Re: 10 Reasons to Whack Obama's Stimulus Plan

Guest Tue Feb 10, 2009 4:03 pm

IrishGuy wrote:What is everyone's thoughts on a 10% tax credit up to a total of $15,000 for anyone who buys a house as a primary residence in 2009?

Personally, this is going to make my house be on the market this April instead of April 2010. I have been interested in getting a bigger place, and this is what is going to make me get out the paint buckets finally. If this credit can be combined with a sub 5.00% interest rate then there is no way I can pass this up. I don't know if this thing will be good for a large number of people. What I mean by that is that many have lost their jobs or are hurting badly with their jobs. From what I understand, this credit has stipulations including down payment requirements and amount of income requirements.

I heard this discussed and I don't think they'll give this out except for 1st time home buyers.

I still think the best idea I've heard for the TARP program was to give that money in the form of tax credits to the lender for refinancing mortgages so they were performing. 10-15% of the primary mortgage amount plus a lock at 5% annual interest on the refinanced amount. This would have the effect of directly flowing cash to the lending institutions while simultaneously lowering the homeowners monthly payments.

Guest Tue Feb 10, 2009 4:23 pm

LTRT wrote:
Vis wrote:While interesting... I'm not following the point you're making with the article linked.

Maybe I should've 'fact check' it out first, but you know the lame argument from the left about Katrina being Bush's fault, (forget that they were told to get evacuate 4-5 days ahead of time). The slow response (forget about the Mayor not using the school buses), etc, etc, etc.

Aside from all of this, it's just plain stupidity on that city to not strengthen the levees prior to the devastion. Like we don't have the money, we have Mardi Gras to worry about.

The same goes for all the lost casinos and stuff lost along the Gulf Coast...yeh let's build along the coast in a hurricane prone area.

It's good, I was just curious how you were using the article to support the city that wouldn't listen claim. Just a point of clarification though: the levees are the federal government's responsibility... not the city or state's. Also, engineering reports have determined the levees failed mostly because of design flaws. Despite Senante testimony that the ACoE did not know of the flaws prior to 2005... they had released their own study in 1986 which found the potential for separation in the use of I wall designs.

Guest Tue Feb 10, 2009 4:27 pm

Vis wrote:
LTRT wrote:
Vis wrote:While interesting... I'm not following the point you're making with the article linked.

Maybe I should've 'fact check' it out first, but you know the lame argument from the left about Katrina being Bush's fault, (forget that they were told to get evacuate 4-5 days ahead of time). The slow response (forget about the Mayor not using the school buses), etc, etc, etc.

Aside from all of this, it's just plain stupidity on that city to not strengthen the levees prior to the devastion. Like we don't have the money, we have Mardi Gras to worry about.

The same goes for all the lost casinos and stuff lost along the Gulf Coast...yeh let's build along the coast in a hurricane prone area.

It's good, I was just curious how you were using the article to support the city that wouldn't listen claim. Just a point of clarification though: the levees are the federal government's responsibility... not the city or state's. Also, engineering reports have determined the levees failed mostly because of design flaws. Despite Senante testimony that the ACoE did not know of the flaws prior to 2005... they had released their own study in 1986 which found the potential for separation in the use of I wall designs.

Thanks Vis, this is the information that I remember hearing about the finger pointing after Katrina.

LTRT > tongue

LTRT Tue Feb 10, 2009 4:31 pm

meta4 wrote:
Vis wrote:
LTRT wrote:
Vis wrote:While interesting... I'm not following the point you're making with the article linked.

Maybe I should've 'fact check' it out first, but you know the lame argument from the left about Katrina being Bush's fault, (forget that they were told to get evacuate 4-5 days ahead of time). The slow response (forget about the Mayor not using the school buses), etc, etc, etc.

Aside from all of this, it's just plain stupidity on that city to not strengthen the levees prior to the devastion. Like we don't have the money, we have Mardi Gras to worry about.

The same goes for all the lost casinos and stuff lost along the Gulf Coast...yeh let's build along the coast in a hurricane prone area.

It's good, I was just curious how you were using the article to support the city that wouldn't listen claim. Just a point of clarification though: the levees are the federal government's responsibility... not the city or state's. Also, engineering reports have determined the levees failed mostly because of design flaws. Despite Senante testimony that the ACoE did not know of the flaws prior to 2005... they had released their own study in 1986 which found the potential for separation in the use of I wall designs.

Thanks Vis, this is the information that I remember hearing about the finger pointing after Katrina.

LTRT >

Yes, kuddos to Vis, I just didn't 'splain it correctly. Wink

(and search deep enough for the right info) Cool

Guest Tue Feb 10, 2009 4:54 pm

You did fine. Personally I think in many cases we can achieve more by examining a situation rather than looking for a party(person) to blame. Katrina provides an opportunity to examine a problem problem form many different aspects... some of which you initially pointed out. I didn't want to put words in your mouth which is why I asked for clarification.

**Mort** Wed Feb 11, 2009 10:09 am

IrishGuy wrote:What is everyone's thoughts on a 10% tax credit up to a total of $15,000 for anyone who buys a house as a primary residence in 2009?

Personally, this is going to make my house be on the market this April instead of April 2010. I have been interested in getting a bigger place, and this is what is going to make me get out the paint buckets finally. If this credit can be combined with a sub 5.00% interest rate then there is no way I can pass this up. I don't know if this thing will be good for a large number of people. What I mean by that is that many have lost their jobs or are hurting badly with their jobs. From what I understand, this credit has stipulations including down payment requirements and amount of income requirements.

Hey Irish can you give me a link to this ?

Guest Wed Feb 11, 2009 10:48 am

It isn't final yet Mort... depends on the final version that gets passed but it does look like there will be some credit... possibly up to 15,000 and it will be with fewer restrictions. Good incentive for people wanting to buy or sell in 2009.

IrishGuy Wed Feb 11, 2009 11:13 am

Mort wrote:

Hey Irish can you give me a link to this ?

http://realestate.msn.com/article.aspx?cp-documentid=17198334

chickety-check-it-out

The $15,000 passed the Senate version of the bill, but not the house. The latest rumors and readings on the net make it sound like this number will be decreased some. I would imagine it will end up being a credit of $7,500.

Right now, there is a credit for first time home buyers for $7,500, but this has to be paid back over 15 years ($500 per year) as part of your tax return. This one is basically an interest free loan from the government. It's a great deal, where else are you going to find an interest free loan with a 15 year payment plan? The new deal in the stimulus plan will be for any home buyer (not just first timers) and will be a true "credit", not a deduction and will not need to be paid back to the gov.

floridafun Wed Feb 11, 2009 11:15 am

most people technically qualify as first time home buyer even if they have owned several homes.

IrishGuy Wed Feb 11, 2009 11:18 am

floridafun wrote:most people technically qualify as first time home buyer even if they have owned several homes.

How so? What are the req's?

I guess I thought it was simple as if your name is or has ever been on a deed, you are no longer a first time home buyer.

floridafun Wed Feb 11, 2009 11:47 am

LTRT wrote:
floridafun wrote:
LTRT wrote:
floridafun wrote:

In theory, ACORN could compete for some home rebuilding money in stimulus plan.

Ahh, kinda like what the meaning of IS is...

more like
heck of a job brownie!
mission accomplished!
weapons of mass destruction in iraq
america DOES NOT use torture
I don't think anybody anticipated the breach of the levees--think new orleans/katrina

Wow, you love affair with Bush continues! Are you sure you don't moonlight for the Huffington Post?

I suppose if there's nothing to combat the substance of the bill, then why not bash the old administration, gee what happened to "I won." Let me see if I've talked about Clinton in this thread...nope, but we've come to realize that you can't respond without bashing Bush, Christians, the GOP, conservative radio, FOXNews, etc, etc, etc.

By the way, how's the power down in Kentucky, why is the boss out reading books to children and not helping restore power to those poor people in Kentucky.

uh..you didnt mention clinton by name..but when I use the "depends on what your definition if is is" i am referring to clinton stupidity. if thats not what you meant, my misunderstanding...

far as katrina, i was recalling stuff like noted here where nobody including his staff knew wth he got the info or numbers he used about the fed response, and his long delayed visit there and what he said at the time.

https://www.youtube.com/watch?v=uPOFx_yZFaM

https://www.youtube.com/watch?v=ZcsQQLFk7KA

and i am not anti-religion. however i am anti those ex-clusive religious groups and individuals that deems it necessary to deny equal rights to consenting adults regardless of their race or religion/non-religion or natural sexual/relationship inclinations, and deny a females right of choice, by legislating sin via a secular government.

Guest Wed Feb 11, 2009 12:06 pm

IrishGuy wrote:
floridafun wrote:most people technically qualify as first time home buyer even if they have owned several homes.

How so? What are the req's?

I guess I thought it was simple as if your name is or has ever been on a deed, you are no longer a first time home buyer.

That's what I thought too but it's not the case. I'll see if I can find some of the requirements.

Guest Wed Feb 11, 2009 12:14 pm

Taxpayers who owned a main home at any time during the three years prior to the date of purchase are not eligible for the credit. This means that first-time homebuyers and those who have not owned a home in the three years prior to a purchase can qualify for the credit.

That is from the IRS website regarding the 2008 $7,500 first time homebuyer credit. Each credit program differs... I remember years ago when I bought a house you could get the credit if you hadn't owned a home in your name in the previous 2 years and in some programs it's as short as a year. Every program is different and I'm pretty sure I used mine for a 3-2-1 interest rate buydown. It was a great way to ease into the payments and for the first three years my payments were lower than the rent I paid for a tiny apartment.

**Cincy Fan 44** Wed Feb 11, 2009 12:19 pm

floridafun wrote:and i am not anti-religion. however i am anti those ex-clusive religious groups and individuals that deems it necessary to deny equal rights to consenting adults regardless of their race or religion/non-religion or natural sexual/relationship inclinations, and deny a females right of choice, by legislating sin via a secular government.

That's fair. I'm anti-groups that are pro-baby murder, anti-God, anti-Reds, anti-Bengals, anti-THE OSU, and anti-left handed pencil sharpeners.

floridafun Wed Feb 11, 2009 4:17 pm

Cincy Fan 44 wrote:
floridafun wrote:and i am not anti-religion. however i am anti those ex-clusive religious groups and individuals that deems it necessary to deny equal rights to consenting adults regardless of their race or religion/non-religion or natural sexual/relationship inclinations, and deny a females right of choice, by legislating sin via a secular government.
That's fair. I'm anti-groups that are pro-baby murder, anti-God, anti-Reds, anti-Bengals, anti-THE OSU, and anti-left handed pencil sharpeners.

10 Reasons to Whack Obama's Stimulus Plan - Page 5 795451

LTRT Wed Feb 11, 2009 5:32 pm

http://change.gov/agenda/ethics_agenda/

End the Practice of Writing Legislation Behind Closed Doors: As president, Barack Obama will restore the American people's trust in their government by making government more open and transparent. Obama will work to reform congressional rules to require all legislative sessions, including committee mark-ups and conference committees, to be conducted in public. By making these practices public, the American people will be able to hold their leaders accountable for wasteful spending and lawmakers won't be able to slip favors for lobbyists into bills at the last minute.

Guest Wed Feb 11, 2009 6:29 pm

Working to accommodate the new, lower overall limit of the bill, negotiators effectively wiped out a Senate-passed provision for a new $15,000 tax credit to defray the cost of buying a home, these officials said. The agreement would allow taxpayers to deduct the sales tax paid on new car purchases, but not the interest on loans for the same vehicles.

bummer and a surprise... that's form a story on msn about the agreement reached

IrishGuy Thu Feb 12, 2009 9:45 am

Vis wrote:
Working to accommodate the new, lower overall limit of the bill, negotiators effectively wiped out a Senate-passed provision for a new $15,000 tax credit to defray the cost of buying a home, these officials said. The agreement would allow taxpayers to deduct the sales tax paid on new car purchases, but not the interest on loans for the same vehicles.

bummer and a surprise... that's form a story on msn about the agreement reached

It is a bummer. Looks like I'll stick around my little house for another year.

Guest Thu Feb 12, 2009 10:20 am

Well at least you don't have to paint yet. I doubt the issue will disappear and think it's going to be addressed sooner than later so don't put the brushes away just yet. From what I'm reading; the concern was over how to prevent paper title flips so my guess is that in some other bailout plan the credit is going to reappear soon. Some people argued that it didn't matter if people were paper flipping because it would affect the market and spur growth but I don't know that I agree. I kind of see the argument from both sides and see the theory of each but its the reality that troubles me. I believe the intent is to accomplish what you want to do and as soon as they figure out how to write the legislation to enable it, they will.

LTRT Fri Feb 13, 2009 12:40 pm

Dems Delay and Reformat E-Version of Bill So It Cannot Be Searched On Internet By Voters...
http://www.humanevents.com/article.php?id=30700

HURRY, FELLAS, LET'S VOTE, I AM OFF TO ROME!
Fri Feb 13 2009 09:18:52 ET

Rep. John Culberson, TX claims the "stimulus" bill must be urgently voted on today -- because Speaker Nancy Pelosi is leaving at 6:00 PM for an 8 day trip to Europe!

Culberson made the charge on Houston's KSEV radio.

Pelosi is hoping to lead a delegation to Europe; there's a meeting with the Pope and an award from an Italian legislative group.

Calls to Pelosi's spokesman went unreturned.

In the rushing, Democrats have now broken their promise to have the public see the $790 billion bill for 48 hours before any vote.

Sen. Frank Lautenberg (D-N.J.) predicted that none of his Senate colleagues would 'have the chance' to read the entire final version of the 1,071-page bill before it comes up for a final vote.

Developing...

10 Reasons to Whack Obama's Stimulus Plan - Page 5 839550

Guest Fri Feb 13, 2009 1:16 pm

I don't get it. That author is a liar. pdf files are searchable. Just use find... type the word and guess what it finds the word and even goes to the page and high-lites it. Then you hit next and it takes you to every time the word is used. The menu bar even tells you how many times the word is found on that page. Easy Peasy

LTRT Fri Feb 13, 2009 1:46 pm

Vis wrote:I don't get it. That author is a liar. pdf files are searchable. Just use find... type the word and guess what it finds the word and even goes to the page and high-lites it. Then you hit next and it takes you to every time the word is used. The menu bar even tells you how many times the word is found on that page. Easy Peasy

Generally speaking yes, but did you actually search on the bill itself?

Guest Fri Feb 13, 2009 2:00 pm

LTRT wrote:
Vis wrote:I don't get it. That author is a liar. pdf files are searchable. Just use find... type the word and guess what it finds the word and even goes to the page and high-lites it. Then you hit next and it takes you to every time the word is used. The menu bar even tells you how many times the word is found on that page. Easy Peasy

Generally speaking yes, but did you actually search on the bill itself?

yes of course I did. For instance I used "cobra' it took me to page 365 and high-lited the word.. the menu bar said the word appears 5 times on that page hit next and it goes to each time the word appears. If you manually go page to page it shows whether the word appears on that page. For example, I hit next page and the bar said the word 'cobra' appears 0 times on this page.

Are saying that you tried to search the bill and were unable to do so?

Guest Fri Feb 13, 2009 2:04 pm

Vis wrote:
LTRT wrote:
Vis wrote:I don't get it. That author is a liar. pdf files are searchable. Just use find... type the word and guess what it finds the word and even goes to the page and high-lites it. Then you hit next and it takes you to every time the word is used. The menu bar even tells you how many times the word is found on that page. Easy Peasy

Generally speaking yes, but did you actually search on the bill itself?
yes of course I did. For instance I used "cobra' it took me to page 365 and high-lited the word.. the menu bar said the word appears 5 times on that page hit next and it goes to each time the word appears. If you manually go page to page it shows whether the word appears on that page. For example, I hit next page and the bar said the word 'cobra' appears 0 times on this page.

Are saying that you tried to search the bill and were unable to do so?

I did the same with "Recovery_Bill_Div_A.PDF" and searched for "Technology"... worked on Linux and Windows Very Happy

That search took about 10 seconds Very Happy

LTRT Fri Feb 13, 2009 4:49 pm

http://www.eyeblast.tv/public/checker.aspx?v=ydnznzqG6U

Absolutely amazing cheers

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