frayne
Thinks s/he gets paid by the post
Cash for clunkers and first time home buyer tax credit programs irk the crap out of me. Am I the only that feels like people who don't or can't take advantage of those programs are subsidizing those who can ? Maybe not a redistribution of wealth but sure as hell, a government give away under the guise of stimulating the economy. Where does this money come from anyway ?
Cash For Clunkers Showed Americans Will Buy If Given Incentives, Corker Tells Realtors
by Judy Frank
posted August 25, 2009
If the federal government's wildly successful recent Cash for Clunkers auto rebate program did nothing else, it showed that when Americans are given incentives to make purchases they will do so, Sen. Bob Corker said Tuesday morning in Chattanooga.
That's why he supports the federal program offering tax credits of up to $8,000 to qualified first-time homebuyers who purchase a principal residence between Jan. 1, 2009 and Dec. 1, 2009, he said during a talk to members of the local Realtors' Association.
The $8,000 tax credits have given the real estate industry a shot in the arm, he noted, much as the Cash for Clunkers program provided the beleaguered auto industry with much-needed sales and income.
"As a matter of fact, I had hoped that we would give a $15,000 tax credit for all home buyers," he told the realtors, who applauded the idea.
It's unclear whether the $15,000 credit will ever pass, Sen. Corker said, but at the very least he would like to see the $8,000 credit extended beyond Dec. 1, when it is due to expire.
The Chattanooga Republican said he believes there are signs that the economy is beginning to pull itself out of the recession in which it was mired, and that lines of credit are beginning to be extended to large commercial borrowers.
Cash For Clunkers Showed Americans Will Buy If Given Incentives, Corker Tells Realtors
by Judy Frank
posted August 25, 2009
If the federal government's wildly successful recent Cash for Clunkers auto rebate program did nothing else, it showed that when Americans are given incentives to make purchases they will do so, Sen. Bob Corker said Tuesday morning in Chattanooga.
That's why he supports the federal program offering tax credits of up to $8,000 to qualified first-time homebuyers who purchase a principal residence between Jan. 1, 2009 and Dec. 1, 2009, he said during a talk to members of the local Realtors' Association.
The $8,000 tax credits have given the real estate industry a shot in the arm, he noted, much as the Cash for Clunkers program provided the beleaguered auto industry with much-needed sales and income.
"As a matter of fact, I had hoped that we would give a $15,000 tax credit for all home buyers," he told the realtors, who applauded the idea.
It's unclear whether the $15,000 credit will ever pass, Sen. Corker said, but at the very least he would like to see the $8,000 credit extended beyond Dec. 1, when it is due to expire.
The Chattanooga Republican said he believes there are signs that the economy is beginning to pull itself out of the recession in which it was mired, and that lines of credit are beginning to be extended to large commercial borrowers.