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it's called "angel" investing because it's only one step removed from charity
by pgustafs 1y ago
it's called "angel" investing because it's only one step removed from charity
- ryanmerket 1y agomy charity donations are capped with the IRS. But my cap gains (and losses) live forever.
- astrange 1y agoAlmost everyone's charity donations are worth zero with the IRS since everyone takes the standard deduction now.
- helixfelix 1y agoYour comment made me realize what a bubble of privilege I live in. I raised my eyebrow at "everyone takes" standard deduction. How is that possible with home prices and interest rates? Even a modest 300-400k house at 5-6% interest, property taxes, local sales tax deductions and minimum charity would exceed the standard deduction. Where I live good luck finding anything more than a condo for less than a million. Turns out 90% take standard deduction. This is another way to track the extreme "wealth" gap emerging. Only the wealthy itemize.
- ip26 1y agoIt’s more of a reality when home prices are over a million, or in a state with high property taxes. Be married, live in a state with low property taxes, buy a house for 700k… and you’re taking the standard.
- alabastervlog 1y agoWe have a house more expensive than that, an interest rate around the top of that range, live in a state with somewhat high property taxes, and had at least $4k in health care spending on top of insurance premiums (no big problems, that's just what a handful of minor kid-related issues in a year costs in the US) and still wouldn't have done better itemizing. We took the standard for 2024. We're ~92nd percentile for household income.
- bombcar 1y agoMarried makes it huge, and many people own their homes on older loans. I’ve never gotten close since it was raised.
- rbanffy 1y agoCan I be a demon investor? That’d be a dream job.
- n20benn 1y agoI believe that's the sentiment the "Shark Tank" or "Dragon's Den" series are trying to hint at.
- linkjuice4all 1y agoIt’s just called investor at that point.
- rbanffy 1y agoInvestors are in for the money. I’d be in for the sadistc side. But not really. I wish I could be that evil. I’d be a lot richer if I were willing to play that kind of game.