Thursday, February 5, 2009

$15,000 housing credit

Too bad it is too hard to multiply. The $15,000 tax credit (or 10% of the value whichever is lower) that has been added to the stimulus bill is purported to cost 19 billion. Wrong. Multiply 15 thousand by the expected 5 million houses that are expected to be sold anyway this year and you get 75 billion. Think about the additional houses that would be bought and sold just to get the credit and you might double this to 150 billion! Great way to reinflate the stupid housing bubble.


Pooks said...

I have an idea, how about they pay for healthcare. Then I'll have 600 extra dollars a month. Businesses will have extra money to pay employees and reinvest.

Richard said...

This is because the deranged morons, I mean distinguished gentle people, in Washington actually believe that we can continue our energy hungry expansion of urban sprawl.

They have not yet realized that what we have been doing for the past 50 years is no longer sustainable and that we need to dump the idea of everyone having a car ,a house next to a strip mall and a 40 mile commute by themselves in their shiny metal boxes.

The traditional 'American Dream' is dead. It is not coming back.

Of course, having said that, I will NEVER be elected to congress.

Goodnight and Good Luck!

Mimi said...

I think you need to run. You would be way better than that stuffed dead thing that is your current congressperson. When religious questions come up you can just introduce Jasmine.