Right Rev[elation]

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Conservatism mixed with a little end time theology

$8,000 Home Credit Set to Expire in November

This one is tough.

It’s a little more complicated than the Cash for Clunkers program.

I really have to be honest with myself and ask, “Would I have loved to get that $8,000 for buying my first home?”

Yes.

And, no.

It’s really a toss up.  There’s the argument that the younger generation will have to pay interest on that debt.  The cost of the program has now topped $11 billion (chump change when compared to the $1.4 trillion budget deficit for this year).

Some say that those who have received this money should have a percantage of their home owned by the people.  It was, after all, other peoples’ money that was given away to those who were going to buy a home anyway.

Am I upset because I didn’t get the deal or because it really is a bad deal?

A CPA friend of mine put it this way: The government needs to stop using the tax code to provide incentives to people.  The tax code is there for revenue; it’s not there to give people a reason to buy a new car or a new home.

You could call it a bribe.  That might be stretching the definition of ‘bribe’ a little, but it does seem to fit.

Use the tax code for revenue.  It’s really that simple.

Then, I wouldn’t have to wrestle with feelings of jealousy over friends that waited 1 year to buy a home and got a steal of a deal PLUS $8,000 from the government. 😉

Hey, it treats everyone equal, right?  Isn’t that what liberals want anyway? 🙂

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Filed under: Media/News

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