The Economic Week In Review
Economic Bail Out For All BUT Taxpayers
The economic week in review had a bailout for all BUT the American taxpayer. We are the lucky ones who get to foot the bill for others to enjoy. Someone needs to wake up and remember it’s us taxpayers paying for all the waste, corruption, fraud, and government malfeasance. The proverbial well will run dry very quickly.
Remember this? “Tonight, I propose a new tax cut for homeownership that says to every middle-income working family in this country, if you sell your home, you will not have to pay a capital gains tax on it ever — not ever.” Those were Bill Clinton’s words at the 1996 Democratic convention. Along with the other socialist Democratic laws and threats to lenders for not making subprime loans, that helped cause the mortgage / housing collapse of 2008. In 1997 Congress passed a law eliminating any tax on home sales.
By itself, the change in the tax law did not cause the housing bubble, economists say. Several other factors, a relaxation of lending standards, a failure by regulators to intervene, a sharp decline in interest rates and a collective belief that house prices could never fall played a large part in the crisis.
Many economists say that the law had a noticeable impact, allowing home sales to become tax-free windfalls. A recent study of the provision by an economist at the Federal Reserve suggests that the number of homes sold was almost 17 percent higher over the last decade than it would have been without the law. Vernon L. Smith, a Nobel laureate and economics professor at George Mason University, has said the tax law change was responsible for “fueling the mother of all housing bubbles.”
Who was at the helm? A Democrat president. Naturally, nothing was said until a month after the election. Once again the socialist press was hiding the truth from the American citizens. There were some articles on the internet, we at SpeakNowAmerica for one, tried to explain this economic crisis was caused by socialist Democrats.
The economic bail out for all but the taxpayers began this week with President elect Obama and the socialist Congressional Democrats proposing a $850 billion stimulus package. Then more details emerged about how the Securities and Exchange Commission failed to investigate a massive fraud, and then ended with the White House coming to the rescue with an emergency bailout plan for the automakers.
Enough with the bail outs!! Bail out the American taxpayer. The productive people who work hard need the bail out. Give the taxpayers a TAX HOLIDAY. NO taxes for 3 to 6 months. That is what will fuel the economy NOT socialist Democratic works programs.
America don’t let the socialist behavior of President Elect Barack Hussein Obama and the socialist Democrats destroy America. Join SpeakNowAmerica.org today! We are ready to defend our rights and tell the truth the socialist press won’t tell you. Join us America to protect your rights, your country, and your money. Comment here and email us at YourVoice@speaknowamerica.org. Help us and be part of bringing our Great country back.
Speak Now America! we want to hear from you.
The economic week in review had a bailout for all BUT the American taxpayer. We are the lucky ones who get to foot the bill for others to enjoy. Someone needs to wake up and remember it’s us taxpayers paying for all the waste, corruption, fraud, and government malfeasance. The proverbial well will run dry very quickly.
Remember this? “Tonight, I propose a new tax cut for homeownership that says to every middle-income working family in this country, if you sell your home, you will not have to pay a capital gains tax on it ever — not ever.” Those were Bill Clinton’s words at the 1996 Democratic convention. Along with the other socialist Democratic laws and threats to lenders for not making subprime loans, that helped cause the mortgage / housing collapse of 2008. In 1997 Congress passed a law eliminating any tax on home sales.
By itself, the change in the tax law did not cause the housing bubble, economists say. Several other factors, a relaxation of lending standards, a failure by regulators to intervene, a sharp decline in interest rates and a collective belief that house prices could never fall played a large part in the crisis.
Many economists say that the law had a noticeable impact, allowing home sales to become tax-free windfalls. A recent study of the provision by an economist at the Federal Reserve suggests that the number of homes sold was almost 17 percent higher over the last decade than it would have been without the law. Vernon L. Smith, a Nobel laureate and economics professor at George Mason University, has said the tax law change was responsible for “fueling the mother of all housing bubbles.”
Who was at the helm? A Democrat president. Naturally, nothing was said until a month after the election. Once again the socialist press was hiding the truth from the American citizens. There were some articles on the internet, we at SpeakNowAmerica for one, tried to explain this economic crisis was caused by socialist Democrats.
The economic bail out for all but the taxpayers began this week with President elect Obama and the socialist Congressional Democrats proposing a $850 billion stimulus package. Then more details emerged about how the Securities and Exchange Commission failed to investigate a massive fraud, and then ended with the White House coming to the rescue with an emergency bailout plan for the automakers.
Enough with the bail outs!! Bail out the American taxpayer. The productive people who work hard need the bail out. Give the taxpayers a TAX HOLIDAY. NO taxes for 3 to 6 months. That is what will fuel the economy NOT socialist Democratic works programs.
America don’t let the socialist behavior of President Elect Barack Hussein Obama and the socialist Democrats destroy America. Join SpeakNowAmerica.org today! We are ready to defend our rights and tell the truth the socialist press won’t tell you. Join us America to protect your rights, your country, and your money. Comment here and email us at YourVoice@speaknowamerica.org. Help us and be part of bringing our Great country back.
Speak Now America! we want to hear from you.
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