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Old 02-07-2009, 04:12 AM
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Default $15,000 Homebuyers Tax Credit

Looks interesting, it's wise to hold the cash until now.



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The home buyer tax credit will work like this. All taxpayers who buy a home in 2009 will get up to 10% of the purchase price back in a tax credit up to $15,000 (on a $150,000 home). This tax credit will also be extended to buyers who have bought a home in the 12 months leading up to the stimulus bill passing. For example, if the bill were to pass on February 10th all home purchases after February 10th 2008 would get the credit.
2009 Economic Stimulus Package: $15,000 Homebuyers Tax Credit
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Old 02-07-2009, 12:51 PM
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As good as this sounds, it seems sort of ass-backwards to me.... I thought this whole thing was to help the people who are losing their homes due to forclosures... Wouldnt it make more sense to give the tax break to those of us who are struggling to keep our homes??? Ok, I admit this year (thanks to the help of CP), Im not struggling to keep my home, but there was a couple of years, that I sweated over forclosure and the whole headache of keeping a house that I couldnt afford... Getting a tax break to help with much needed repairs would be awesome!!!
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Old 02-08-2009, 06:41 AM
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Kinda sounds like an invitation to the real estate salesmen to jack the price up about 10%...or more. That's usually the way people think in this country...greed is what put us where we are today.
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Old 02-08-2009, 08:47 AM
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Many families lost their homes last year, they first lost their jobs, then lost their homes, right? I was curious to know what options they had to keep on living? It's gonna be very hard if they have children.
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Old 02-08-2009, 02:02 PM
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You are right Kevin, alot of folks have lost jobs and homes... and for those with children, it can be devastating... But this new tax credit will only convince folks to buy houses when things are so unstable... this doesnt sound like good logic to me... It just seems like the government is telling us to buy buy buy and to heck with the consequences....In my opinion, buying a house now when jobs are so unstable seems foolish... If the government is going to help, I would think they would help the ones who are struggleing to keep their homes, and not convince folks to get into more deep water!
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Old 02-09-2009, 10:26 PM
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The problem with the stimulus bill is that it is stimulating all the wrong people. Much of the money is going the politicianís pet projects.

345 million for new Agriculture Dept. computers.
1 billion to deal with census problems.
88 million to help move the Public Health Service into a new building.
870 million to combat the flu.
400 million to slow the spread of HIV.
40 million to change the way health statistics are collected.

These maybe worth while but what do they have to do with simulating the economy?

Then when Obama suggests the CEOís of these failing banks should limit their salaries to $500,000 a year we hear howls of anguish. I mean seriously how do you expect a CEO who has failed in managing his bank to live on only $500,000 a year?

In some ways it would be better to just let these banks fail and then pick up the pieces and more on.
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Old 02-10-2009, 05:02 AM
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M.S.,

That looks like a big pork barrel for the medical fat cats....$1,398,000,000.00 of that list goes to health issues. Another $1 billion goes to "census problems"...that probably has something to do with reducing the population so we can save money on hiring all those census takers. Do you know how many computers $345 million will buy???!!! How many does the Agricultural Dept. need? I don't know about you, but the subject of slowing the spread HIV and combatting the flu is getting pretty stale. I know HIV is a serious problem, but do you thing they'll actually try to find a cure?

nightowl

P.S. Maybe we could open our own bank and put that money away so we could live off the interest ourselves.
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