Senate OKs $15,000 tax break for homebuyers

[240 is Back]

Good move.

WASHINGTON – The Senate voted Wednesday night to give a tax break of up to $15,000 to homebuyers in hopes of revitalizing the housing industry, a victory for Republicans eager to leave their mark on a mammoth economic stimulus bill at the heart of President Barack Obama's recovery plan.

The tax break was approved without dissent and came on a day in which Obama pushed back pointedly against Republican critics of the legislation even as he reached across party lines to consider a reduction in the spending it contains.

"Let's not make the perfect the enemy of the essential," Obama said as Senate Republicans stepped up their criticism of the bill's spending and pressed for additional tax cuts and relief for homeowners. He warned that failure to act quickly "will turn crisis into a catastrophe and guarantee a longer recession."

Democratic leaders have pledged to have legislation ready for Obama's signature by the end of next week.

[Soul Crusher]

This is pure nonsense. 

[MuscleMcMannus]

The government shouldn't even be worrying about the fucking housing market.  Let the chips fall where they may.  They should never have given any money to banks either. 

[Soul Crusher]

You seriously have morphed into a liberal shill.

[CQ]

Seems good to me, the housing market is a huge issue and aren't tax breaks alwasy positive for the average citizen?

[Saxon]

This is just a subsidy for home buyers and is unlikely to have any impact on house prices, due to the elasticity of supply in the housing market.  I would have thought they would have learned from  the mistakes of government interference in the housing market.

[BM OUT]

We just bought a house this year.I bet we get fucked over.

[Soul Crusher]

Seems good to me, the housing market is a huge issue and aren't tax breaks alwasy positive for the average citizen?

They are just going to fuel another bubble.   

This is really stupid. 

[CQ]

They are just going to fuel another bubble.   

This is really stupid. 

Not being inflammatory, but please explain why?

[I genuinelly don't know am asking]

[Hedgehog]

You seriously have morphed into a liberal shill.

Read the original post again.

This particular part of the stimulus was actually the brain child of the Republicans.

The Senate voted Wednesday night to give a tax break of up to $15,000 to homebuyers in hopes of revitalizing the housing industry, a victory for Republicans eager to leave their mark on a mammoth economic stimulus bill at the heart of President Barack Obama's recovery plan.

They are just going to fuel another bubble.   

This is really stupid. 

You still think it's stupid, now when you've learned that it is the Republicans who are behind this?

[Soul Crusher]

Read the original post again.

This particular part of the stimulus was actually the brain child of the Republicans.

The Senate voted Wednesday night to give a tax break of up to $15,000 to homebuyers in hopes of revitalizing the housing industry, a victory for Republicans eager to leave their mark on a mammoth economic stimulus bill at the heart of President Barack Obama's recovery plan.

You still think it's stupid, now when you've learned that it is the Republicans who are behind this?

Regardless of who proposes it, its dumb. 

It will cause people to buy things based on tax credits, not the fundamentals.

Housing was grossly inflated and helped cause this disaster. 

[240 is Back]

You seriously have morphed into a liberal shill.

1. Repubs wanted this.  I'm a lib shill because I agree with house republicans?

2.  we give billions in tax breaks to Exxon, which you're cool with.  You knock 15k off the price of a $160k house so middle class member Joe Blow can afford to buy, and suddenly it's marxism?

Dude, quit sucking corporate cock.  Seriously.  This isn't for welfare bums.  they won't be buying houses.  This is for middle class ppl.

[Soul Crusher]

15k in nothing.  That is closing costs in many states.

[240 is Back]

15k in nothing.  That is closing costs in many states.

Yet you still protest it?

In many cases, 15k can be 20% of the price of a house, and all the difference in whether or not the person buys.

[Bindare_Dundat]

Inflate,Inflate,Inflate,Inflate,Inflate,Inflate,Inflate,Inflate,Inflate,Inflate,Inflate,
Inflate,Inflate,Inflate,Inflate,Inflate,Inflate,Inflate.................................



POP!



Inflate,Inflate....

[Bindare_Dundat]

1. Repubs wanted this.  I'm a lib shill because I agree with house republicans?

2.  we give billions in tax breaks to Exxon, which you're cool with.  You knock 15k off the price of a $160k house so middle class member Joe Blow can afford to buy, and suddenly it's marxism?

Dude, quit sucking corporate cock.  Seriously.  This isn't for welfare bums.  they won't be buying houses.  This is for middle class ppl.

you still don't get it.

[Soul Crusher]

Yet you still protest it?

In many cases, 15k can be 20% of the price of a house, and all the difference in whether or not the person buys.

The taxpayers should not be funding other peoples' home purchases.