as a tax payer it is my business, incase you missed the memos America is going to **** and if the GOP are going to keep blocking ways to produce jobs that money is going to havfe to come from somewhere! Hell I dont mind paying more taxes if it is for the greater good!
They threatenend banks who would not set aside traditional underwriting requirements in making loans, i.e., those who did not loan to unqualified buyers.
The "ownership society" was a miserable, liberal failure at social engineering, and totally at the feet of the government.
Wrong. Do you not understand that honest wealthy people are struggling in this economy? The only people that have it made, are the one's that are too big to fail, and they can keep ****ing the rest of us over. We paid for their mistakes. We bailed them out to save our economy and jobs, and they are still ****ing us and living as comfortable as did before they destroyed our economy.
of course you don't. she needs to have her wealth confiscated so others can feel betterHer husband died, and she can't live the same lifestyle.. not even if she paid zero percent in taxes. Her husband could have left her more money, but he didn't... She has to "tighten her belt" and plan to live on a smaller budget. Of all the things that is sad in that situation, losing her husband and children losing their father, I don't feel that her financial situation is at tragic.
the people who claim that are rarely paying much of anything in taxes and rarely understand that taxing people more isn't for the greater good of anyone but the politicians who use that to pander to their voting bloc
Threatened banks with what? Fines, jail, ?
The Boston Fed still used the study to produce a manual for mortgage lenders that said: "discrimination may be observed when a lender’s underwriting policies contain arbitrary or outdated criteria that effectively disqualify many urban or lower–income minority applicants."
So what were some of the "outdated" criteria?
Credit History: Lack of credit history should not be seen as a negative factor.... In reviewing past credit problems, lenders should be willing to consider extenuating circumstances. For lower–income applicants in particular, unforeseen expenses can have a disproportionate effect on an otherwise positive credit record. In these instances, paying off past bad debts or establishing a regular repayment schedule with creditors may demonstrate a willingness and ability to resolve debts....
Down Payment and Closing Costs: Accumulating enough savings to cover the various costs associated with a mortgage loan is often a significant barrier to homeownership by lower-income applicants. Lenders may wish to allow gifts, grants, or loans from relatives, nonprofit organizations, or municipal agencies to cover part of these costs. . . .
Sources of Income: In addition to primary employment income, Fannie Mae and Freddie Mac will accept the following as valid income sources: overtime and part–time work, second jobs (including seasonal work), retirement and Social Security income, alimony, child support, Veterans Administration (VA) benefits, welfare payments, and unemployment benefits.
Accepting these new criteria was hardly voluntary. The Fed warned the banks:
"Did You Know? Failure to comply with the Equal Credit Opportunity Act or Regulation B can subject a financial institution to civil liability for actual and punitive damages in individual or class actions. Liability for punitive damages can be as much as $10,000 in individual actions and the lesser of $500,000 or 1 percent of the creditor’s net worth in class actions."
You're just scapegoating.
We pay for lots of people's mistakes, we have a social safety net and all sorts of other social programs.
Not hearing any gripes about those "bailouts."
Blaming one group of people is totally irrational and intellectually dishonest.
Want to know how the wealthy became wealthier?
Look at the stock market graph from the recession.
They bought low and got wealthier as it rose back up.
well of course your going to say that your rich!
rich is often a state of mind. If you concede you won't ever be rich you will never be.
but I have no duty to pay for your existence nor do I expect you to pay for mine
The Equal Credit Opportunity Act (ECOA) is a United States law (codified at 15 U.S.C. § 1691 et seq.), enacted in 1974, that makes it unlawful for any creditor to discriminate against any applicant, with respect to any aspect of a credit transaction, on the basis of race, color, religion, national origin, sex, marital status, or age (provided the applicant has the capacity to contract);[1]
Equal Credit Opportunity Act - Wikipedia, the free encyclopedia
That's not even relevant to discussing the housing crisis. It was also enacted in 1974, and the housing market has gone up and down many, many times since 1974.
I dont expect anyone to pay for my existence because I was raised in a good family and had a decent upbringing and had a good chance at life! Me and my wife work full-time and pay our taxes and save most of our money much like yourself. However it seems unlike you I was brought up a Christain and if my time in Iraq taught me anything it was that you need to help those less fourtunate than yourself. Not everyone is dealt a good hand and some hard working people get hit with some bad luck, they need our help to get back on their feet and get back to work and if raising taxes will help the poor by taking from the rich than im all for it! “It is easier for a camel to pass through the eye of a needle than for a rich man to enter the Kingdom of Heaven (Luke 18:25)”
I don't buy into biblical BS especially when people try to twist it to justify socialism
I also note that many leftwingers assume that only government coerced redistribution of wealth is charity when it is people like me who spend far more on real charity than rich liberals who normally give money to elect other socialists or to "think tanks" that advocate more socialism rather than to entities that Actually help the poor
keep your myths to yourself. supporting a socialist government isn't going to get you into heaven.
lol who said anything about socalism? You guys love to throw that word out to scare the masses away, some of us are not that naive! Alos let us not forget income tax for the rich was at his highest during Americas boom, funny that!
It's relevant. As with any legislation, agency rules enacted after the fact under its auspices can and do have effects.
Government crashed the housing market.
lol who said anything about socalism? You guys love to throw that word out to scare the masses away, some of us are not that naive! Alos let us not forget income tax for the rich was at his highest during Americas boom, funny that!
I will tell you how I do
I only spend about a tenth of what I make each year. (of course taxes take about 40% of what I make) but that still means half of my income is left over. So I invest it.
yeah I live on a nice 25 acre piece of property-when I bought it it was farm land going for about 5K an acre and now-well I am surrounded by subdivisions and one of my neighbors sold his 5 acres for 500K so you get the idea. But I also drive an 11 year old Lexus I bought used and its got 155K on it. I don't feel a need to buy a new car every year-in fact my last three cars have been used. I don't take expensive vacations-the last time I paid for a trip out of the country was my honeymoon 18 years or so ago. Neither of us drink and I rarely eat at expensive restaurants. I guess the one real luxury i have-other than sending my son to the best school I can find is belonging to a country club where I spend tons of time playing tennis and squash and coaching
but the bottom line is spending less than I make and investing for the LONG TERM
It's relevant. As with any legislation, agency rules enacted after the fact under its auspices can and do have effects.
Government crashed the housing market.
and warren buffet says the same about today "How many folks in that bracket are really paying 35%"
and warren buffet says the same about today "How many folks in that bracket are really paying 35%"
I run my house finances just like a business.
Cut costs, increase revenues, invest in income producing assets, keep some amount of liquidity and credit to float for unforeseen events(both good and bad).
and others think we should be taxed more for investing wisely and saving
The total effective tax rate for the top 1% is 29.5% in 2007.
Taxes go progressively lower for each bracket, as it goes down.
what years were those
the ones where America was the ONLY remaining superpower economically after the factories of Japan, Germany, France and England were bombed flat
btw that was the era of Jim Crow, no civil rights etc. Cause and effect tend to bitch slap such claims
America was rapidly becoming the world superpower before we had the new deal and confiscatory income tax rates as well
How the hell did America go from being a new kid on the bloc to the big dog without socialist income redistribution?
gee FREEDOM must have worked and we didn't need 50% taxes on the most productive people as we have now
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?