Obama's tax cut for 95% of Americans
Find a Conversation
Obama's tax cut for 95% of Americans
| Mon, 10-13-2008 - 11:24am |
I know it is endlessly brought up how Obama is going to cut taxes for 95% of working families.
| Mon, 10-13-2008 - 11:24am |
I know it is endlessly brought up how Obama is going to cut taxes for 95% of working families.
Pages
I thought that was McCain's plan too.
I don't want anyone hurt, but this whole mortgage bailout frustrates me to high heaven. People need to get over it.
Artificially propping up home prices won't help create wealth for more people. It won't help more people get into these homes. Homes in many areas are overvalued. Period. Until the local demand increases, and people can afford to buy property with traditional loans, prices will continue to fall.
Bailing out people who bought too much house doesn't make much sense. Unfreezing the credit markets should do the trick. Strongly encouraging banks to renegotiate/refinance loans , based on the purchase price of the home, makes sense. But cherry-picking who gets saved when so many have lost already, and so many lose each year due to awful life changes (death of a spouse, illness, jobloss), just seems so unpalatably inequitable.
>>Unfreezing the credit markets should do the trick.<<
Indeed, what is your plan for doing so?
<> <>
So please explain to me how raising taxes on employers is going to decrease unemployment and lower the cost of goods and services for consumers.
Was I supposed to have plan? Did I come to the discussion unprepared?
<>
from my understanding, the wealthiest employers will be taxed more and some of those taxes will be given to the large middle class. now that the middle class has some spending money in their pockets, they will spend it. so money comes back to the employers as profits.
Sorry, it just seemed a little "duh" to me.
I'm in CA too. And we make a great income and can't afford a home. We hit the job market at the beginning of this wave and were never able to keep up. We could have taken a risky loan and crossed our fingers, but we always knew that it was a game of hot potato.
Homes aren't supposed to increase 25% a year. Tract homes aren't supposed to put a local family into debt for $500k for the value of the home alone. People make a community, not speculators. The world tuned upside down during the housing boom. Homes became commodities, pieces of paper, and risk wasn't just leveraged, it was INSURED.
I can't believe that trying to recreate the last 8 years will make things better. Bringing speculators back into the market and preventing families from being able to afford a home in their neighborhood won't make things better.
WITH THAT SAID
I do think that they need to offer lenders more tax incentives to renegotiate underwater mortgages. Buying up the bad debt and rengotiating the loans, that's all part of the plan, right? But a direct bailout? C'mon. The end of the ARMs will be here soon. That will help. It will.
<<>>
Sounds like a good deal to me! Why should people work harder just to get taxed more? It's like being punished for working. Punished for having a college degree.
<>
Not to mention money spent on education provides the employers with an educated workforce,
I disagree with you, but I'm pretty sure
Pages