Smart Political Move

[rayboyusmc]

He just picked up their votes, and they can keep their homes for another three months under this proposal. Let them sort out this plan when the next adminstration is in place and isn't hampered by a blame duck administration.

Will McCain say that he was about propose this?

TOLEDO, Ohio - Democrat Barack Obama is calling for a 90-day moratorium on foreclosures and a two-year tax break for businesses that create jobs as part of a plan to heal the nation's ailing economy.

The presidential candidate says banks that participate in the federal bailout should temporarily postpone foreclosures for families making good-faith efforts to pay their mortgage.
He also called for a $3,000 tax credit for each additional full-time job a business creates. The tax break would end after 2010.

Doesn't sound like socialism babble.

Obama offers new proposals to help economy - Yahoo! News

 

[DavidS]

A full tax break? As in, this business pays NO taxes??

That doesn't make any sense.

 

[MalibuMan]

With all his tax breaks how the hell is he going to pay for all his other shit. I have know idea how one continues to spend more than they make. That goes for republicans too.

Makes me sick.

 

[Navy1960]

He just picked up their votes, and they can keep their homes for another three months under this proposal. Let them sort out this plan when the next adminstration is in place and isn't hampered by a blame duck administration.

Will McCain say that he was about propose this?



Doesn't sound like socialism babble.

Obama offers new proposals to help economy - Yahoo! News

I like the 90 Day Moratorium idea ray however, it does nothing but prolong whats comming unless there is a plan to help these home owners refinance those homes. One thing I would like to see is someone address the number homes that sit empty that effects overall property values in general. It seems to me that this money for this bailout, would have been better spent on doing something about all these distressed properties that have caused the values of homes to plumet. Further, IMO, I do think that the gov't completely lost sight on who they were there to serve, and a plan to buyback toxic paper in the hopes that credit will free up is like going to Vegas and betting on blackjack.

 

[rayboyusmc]

I like the 90 Day Moratorium idea ray however, it does nothing but prolong whats comming unless there is a plan to help these home owners refinance those homes.

I agree. It has been proposed by someone that we settle this at the county level. Appoint a county judge to look at each situation and if possible come up with a plan that let's them pay off the loan at a long term fixed rate. It would be better if I now have a 35 year mortgage and can continue to pay than an ARM and have to lose the home and the lender loses the income.

We, the taxpayers don't get stuck, and the the lenders who hold the mortgages start getting some cash infusion.

Just foreclosing and putting up for sale to speculators is bullshit in my opinion.