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Hi, did anybody ever experience wrong tax calculations by JPMC Payroll/tax team ? Or is there any specific month where they deduct more tax. Huge amount of tax deduction is done for Oct payout. From my CA’s calculation the amount deducted by JPMC team looks wrong. Anybody experienced this?
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Well, I don’t think that owning a home is a basic human right. But I do think having shelter and a home to live in is.
LA will always be extremely expensive, but there are certain legislative acts that could greatly help the housing crisis (in no particular order):
1. Restrict corporations and LLCs from owning more than x amount of homes
2. Make permitting for ADUs easier and cheaper to obtain
3. Impose a landlord tax for all homes an individual owns in excess of two properties
4. Adjust the property tax laws that allow people who live in very expensive homes to pay essentially nothing in property tax
5. Build more housing
6. Get the homelessness and crime issues resolved so that places that are disproportionately affected become livable and hospitable for normal people and families
7. Lower the income tax brackets on income less than $400,000 a year and significantly increase the brackets on income above $400,000
8. Make corporations pay their fair share of taxes and relieve the middle class from fronting the bill
9. Legislatively encourage companies to permit remote work so that people are able to live farther from their offices in the city center
Those are a good start.
Agreed with almost all of this! As someone who has a household income of just barely over 400k, I think we’re taxed plenty and are still very middle class with the cost of living here. I don’t think we should pay less in taxes than we do as I understand we’re fortunate but I think the further increase in taxes should be on those higher than 400k, maybe around 750k+.
I love Los Angeles and built my career there. I was married there and my child was born at UCLA last year, Truly a place where dreams come true. except for when it comes to housing. In a city like LA (and all of Southern California) I imagine it’s a supply and demand issue? Despite what outsiders want you to believe, California is a desirable place to live. Anyway, I just bought a two-story house with a pool in Phoenix for the price of rent in LA. Do what you will with that info.
The French Revolution ended feudalism. What we are seeing now is feudalism 2.0, contained in a capitalism wrapper. Notice how landlords still use the word “lord” a-la their feudal lord ancestors.
The only way to fix this is by severely disincentivizing landlordism and speculative real estate.
Good luck with that; most people jump at the chance of vacuuming wealth from their neighbors and think they “earned” or deserve perpetual money by scalping and hoarding shelter.
If we weren't so deeply rooted with family we'd leave. I actually have no interest in buying in SoCal but am appreciative of renting in a great community.
I find home ownership overwhelming and not worth the responsibility, but I say this as a renter who has been blessed with an amazing landlord. Perhaps in a different scenario I'd have another opinion.
With housing prices as high as they are, who would wanna own? every house is basically 1.2 million to start, so that’s about $7-8k in mortgage and I’d rather not be strapped and stressed when the inevitable repairs come up on top of a mortgage I can hardly afford. Sucks to love it here but I do.
Why do you think owning a home is a basic human right? Shelter may be, but owning a home certainly is not.
It’s happening outside of the USA. It’s happening in Canada, the UK, and more. It’s a failure of late-stage capitalism.
Capitalism was originally supposed to be the antidote against feudalism. Capitalism was based on industrial revolution, innovation, and the production of real things being the incentives to generate wealth.
But it eventually became feudalism yet again, where hoarding land and homes became a way for the lucky few to siphon wealth from the majority, without having to do any real work or innovate anything. It’s one thing to become a multi-millionaire by inventing something, starting a business, or making smart investments in productive companies in the stock market. But it’s another thing to become a multi-millionaire by purchasing a glut of homes just to scalp them for profit, or to rent them out in perpetuity. Landlordism is literally making money by hoarding/taking, not producing much of anything for the economy. When landlords (i.e., economic leeches) make more money than productive companies and productive people, eventually the system breaks. We’re now seeing massive cracks.