Uncommon Sense: Neighborhood Recovery Act

[NeilTaxCon]

It boils down to -- we overheated the real estate market . We loaned to easily -- loaned too much -- and packaged those loans into derivities which were sold like ambien at an insomnia convention.

We taxed work and production 300% higher -- or more - than we taxed these derivities. We punished hard work -- we rewarded bullshit.

So now we have a load of bullshit.

If you think there is a quick fix to this you are nuts. Real estate has to fall another 30% at least. And it should

[stanklos]

Real Estate should be part of Portfolio income with stocks, bonds, commodities, dividends, The homeowner mortgage tax credit shoulde be limited to 80% of the initial purchase price to eliminate people borrowing for tax write offs. This will stabalize the markets in both equities and real estate. A simple fix that should have been implemented instead of the FED buying 1.3 trillion in toxic mortgages and another 1.7 trillion in federal aid.

[nitanice]

This makes so much sense why didn't they do it?