Bizarro World 2025

[doris13]

olds our senior plan gets me back between 15 -20% so it works for me.when i bought this house 33 years ago i paid $165,000,now i can get about $500,000 for it but where would i go?

[olds442jetaway]

Exactly. So many people in the same boat.

[OTABILL]

Olds, Chandler AZ, where I live, has lowered its primary property tax rate for the ninth consecutive year to help offset the impact of rising property values. Helps.

[olds442jetaway]

. Anywhere an hour or so drive from NYC you are pretty much screwed tax wise.

[FAA]

Arizona dreaming!

[olds442jetaway]

A solo trip is planned for tonight and the Mrs and I for this coming Tuesday assuming we can finish cleanup and repairs today from the recent storm. I posted about it in OMT’s thread about the Big Beautiful Bill disaster for gamblers. Thanks again OMT for alerting us to this disaster for gamblers. From now on, I will call it BBB for short. Similar to a poor bond rating. . O well, just drives me further from VP and back into the Market where all losses and more can be written off from taxes and no more free crooked ride from my State either. We should be able to use the old rules the rest of 2025, then hopefully starting in 2026, it will be Pennie’s from heaven for us on our VP play! There are a lot of other booby traps in this bill as well. Big one on making Social Security non taxable. The deduction is not a deduction for SS at all. All they did was raise the std deduction by 6,000 and 12k for couples. However, it applies to all types of income!! Not only that, it starts to be phased out at 75k and 150k of income for couples and if couples make 250k, you get nothing. Not only that, if you itemize your deductions, it won’t help you at all no matter how low your income is as it only applies to those who take the standard deduction. So bottom line is it is not a direct and specific law that makes Social Security retirement income non taxable period. It also doesn’t start until one turns 65 either. Lots more will come out in the news on all of this. These are just some of the highlights or low lights for us anyway.

[olds442jetaway]

BBB continued. Here are a couple of screenshots I sent to friends and family with an example. Just to add in the example, the phaseout starts at 150k and at 250k there is no extra standard deduction even if 65 and older. And of course if you itemize, no matter what, all benefit is lost.

[olds442jetaway]

I can’t even imagine what this bill will do to live professional poker players. It could end it for them.

[Tedlark]

Good luck to you and Mrs. olds, tonight, and Tuesday.

[olds442jetaway]

Thanks Ted! For anyone who hasn’t tried an electric Raclette Grill, this is how nicely they cook. Marinated 48 hours in a cold fridge, then cooked on the Raclette. Added baby brussels sprouts, potato salad, and coleslaw Yum. Need my energy for a possible Marathon tonight. . This one ( grill ) was a Bizarro giveaway about 4 years ago. . Need a break after taking care of storm damage the last 2 days. Last, but certainly not least my prayers go out for those lost in the horrible Texas floods and their families