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1 posted on 03/10/2009 9:02:44 AM PDT by jazusamo
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To: jazusamo

Truth #1: Liberalism, in essence, is simply the use of force to make the innocent and the responsible pay for the consequences of the irresponsible choices of others.

Truth #2: Liberals support no freedoms except those related to sexual behavior.


2 posted on 03/10/2009 9:05:57 AM PDT by MrB (The 0bamanation: Marxism, Infanticide, Appeasement, Depression, Thuggery, and Censorship)
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To: abigail2; Alia; Amalie; American Quilter; arthurus; awelliott; Bahbah; bamahead; Battle Axe; ...
*PING*
Thomas Sowell

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Please FReepmail me if you would like to be added to, or removed from, the Thomas Sowell ping list…

3 posted on 03/10/2009 9:07:48 AM PDT by jazusamo (But there really is no free lunch, except in the world of political rhetoric,.: Thomas Sowell)
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To: jazusamo

Will someone PLEASE hook up a hotline directly from Obambi’s office to Sowell’s??


4 posted on 03/10/2009 9:15:10 AM PDT by Mr. K (physically unable to proofreed (<---oops))
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To: jazusamo

Affordable housing produced by market forces provides no benefit to politicians and has no attraction for them.

Precisely.

I expect the politicians to say “It’s not about the power” in the same way that other people say “It’s not about the money”.


7 posted on 03/10/2009 9:19:43 AM PDT by George Smiley (They're not drinking the Kool-Aid any more. They're eating it straight out of the packet.)
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To: jazusamo
What is new is the current notion of indulging people who refused to save for a rainy day or to live within their means.

Ant/Grasshopper. Old story. Same outcome.

9 posted on 03/10/2009 9:32:41 AM PDT by Bloody Sam Roberts (Despite all my rage, I am still just a rat in a cage...)
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To: jazusamo
the government cannot eliminate sadness. What it can do is transfer that sadness from those who made risky and unwise decisions to the taxpayers who had nothing to do with their decisions.

What is sad is that even if big gov did stay out of the business of rescuing the irresponsible and allowing housing prices to become more affordable, BIG GOVERNMENT has created a situation where YOU CAN'T AFFORD TO LIVE IN ONE ANYMORE because taxes and energy costa are through the roof!

TWO straight months of $300 plus for electricity at my house that cost half that for power only 3 years ago. Cap and Trade Brack!

11 posted on 03/10/2009 9:33:07 AM PDT by subterfuge (BUILD MORE NUCLEAR POWER PLANTS NOW!!!)
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To: jazusamo

Excellent!


12 posted on 03/10/2009 9:38:31 AM PDT by Finop (Never argue with an idiot. They drag you down to their level and then beat you with experience.)
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To: jazusamo

Another home run from Thomas.....

I am so pizzed about the bailout of people who deliberately got in over their heads, and lied about their loan qualifications—along with the Feds pushing NINJA loans—that I can hardly see straight.

Hard telling what I might do if I find out someone near me gets such a bailout.


13 posted on 03/10/2009 9:48:46 AM PDT by ridesthemiles
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To: jazusamo

“The one person toward whom there is no compassion is the taxpayer.”

And we have ALL had more than enough of this cr@p!


17 posted on 03/10/2009 10:05:46 AM PDT by Diana in Wisconsin (Save The Earth. It's The Only Planet With Chocolate.)
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To: jazusamo

There are a couple of topics never referred to in the columns and daily squawks from the ‘media’.

Houses that are in foreclosure are now in the hands of the banks.
Part 1: Since almost every city-county-parish entity has a grace period of as much as 5 years with UNPAID property taxes before the taxing entity takes over—who is paying the property taxes on these foreclosed homes?

I contend that the taxes are NOT getting paid. If I were the main bookkeeper for a bank- I would tell them to suspend property tax payments until they can sell the property to a new buyer. The new buyer picks up the past due taxes, and the bank has not depleted it’s assets in keeping the property taxes up to date. If the house doesn’t sell before the grace period time’s up, then pay ONE year and get another year of grace time, etc.
This action causes the coffers of the taxing entities to be similarly depleted, and then all the entitlement programs that the Feds-state-county, etc have in place cannot be fulfilled.
Kalifornia has had overpriced property for many years. Totally “pumped up”—to quote a term the Governator likes to use— and that higher price causes higher and higher taxes.
Another glitch: All home prices needed by the seller include the 5-6-7-8 % commission that the real estate agents/brokers get in the sales transaction.
Take an $800,000 house. That draws a $48,000 commission total at 6%. Kalifornia property taxes are calculated on Prop 13, and that is 1% of the base price, plus local bonds. It averages to about 1.25% of the sale price.
$48,000 of commission also carries that 1.25% of property tax. Isn’t that wonderful? So $600 of the first year’s tax bill is a tax being paid on the commissions that the agents drew for the sale/buy efforts. Dirty little secret, eh? Then that tax can be raised 2% a year forward. Doesn’t take all that long to add another $100 to the tax bill, etc.
NObama wants to eliminate realestate interest and dramatically lower charitable contributions deductions. What is he planning regarding the property taxes?
IF NObama gets real estate interest eliminated, then in effect, that interest will be double taxed:
The bank reposrts that interest as income—which it is to the bank. They pay taxes on that money.
If you or I cannot deduct our real estate interest, then we will effectively be paying income tax on that same money...hence, that interest is DOUBLE TAXED. Is that legal?
What incentive is there for a person to try and buy a home? The age-old ratio for buying a home was that your payment could not exceed 31% of your income.
Since that calculation was based upon always having the interest as a deduction, is that ratio calculation now wrong? It is being used in this massive attempt at getting more people to buy the foreclosed homes. If that interest deduction is dropped, does the 31% ratio still hold as valid?
I think it is another piece of smoke and mirrors from the NObama administration. None of them seem to be very good at math- even the Treasury Sec-Geithner- is known to not be good at math, and does NOT like math. Great choice for someone to be Treasuty Sec, eh?
Part 2: If the banks are not paying the taxes on foreclosed properties, are they paying the insurance? I know for a fact that in Wisconsin, the home insurance companies will not insure an empty house- unless you are in the process of remodeling or something. But if the house is just ‘vacant’ , the insurance does not pay for any damages.
What is the status of these thousands of foreclosed homes?
Uninsured?
Property taxes not being paid?

I think all of the above is happening..
Anyone got info?


18 posted on 03/10/2009 10:07:10 AM PDT by ridesthemiles
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To: jazusamo

Just another great article from Mr. Sowell.


21 posted on 03/10/2009 10:11:24 AM PDT by <1/1,000,000th%
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To: jazusamo
Sowell: The one person toward whom there is no compassion is the taxpayer.

Yes!

Time to dust off that sentiment the leftists love to use. Taxpayers should carry signs reading:

No justice
No peace

23 posted on 03/10/2009 10:25:15 AM PDT by syriacus (BHO is NOT open to research that contradicts his ill-conceived economic ideology.)
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To: jazusamo

“Affordable housing produced by market forces provides no benefit to politicians and has no attraction for them. “

money quote


25 posted on 03/10/2009 11:01:31 AM PDT by fnord (There's a reason we don't often hear about a Michelob deal gone bad.)
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To: jazusamo

It is so nice to read the clear explanation of the current debacle. So, when will black Americans and liberal white Americans start listening to such common sense? ... Answer, they never will, it doesn’t sit well with what the democrap party ahs been selling/feeding to them for lo these several deacades.


27 posted on 03/10/2009 11:15:07 AM PDT by MHGinTN (Believing they cannot be deceived, they cannot be convinced when they are deceived.)
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To: jazusamo

Bump for later reading!


29 posted on 03/10/2009 11:22:01 AM PDT by SuziQ
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To: jazusamo

Figured I’d end the evening with a little Sowell searching ...

>> Even in an era of much-ballyhooed “change,” the government cannot eliminate sadness.

Anything that offsets natural consequence is indebted to reality. Eventually the real world will demand payment. It may not be called in our time, but most definitely for the children we leave behind.


35 posted on 03/14/2009 1:02:52 AM PDT by Gene Eric
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