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ITT a poster tells us why home owners are ruining America

  • CMXI will be along shortly to do what lawyers do. Gonig will CEO by to play dumb, and Grand Slam will call us all delusional.

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    USMCAG

  • USMCAG said...

    CMXI will be along shortly to do what lawyers do. Gonig will CEO by to play dumb, and Grand Slam will call us all delusional.

    popcorn

    This post was edited by WillieMuffcramp on 2/1/2013 at 8:46 AM

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    Here I sit broken hearted, had to fart but then i sharted.

    WillieMuffcramp

  • WillieMuffcramp said...

    popcorn

    Wish I had some popcorn, but I gotta pay the mortgage so it can wait.

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    "Nobody makes me bleed my own blood, nobody!"

    Red Goodman

  • Red Goodman said...

    Wait....now owning your own home is a bad thing? I'm confused on exactly where this argument is going.

    Why does owning a home entitle you to FREE MONEY?

    Where you alive during the housing bubble? Can you think of a reason why a tax incentive to purchase a home may have contributed to the housing bubble? Does free money not increase the overall prices of homes by artificially increasing demand?

    It is one of the hundreds of examples of "ENTITLEMENTS' that go to the Middle class. These "ENTITLEMENTS" never get brought up in these "government is bad" political threads.

    The mortgage deduction tax credit which costs the US government over $100 billion a year.

    $100 billion in tax credits > $75 billion in foodstamps.

    Do the math.

    A TAX CREDIT IS A HANDOUT!

    A Tax credit is a SUBSIDY, A food stamp is a SUBSIDY. It has the same effect on the government balance sheet.

    Deductions that have been added into the tax code cost the US government $1.1 trillion annually. That easily covers the deficit without
    even looking at spending (yes we must cut spending drastically too).

    But instead of complaining about the $1.1 trillion in tax credit HANDOUTS that mostly go to the Middle class, everyone acts like a $75 billion Foodstamp program created the deficit.

    rms02d

  • I can't buy a mansion with the housing credit but I can buy lobster and filet's with food stamps. Maybe if they had TV stamps the people on food stamps wouldn't steal mine. coffee

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    Here I sit broken hearted, had to fart but then i sharted.

    WillieMuffcramp

  • WillieMuffcramp said...

    I can't buy a mansion with the housing credit but I can buy lobster and filet's with food stamps. Maybe if they had TV stamps the people on food stamps wouldn't steal mine. coffee

    Again, the housing deduction is one of dozens of examples of things that cost the US government more than food stamps.

    It was just an example, I pay a mortgage too but you guys are missing the point.

    We should eliminate all the deductions and lower the overall tax rate. That is the fairest way to go.

    CBO | Tax Expenditures Have a Major Impact on the Federal Budget

    Do you receive a tax deduction for the interest paid on your mortgage or for the taxes you pay to your state and local governments? Would you think about those deductions in the same way if instead of seeing a reduction in taxes for those items the federal government instead simply sent you a check for the same amount?

    www.cbo.gov

    rms02d

  • Ironically, the home mortgage interest deduction likely creates the perverse effect of discouraging homeownership by artificially raising home values. Economic intuition suggests, and empirical studies have supported, that the deduction does not provide much in the way of savings at all since the value of the deduction is simply capitalized into the value of home prices. The artificially higher house prices prevent would-be home owners on the margins of affordability from purchasing a home within their price range. This effect, combined with the low rates of deduction claims and concentration of benefits to high-income earners, likely contributes to the inefficacy of the home mortgage interest deduction to boost homeownership to the degree that its proponents envisioned.

    The Home Mortgage Interest Deduction: A Bad Deal for Taxpayers

    A new policy brief released by the Mercatus Center and co-authored by Jeremy Horpedahl and Harrison Searles analyzes one of the most popular—and therefore one of the most difficult to reform—subsidies in the tax code: the home mortgage interest deduction.

    neighborhoodeffects.mercatus.org

    rms02d

  • rms thinks being lazy entitles people to free handouts. She thinks if you work hard then you should have to support the lazies.

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    USMCAG

  • USMCAG said...

    rms thinks being lazy entitles people to free handouts. She thinks if you work hard then you should have to support the lazies.

    Most of the people on foodstamps work. Quit trolling, and I don't give a shit about foodstamps either way. Its just funny that "foodstamps are bad, but free stuff for me is good because I EARNED it" Everyone has this mindset and thats why we can't fix the deficit.

    From an economic standpoint the "negative externality" effects of the mortgage deduction may be more harmful to society than "externality" effects of foodstamps.

    What happened to the Free Market?

    Why is it okay for the Federal Government and that Got Damn Obama to artificially inflate home prices with subsidies?

    You do realize that the price of your house is correlated to the savings from the income deduction right? You pay more for your home because of this subsidy.

    If the subsidy indirectly increases housing prices, then why is it a good thing?

    rms02d

  • I hate everyone that 30% of my check supports, outside of the military, police, etc along those lines.

    JB23BAMA

  • USMCAG said...

    CMXI will be along shortly to do what lawyers do. Gonig will CEO by to play dumb, and Grand Slam will call us all delusional.

    roflmao It's so adorable how you've convinced yourself that you've got it all figured out.

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    CMXI

  • rms02d said...

    Most of the people on foodstamps work. Quit trolling, and I don't give a shit about foodstamps either way. Its just funny that "foodstamps are bad, but free stuff for me is good because I EARNED it" Everyone has this mindset and thats why we can't fix the deficit.

    From an economic standpoint the "negative externality" effects of the mortgage deduction may be more harmful to society than "externality" effects of foodstamps.

    What happened to the Free Market?

    Why is it okay for the Federal Government and that Got Damn Obama to artificially inflate home prices with subsidies?

    You do realize that the price of your house is correlated to the savings from the income deduction right? You pay more for your home because of this subsidy.

    If the subsidy indirectly increases housing prices, then why is it a good thing?

    Meh, mine is of minimum effect because of benefits I receive. People need to pay attention to that stuff before they just sign and agree to it. Personal response senility comes into play.

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    USMCAG

  • rms02d said...

    Most of the people on foodstamps work.

    Huh? Where do you live?

    justinboze

  • justinboze said...

    Huh? Where do you live?

    I wondered the same. Where I live they roll up to the stores in their fancy cars and all have iPhones.

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    USMCAG

  • USMCAG said...

    I wondered the same. Where I live they roll up to the stores in their fancy cars and all have iPhones.

    Are you sure because I got called out as being completely FOS when I said this exact same thing last week here. I was also told for ever one person who abuses it there is a thousand that don't. I had no fkn clue they did research on such things. Those dems are smart as FUK YO. Get this, the guy who called me out said he bagged groceries in a store for quite some time and not one foodstamper bought lobsters or used an iPhone. Clearly makes him a fkn expert no?

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    "Nobody makes me bleed my own blood, nobody!"

    Red Goodman

  • USMCAG said...

    I wondered the same. Where I live they roll up to the stores in their fancy cars and all have iPhones.

    With the topic of the article being pretty cut and dry (website for immigrants to gain knowledge about getting on gov't programs) I didn't expect much response from the Democrat community. There is not much that they can spin into their agenda unless they truly believe that immigrants should be given handouts upon arrival.

    justinboze

  • Red Goodman said...

    Are you sure because I got called out as being completely FOS when I said this exact same thing last week here. I was also told for ever one person who abuses it there is a thousand that don't. I had no fkn clue they did research on such things. Those dems are smart as FUK YO. Get this, the guy who called me out said he bagged groceries in a store for quite some time and not one foodstamper bought lobsters or used an iPhone. Clearly makes him a fkn expert no?

    Or a liar lol

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    USMCAG

  • Blanket statement used to incite the masses. OP of OP got his wish.

    WRobins

  • I guess all of us that have a distrust or suspision of the government are just tin foil hat crazies, right?

    Poll: Most Americans Feel Threatened By Government - US News and World Report

    For the first time, a national survey finds most Americans feel threatened by government.

    mobile.usnews.com
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    USMCAG

  • I've known people my whole life that relied on food stamps to get by. Some actually needed them to be able to afford food, while some didn't. Some were good people and some were not. However, the thing they all had in common was that none of them worked.

    justinboze

  • justinboze said...

    Huh? Where do you live?

    He lives wherever is convenient for the argument. I hear what he's saying but in the same breath he's insinuating that hard workers need to keep their head down, their mouth shut, and don't so much as think about where all your money is going. Leave that to deh smirt purples to decide. Oh and rewards or kickbacks for your hard work? Umm no those arent allowed and if you take any you're a pile of shit for doing so. But wait what about the "needy"? They get handouts no? Uh yeah but only cause they're honest and we believe them when they tell us stuff!!!

    Sorry got carried away. I'll probably get taxed for it.

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    "Nobody makes me bleed my own blood, nobody!"

    Red Goodman

  • USMCAG said...

    I guess all of us that have a distrust or suspision of the government are just tin foil hat crazies, right?

    I suppose it's just a coincidence that the followers of the party not in power have a much, much greater percentage of government distrust than anyone else. shrug

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    CMXI

  • CMXI said...

    I suppose it's just a coincidence that the followers of the party not in power have a much, much greater percentage of government distrust than anyone else. shrug

    Spin it how you want lawyer, the majority of Americans don't trust the government, and for good reason.

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    USMCAG

  • USMCAG said...

    Spin it how you want lawyer, the majority of Americans don't trust the government, and for good reason.

    You do realize that many have different reasons, right? You might be afraid that the government is going to take your guns, someone else might be afraid that the government is going to take away their right to free speech, someone else might be afraid that the government is going to take away their right to make choices over their own body.

    When you phrase the question to ask if the federal government "threatens your personal rights and freedoms," then of course you'll get every single person with any possible gripe against any aspect of the government coming out in force. Hell, even I'd answer yes, because I believe many Republican politicians proposing anti-abortion laws are threatening personal rights and freedoms. To me, it's surprising that the number isn't higher.

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    CMXI

  • CMXI said...

    I suppose it's just a coincidence that the followers of the party not in power have a much, much greater percentage of government distrust than anyone else. shrug

    Negative ghostrider, I made fun of Bush all the time. I am a fair and just hater.

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    "Nobody makes me bleed my own blood, nobody!"

    Red Goodman