Comments on: Housing Market Madness? A New Push for a Bigger Homebuyer Tax Credit http://washingtonindependent.com/46449/housing-market-madness-a-new-push-for-a-bigger-homebuyer-tax-credit National News in Context Tue, 31 Jan 2012 02:40:51 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: danstephens http://washingtonindependent.com/46449/housing-market-madness-a-new-push-for-a-bigger-homebuyer-tax-credit/comment-page-1#comment-40685 danstephens Fri, 03 Jul 2009 23:34:56 +0000 http://washingtonindependent.com/?p=46449#comment-40685 Why is Congress doling out tax credits only for special groups of taxpayers and no-strings attached TARP taxpayer money to save money center banks, who then went right ahead and slashed credit card credit lines and raised credit card interest rates and payments, thereby destroying million of consumers, as cynical appreciation of those taxpayers? If taxpayers must use federal money to try to rescue the economy from the financial crisis, then federal loans should be fairly available to all adult citizens to help them transform excess mortgage debt and credit card debt to low-interest long-term federal debt.<br><br>The right program would not only free up home equity, and transform a lot of burdensome risky consumer debt, it would automatically liquefy lenders balance sheets in an equitable manner. It would do it without increasing the federal deficit, and, in fact, would reduce the debt since the loans aren't expenses, would carry interest income, would make the economy recover thereby increasing tax revenues, allow repayment of TARP funds, and would decrease the need for the many federal special loan programs and guarantees that will inevitably be triggered by a long grinding economic recession or a very slow recovery that we're facing. One such program is The AllStreets Bailout detailed at <a href="http://www.themortgagenews.info" rel="nofollow">www.themortgagenews.info</a>. Why is Congress doling out tax credits only for special groups of taxpayers and no-strings attached TARP taxpayer money to save money center banks, who then went right ahead and slashed credit card credit lines and raised credit card interest rates and payments, thereby destroying million of consumers, as cynical appreciation of those taxpayers? If taxpayers must use federal money to try to rescue the economy from the financial crisis, then federal loans should be fairly available to all adult citizens to help them transform excess mortgage debt and credit card debt to low-interest long-term federal debt.

The right program would not only free up home equity, and transform a lot of burdensome risky consumer debt, it would automatically liquefy lenders balance sheets in an equitable manner. It would do it without increasing the federal deficit, and, in fact, would reduce the debt since the loans aren't expenses, would carry interest income, would make the economy recover thereby increasing tax revenues, allow repayment of TARP funds, and would decrease the need for the many federal special loan programs and guarantees that will inevitably be triggered by a long grinding economic recession or a very slow recovery that we're facing. One such program is The AllStreets Bailout detailed at http://www.themortgagenews.info.

]]> By: CS http://washingtonindependent.com/46449/housing-market-madness-a-new-push-for-a-bigger-homebuyer-tax-credit/comment-page-1#comment-35944 CS Fri, 12 Jun 2009 02:02:21 +0000 http://washingtonindependent.com/?p=46449#comment-35944 Lawmakers 'came up with' the idea the same way they 'come up with' all their ideas--by industry lobbying and generous campaign donations from special interests who stand to profit. The real estate, mortgage, and homebuilding industries are among the most powerful in DC, unfortunately. Perhaps this is why our govt allowed this industry to take out the economy and is now entertaining these same folks in senate and house committee meetings, etc, instead of investigating more of them for wrongdoing. Lawmakers 'came up with' the idea the same way they 'come up with' all their ideas–by industry lobbying and generous campaign donations from special interests who stand to profit. The real estate, mortgage, and homebuilding industries are among the most powerful in DC, unfortunately. Perhaps this is why our govt allowed this industry to take out the economy and is now entertaining these same folks in senate and house committee meetings, etc, instead of investigating more of them for wrongdoing.

]]> By: Kermit http://washingtonindependent.com/46449/housing-market-madness-a-new-push-for-a-bigger-homebuyer-tax-credit/comment-page-1#comment-35945 Kermit Thu, 11 Jun 2009 20:07:46 +0000 http://washingtonindependent.com/?p=46449#comment-35945 The right kind of credit is a credit to all owner-occupied households within 500 feet of a house in foreclosure. The amount of the credit should be measured monthly so that the longer a house sits in foreclosure the more credit is delivered to neighbors who suffer the economic loss and the diminished quality of life that foreclosure visits on neighbors. The recipients would be able to maintain their homes better and would be less likely to abandon the neighborhood if their economic and insecurity were recognized and there was a reward for remaining a vital part of the neighborhood. That is a tax credit aimed directly at neighborhood stabalization. The right kind of credit is a credit to all owner-occupied households within 500 feet of a house in foreclosure. The amount of the credit should be measured monthly so that the longer a house sits in foreclosure the more credit is delivered to neighbors who suffer the economic loss and the diminished quality of life that foreclosure visits on neighbors. The recipients would be able to maintain their homes better and would be less likely to abandon the neighborhood if their economic and insecurity were recognized and there was a reward for remaining a vital part of the neighborhood. That is a tax credit aimed directly at neighborhood stabalization.

]]> By: CS http://washingtonindependent.com/46449/housing-market-madness-a-new-push-for-a-bigger-homebuyer-tax-credit/comment-page-1#comment-33418 CS Thu, 11 Jun 2009 19:02:21 +0000 http://washingtonindependent.com/?p=46449#comment-33418 Lawmakers 'came up with' the idea the same way they 'come up with' all their ideas--by industry lobbying and generous campaign donations from special interests who stand to profit. The real estate, mortgage, and homebuilding industries are among the most powerful in DC, unfortunately. Perhaps this is why our govt allowed this industry to take out the economy and is now entertaining these same folks in senate and house committee meetings, etc, instead of investigating more of them for wrongdoing. Lawmakers 'came up with' the idea the same way they 'come up with' all their ideas–by industry lobbying and generous campaign donations from special interests who stand to profit. The real estate, mortgage, and homebuilding industries are among the most powerful in DC, unfortunately. Perhaps this is why our govt allowed this industry to take out the economy and is now entertaining these same folks in senate and house committee meetings, etc, instead of investigating more of them for wrongdoing.

]]> By: Kermit http://washingtonindependent.com/46449/housing-market-madness-a-new-push-for-a-bigger-homebuyer-tax-credit/comment-page-1#comment-33312 Kermit Thu, 11 Jun 2009 13:07:46 +0000 http://washingtonindependent.com/?p=46449#comment-33312 The right kind of credit is a credit to all owner-occupied households within 500 feet of a house in foreclosure. The amount of the credit should be measured monthly so that the longer a house sits in foreclosure the more credit is delivered to neighbors who suffer the economic loss and the diminished quality of life that foreclosure visits on neighbors. The recipients would be able to maintain their homes better and would be less likely to abandon the neighborhood if their economic and insecurity were recognized and there was a reward for remaining a vital part of the neighborhood. That is a tax credit aimed directly at neighborhood stabalization. The right kind of credit is a credit to all owner-occupied households within 500 feet of a house in foreclosure. The amount of the credit should be measured monthly so that the longer a house sits in foreclosure the more credit is delivered to neighbors who suffer the economic loss and the diminished quality of life that foreclosure visits on neighbors. The recipients would be able to maintain their homes better and would be less likely to abandon the neighborhood if their economic and insecurity were recognized and there was a reward for remaining a vital part of the neighborhood. That is a tax credit aimed directly at neighborhood stabalization.

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