not the same thing as investing in property.  The latter connotes taking care of it and even improving it as necessary, and I doubt that's going to happen.  If the drop in tax were tied to material improvement in property value without a corresponding increase in rental price, then sure.  But that's not what this is.


Do you really think that made sense?
If the tax break is on capital gains then the rental price is immaterial. The gains are improvements in  property value, directly. Whether or not this is a good deal depends on multiple things but what you wrote doesn't really make much sense.
 
2019-03-19 08:39:18 PM  

Dusk-You-n-Me: I do, I just know this market based neoliberal bullsh*t isn't necessary to accomplish it.


Sure, you can print money from the treasury and dump it out of a C130 over these areas and that would work as well.

That does not mean that this kind of policy will not be effective at helping to bring capital into these areas.  You whine and complain that the rich are not paying their fair share, but when policies come along that incentive the rich to invest into these distressed communities, we still find you whinging and complaining.

Seems mighty hypocritical to me.
 
2019-03-19 08:42:26 PM  

HeadLever: Sure, you can print money from the treasury and dump it out of a C130 over these areas and that would work as well.

That does not mean that this kind of policy will not be effective at helping to bring capital into these areas.  You whine and complain that the rich are not paying their fair share, but when policies come along that incentive the rich to invest into these distressed communities, we still find you whinging and complaining.

Seems mighty hypocritical to me.


You're making up policies and assigning them to me. Why stop at helicopters? Dream bigger. And I could give a f*ck what you think is hypocritical. Go jerk off to Hauser you f*cking clown.
 
2019-03-19 08:46:05 PM  

Dusk-You-n-Me: You're making up policies and assigning them to me


And you are dismissing policies that help low income places just because you don't like the person in office.

You don't refute the proposition that this policy helps the poor.  You just take umbrage with who implemented it. This is the definition of what most people consider to be a political hack.
 
2019-03-19 08:48:07 PM  
I sure would luuuuuvvvvvv to hear Gavin's opinion on Don Jr.'s crush/Trump's future daughter-in-law.
 
2019-03-19 08:50:00 PM  

HeadLever: And you are dismissing policies that help low income places just because you don't like the person in office.

You don't refute the proposition that this policy helps the poor.


I don't need to refute was hasn't been proven. Maybe these programs do help the poor. Maybe they're a slush fund that help rich prick landlords own even more wealth.

HeadLever: You just take umbrage with who implemented it.


I take umbrage with the idea that to help poor people we should give rich people more money. I could give a f*ck if it's from Trump or Newsom. Please be done making up sh*t you think I believe. It is f*cking juvenile.
 
2019-03-19 08:55:44 PM  

Dusk-You-n-Me: I don't need to refute was hasn't been proven


Keep your head in the sand.  For a newly-implemented program there is a bit of buzz about it.
1
2
3

What are the other options - let the government do the reinvestment?  The same government that currently has Trump and Ben Carson at the helm?  Hard pass for me.
 
2019-03-19 08:57:58 PM  

xanadian: obenchainr: Dusk-You-n-Me: The Opportunity Zones program is part of the 2017 Tax Cuts and Jobs Act and looks to bring down the capital gains taxes for investors in real estate and business in low income neighborhoods. The program would permit investors to pay no capital gains taxes - which can run as high as 20 percent - after holding on to an investment for 10 years.

Hmm yes let's help low income neighborhoods by *checks notes* giving rich people more money.

Yeah, to my eyes, this looks like a "let's get people to buy up the poor areas for tax shelter purposes, eventually driving up costs even further".

Purchasing property is not the same thing as investing in property.  The latter connotes taking care of it and even improving it as necessary, and I doubt that's going to happen.  If the drop in tax were tied to material improvement in property value without a corresponding increase in rental price, then sure.  But that's not what this is.

Yeah, I first read that about the Opportunity Zones and was like "huh, that sounds pretty good."  But the way you put it.... not so much now. :/

So, it's weird why a progressive governor would be so happy with this particular policy.  *shrug*  Unless he did what I just did and took the policy at face value, not thinking about the deeper ramifications.


One thing I've noticed is that a lot of times well meaning people seem to assume everyone is well meaning.
 
2019-03-19 08:58:06 PM  

HeadLever: Dusk-You-n-Me: You're making up policies and assigning them to me

And you are dismissing policies that help low income places just because you don't like the person in office.

You don't refute the proposition that this policy helps the poor.  You just take umbrage with who implemented it. This is the definition of what most people consider to be a political hack.


We have a trickle down-er here, everyone. Let the autism commence...
 
2019-03-19 09:01:28 PM  
Remember, anyone who challenges any of Gavin Newsom's failures or tone deafness is automatically a Russian. Please, proceed.
 
2019-03-19 09:06:22 PM  

Dusk-You-n-Me: I take umbrage with the idea that to help poor people we should give rich people more money


You give rich people money because they give you stuff.  And you pay for it willingly and still complain that they get rich.  You are posting from a computer (or phone, you likely have both) that is using power that is made from all sorts of minerals.  You are giving money to these rich people as you sit here arguing with me about the evils of giving rich people money.  Microsoft, Apple, PG&E, Freeport McMoRan, Newmont, et al. thank you for your generous business.

Sucks if we had incentives that would make their CEOs invest more into these areas.
 
2019-03-19 09:07:30 PM  

it's interesting ...: Why is he cheering on a possible grift?


Because he stands to make significant personal profit?
 
2019-03-19 09:07:57 PM  

JerryHeisenberg: We have a trickle down-er here, everyone.


Trickle down reinforced by tax policy.  I'd rather have that than government policy ran by any of the last 3 administrations.  Especially, the current one.
 
2019-03-19 09:09:55 PM  

HeadLever: You give rich people money because they give you stuff.  And you pay for it willingly and still complain that they get rich.  You are posting from a computer (or phone, you likely have both) that is using power that is made from all sorts of minerals.  You are giving money to these rich people as you sit here arguing with me about the evils of giving rich people money.  Microsoft, Apple, PG&E, Freeport McMoRan, Newmont, et al. thank you for your generous business.

Sucks if we had incentives that would make their CEOs invest more into these areas.


Rich people didn't build my phone, labor did. The -ism just decides who gets paid. Crawl out of my ass with this rambling high school libertarian nonsense or I will block you forever.
 
2019-03-19 09:09:59 PM  

HeadLever: Dusk-You-n-Me: I take umbrage with the idea that to help poor people we should give rich people more money

You give rich people money because they give you stuff.  And you pay for it willingly and still complain that they get rich.  You are posting from a computer (or phone, you likely have both) that is using power that is made from all sorts of minerals.  You are giving money to these rich people as you sit here arguing with me about the evils of giving rich people money.  Microsoft, Apple, PG&E, Freeport McMoRan, Newmont, et al. thank you for your generous business.

Sucks if we had incentives that would make their CEOs invest more into these areas.


img.fark.netView Full Size
 
2019-03-19 09:17:51 PM  

Dusk-You-n-Me: Rich people didn't build my phone, labor did.


Both did.  If it weren't for the 'rich', there would be no capital in which the labor was even hired.  There would be no hiring of the engineers to design the phone, there would be no investment to build the factory to produce the phone or its materials.

In today's economy, you need both.  One doesn't survive without the other.
 
2019-03-19 09:21:28 PM  

HeadLever: Both did.  If it weren't for the 'rich', there would be no capital in which the labor was even hired.  There would be no hiring of the engineers to design the phone, there would be no investment to build the factory to produce the phone or its materials.

In today's economy, you need both.  One doesn't survive without the other.


I know you are constantly super thirsty to act the contrarian to every single f*cking post I ever make in these threads but I am not having this conversation with you. Or any other for that matter. Have a nice life, Hauser boy. You and I are done.
 
2019-03-19 09:23:00 PM  
JerryHeisenberg:

[img.fark.net image 671x396]

Those that give to charity might surprise you, then.
 
2019-03-19 09:24:15 PM  

Dusk-You-n-Me: I know you are constantly super thirsty to act the contrarian to every single f*cking post I ever make in these threads but I am not having this conversation with you.


Because you are a poor loser that can't argue in any sort of rational manner?  Ok. Bye.
 
2019-03-19 09:39:25 PM  

Dusk-You-n-Me: I know you are constantly super thirsty to act the contrarian to every single f*cking post I ever


If your point wasn't misguided, I'd not have to act as a contrarian. There is not dispute about my point so I am not sure why you would get mad at it unless you are simply of the belief that any attack on your misguided point is a personal attack on you.

If I popped your echo chamber bubble, I am sorry.  OK, maybe not.
 
2019-03-19 09:41:00 PM  

HeadLever: JerryHeisenberg:

[img.fark.net image 671x396]

Those that give to charity might surprise you, then.


Can't access due to the paywall, but your point is irrelevant. This is just another reason to implement extremely progressive taxation policies.
 
2019-03-19 09:48:57 PM  

JerryHeisenberg: HeadLever: JerryHeisenberg:

[img.fark.net image 671x396]

Those that give to charity might surprise you, then.

Can't access due to the paywall, but your point is irrelevant. This is just another reason to implement extremely progressive taxation policies.


Hmm, New York Times is blocked for you?  I get blocked by quite a bit, but never from the Times.
OK, here is an alternative, but similar study.

Regarding your point, you are wanting to feed more money into the federal government in the hopes that they may turn around and trickle down this money to those that need it.  I don't have this faith in government.  If I were to ask you in a separate discussion if you would trust a Trump-ran government, you would likely agree with me as well.

I trust individuals and corporations acting on self-interest impulses more than I trust a Trump and Carson led government to do the right thing and support low income people and places.
 
2019-03-19 09:55:14 PM  

JerryHeisenberg: This is just another reason to implement extremely progressive taxation policies.


Also, don't forget that government spending is completely independent of tax policy.  Remember, we are running about a $1 Trillion deficit.  If the government brings in another $500 Billion in tax revenue from your progressive taxation policies, what is to stop them from simply decreasing the deficit and not increasing any spending in these poor neighborhoods?   The answer is - Nothing.
 
2019-03-19 10:08:16 PM  

HeadLever: JerryHeisenberg: This is just another reason to implement extremely progressive taxation policies.

Also, don't forget that government spending is completely independent of tax policy.  Remember, we are running about a $1 Trillion deficit.  If the government brings in another $500 Billion in tax revenue from your progressive taxation policies, what is to stop them from simply decreasing the deficit and not increasing any spending in these poor neighborhoods?   The answer is - Nothing.


"$500 Billion in tax revenue"- completely made-up number, irrelevant anyways because...
"simply decreasing the deficit"- In the long-term it wouldn't be necessary to even consider this. Current military deficit spending is massively contributing to the U.S.' problem:
img.fark.netView Full Size


Is the above graph representative of the Libertarian mechanism of defending the U.S. Galt gulch paradise from outside invasion? Seems to run counter to what Libertarians believe.
 
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