- Joined
- Nov 15, 2009
- Messages
- 13,156
- Reaction score
- 1,038
- Location
- melbourne florida
- Gender
- Male
- Political Leaning
- Very Conservative
Without exemptions, nobody can afford to pay taxes. Besides, politicians won't willingly do away with exemptions - it's a great way for them to exercise control through manipulation. Control is power, power is money... yadda yadda.IMO, a more effective means for leveling the taxation across the income "classes", would be to take away exemptions, rather than raising taxes on the income shown.
exemptions have been the "back door" means for many to avoid paying their share.
taxes should be applied to gross income, prior to any exemptions.
:lol: True enough.
Lets be nice, there are liberals who understand the consequences of such actions.
Looks like a move to keep Dems in office. Yes, let's delay the tax hikes till AFTER the election.
That is a separate issue, not the same as keep tax rates the same.
Raising taxes has a more significant effect on the market than extending unemployment benefits.
IMO, a more effective means for leveling the taxation across the income "classes", would be to take away exemptions, rather than raising taxes on the income shown.
exemptions have been the "back door" means for many to avoid paying their share.
taxes should be applied to gross income, prior to any exemptions.
Personal income may be shrinking to a minor degree but uncounted benefits have been increasing.
SCHIP, tax breaks, etc.
I don't buy it.
Here's a clue to everyone, do the things that rich people do.
Invest in stocks that pay dividends, so you can join the "elite."
Savy wallstreet predator loaners conned average Americans into thinking they could afford a loan for a house which they could not. When the banks adjusted their rates (something they didn't tell the homeowners about) Americans were forced to default on their loans, crashing the banks and causing the recession. If you don't know these facts then you don't understand the recession.
That's bs, it was known to the loan shopper that the rates were adjustable.
That's why they are called adjustable rate mortgages. They weren't forced by anyone but themselves.
Irrational exuberance and their personal excessive spending caused their purchase to go into default.
Savy wallstreet predator loaners conned average Americans into thinking they could afford a loan for a house which they could not. When the banks adjusted their rates (something they didn't tell the homeowners about) Americans were forced to default on their loans, crashing the banks and causing the recession. If you don't know these facts then you don't understand the recession.
Best to treat them like used car salesmen. I've known a lot of the people you're describing. I'm sure some of them were as savvy as you make them out to be, but most i've known were as clueless as those they sold the loan to - high school educated and heard about the job from a friend of a friend.Loan Officers gain the trust of their clients. It's the only way they'll get the loan. They had thousands of incentives to talk their clients into ARM's....so they can go back to them in three years and get another re-finance out of them for more thousands. The lenders themselves disincentived 30-year-fixed loans, many of them by penalizing their loan officers $$ for selling them. What kind of sense does that make?
Best to treat them like used car salesmen. I've known a lot of the people you're describing. I'm sure some of them were as savvy as you make them out to be, but most i've known were as clueless as those they sold the loan to - high school educated and heard about the job from a friend of a friend.
In our little area, these people were easily pulling six figures on commission - one girl I knew was making about 400k. Many bought fancy houses on stated loans that - like the jobs that made it possible - are long gone. I know only one person still in the business. Others are scraping by on 40k salaries hoping for the next big thing to come along.
I will say that lack of regulation on loan officers themselves caused a great deal of this mess. I'm a Realtor. Loan Officers make a larger commission on their loans than a Realtor makes selling a house. And the consumer has no idea. And their commission, unlike a Realtor's, is invisible.
Loan Officers gain the trust of their clients. It's the only way they'll get the loan. They had thousands of incentives to talk their clients into ARM's....so they can go back to them in three years and get another re-finance out of them for more thousands. The lenders themselves disincentived 30-year-fixed loans, many of them by penalizing their loan officers $$ for selling them. What kind of sense does that make?
Here we are with the lowest mortgage rate in YEARS AND YEARS and loan officers stilldon't want to sell 30-year-fixed mortgages. They don't make any money on them.
Oh!! And how did the loan officers talk a client who already had a mortgage into refinancing so the LO can make another $5K? They say, "Hey, you can save a little on your monthly payment. Oh, and by the way, do you want any cash out?" The magic words that led the housing market to debacle.
The industry was corrupt. It's less corrupt now.
Honestly I think it's a narrative of why we don't need a "ownership society." If people can't bother to research the subject before spending thousands of dollars for a home, they shouldn't own one.
If a stupid lender wants to lend a stupid person a stupid amount of money, I'm all for it - just don't force me to pay for their stupidity.Honestly I think it's a narrative of why we don't need a "ownership society."
If people can't bother to research the subject before spending thousands of dollars for a home, they shouldn't own one.
I think you're absolutely 100% right!! Even when I tried to educate my clients and stop them from taking these onerous loans, the glitter was just too bright.
Homeownership is not for everyone. And it certainly isn't a right.
If a stupid lender wants to lend a stupid person a stupid amount of money, I'm all for it - just don't force me to pay for their stupidity.
Your post seemed to have gotten cut off. I fixed it for you.
Taylor said:If a stupid lender wants to lend a stupid person a stupid amount of money, I'm all for it - just don't force me to pay for their stupidity.
Let's face it - people want all of the freedom to act stupid, but none of the culpability. Having your cake and eating it too. No wonder we're an obese nation.
Canceling unemployment extensions in a recession is stupid. Especially on the horizon of a double dip.
What's stupid is people needing more then two years to get a job.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?