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Whitman's $10,000 Tax Credit for Home Purchases


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2010 Mar 25, 8:26am   3,099 views  5 comments

by MarkInSF   ➕follow (0)   💰tip   ignore  

So, I was checking out Meg Whitmans policy agenda, and ran across this:

Provide a $10,000 Tax Credit for Home Purchases

To encourage homeownership and lessen the economic damage of last year’s mortgage crisis, Meg will provide a $10,000 tax credit to the buyers of new and existing homes. This will boost California’s real estate industry and improve the values of existing homes.

Ah, great! Yet MORE taxpayer subsidies for housing. What's next when that's not enough to keep home values afloat? A $20K credit? 50% subsidy?

(http://www.megwhitman.com/userfiles/pdfs/policy_agenda.pdf)

#housing

Comments 1 - 5 of 5        Search these comments

1   michaelsch   2010 Mar 26, 6:42am  

Hey, once on heavy drags one needs ever increasing doses.

2   michaelsch   2010 Mar 26, 6:46am  

Until the inevitable overdose. Looks like we are very close to it.

3   pinnacle   2010 Mar 26, 7:03am  

Since the constitution requires "equal treatment" under the law I would like to know when somebody is going to roll out a 10,000 dollar tax credit for renters. After all landlords need a bailout just as much as
everyone else and lots of people are being forced into renting even after getting a so-called loan modfication and defaulting again.
Also when do I get a bail-out of all the interest income I have been robbed of because of the need to
make more low interest loans to unemployed people so they can keep houses they can't possibly afford? Locking them into 40 year loans when they are living only on extended unemployment money seems a little nuts.
I've lost more than 10,000 dollars just in interest income which means I'm paying less taxes
just so somebody can keep their overpriced house. How does any of this help the economy?

4   thomas.wong1986   2010 Mar 26, 8:22am  

Since the constitution requires “equal treatment” under the law I would like to know when somebody is going to roll out a 10,000 dollar tax credit for renters.

About the same time they start giving your job out to someone else who came off a banana boat and needs a job.

5   bubblesitter   2010 Mar 26, 9:31am  

America's motto - Maintain the lifestyle(and euphoria) at taxpayer's cost, at any cost!

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