Originally posted by Krypton
Anyone seen this, about the stimulus. How viable is this?
it's called kickbacks! it's all an unfortunate part of the game. Depending on who is dolling out the money it could either be a pretty big factor or a relatively small factor. This was huge in the Dubya white house with one contractor bids for friendly companies. kickbacks aren't always direct monetary compensation, but many times favors and future employment. like that.
zookeeper
quote:
Originally posted by jerZ07002
The property tax on my property is $12,000 a year!!!!!!!
WOW:eyes:
I hope it's a mansion, I'm at $7,800 a year for 2300sq.ft. and a couple of acres, I thought I had it bad.
I think that escrow should not be done for taxes (I don't do escrow) If everyone has to go down to the tax collector and write a huge check every year, the Libertarian Party would grow overnight! Or at least people (like us) would participate in the system, instead of being asleep for the past 10 years.
Lebezniatnikov
quote:
Originally posted by zookeeper
Or at least people (like us) would participate in the system, instead of being asleep for the past 10 years.
There's a very strong link in academic literature between taxation and the formation of national identity and civic engagement. If you look at a place like Africa where tax code is mostly non-existent and unevenly enforced where it does exist, you can see that no taxes means no rooted identity, no civic participation, and no accountability of the state for public service delivery. Indirect sources of income promote corruption. So I agree - I think everyone should have to write a big old check every year.
jerZ07002
quote:
Originally posted by zookeeper
WOW:eyes:
I hope it's a mansion,
Nope - just a modest city dwelling.
quote:
Originally posted by zookeeper
I'm at $7,800 a year for 2300sq.ft. and a couple of acres, I thought I had it bad.
I think that escrow should not be done for taxes (I don't do escrow) If everyone has to go down to the tax collector and write a huge check every year, the Libertarian Party would grow overnight! Or at least people (like us) would participate in the system, instead of being asleep for the past 10 years.
the problem is that lenders aren't willing to risk you NOT paying taxes. Since property taxes take first priority, the banks claim against property (i.e., the mortgage) could be impaired if a property owner fails to pay taxes and the city or county has to foreclose.
Shakka
All the rage today. Rick has been saying this for months, but today he got a lot of attention.
Krypton
quote:
Originally posted by Shakka
All the rage today. Rick has been saying this for months, but today he got a lot of attention.
:wtf:
I think he's right though. If you can't afford the mortgage, then you should foreclose. It's not the bank's fault you are defaulting.
jerZ07002
quote:
Originally posted by Shakka
All the rage today. Rick has been saying this for months, but today he got a lot of attention.
i absolutely HATE this foreclosure bailout plan!!! at the very least, the homeowners receiving the bailout should be required to hold onto the property until there is enough equity in the house, then they should be required to pay the government back, even if it means selling the property.
fyi - i don't know the terms of the plan, i'm just against any plan that rewards poor behavior.
Capitalizt
since the title of this thread is about the debt, I thought I'd post an update:
Originally posted by jerZ07002
i absolutely HATE this foreclosure bailout plan!!! at the very least, the homeowners receiving the bailout should be required to hold onto the property until there is enough equity in the house, then they should be required to pay the government back, even if it means selling the property.
fyi - i don't know the terms of the plan, i'm just against any plan that rewards poor behavior.
I agree. At least with the other bailouts, taxpayers capture the upside. They get preferred dividends (plus share value increases) from Wells Fargo, but the people with Wells Fargo mortgages get a handout for buying homes at the wrong time.
Meanwhile, I've been renting for 6 years, trying to pay off loans and save to eventually put down money for a home. And some of that savings has been wiped out by the falling markets. Where's my portfolio bailout for buying energy companies at the height of the bubble? They lost more percentage-wise than someone's house?
Groundhog Boy
quote:
Originally posted by Shakka
All the rage today. Rick has been saying this for months, but today he got a lot of attention.
Later in the day, similar, but with more focus on helping younger people that could help GDP down the road
