Thursday, September 17, 2009

Sen. Isakson (R-Homebuilders) Is Crazy

This poor bozo is convinced that Gummint will Save Us All!

Republican, my ass. Accurately, Isakson is a Statist, just like AutoClub GWB and ObamaHealth.

Senator John Isakson (R. Ga.) knows how to sell real estate. For twenty years he built up Northside Realty outside of Atlanta. His company is one of the largest independent RE brokerages in the country. With that much experience he knows full well that when you provide 95% LTV loans and a tax rebate that allows the buyer to put up net-net zero money down on a home purchase you can move real estate again. The Senator is pushing hard to extend the existing first time home buyer program. He wants to dramatically expand the scope (and cost) of the program as well.

It's even worse when you read his webpage....

" legislation would increase the maximum amount of the credit from $8,000 to $15,000 and expand the current tax credit so that it applies to any buyer of any home, not just first-time buyers. My legislation also would eliminate the income caps of $75,000 for an individual and $150,000 for a couple under the current tax credit so that there is no income limit for eligibility. Finally, the legislation would extend the tax credit for one year from date of enactment and would still allow home buyers to claim the credit on their 2009 tax return for purchases made in 2010.”


1 comment:

neomom said...

Oh good god -

We are going to have to throw out all the incumbent "R"s too aren't we?