Posted on 05/09/2009 6:58:01 AM PDT by Joiseydude
President Obama's assertion to homeowners that refinancing their mortgage loans now with interest rates at a near-record low equates to a tax cut isn't that cut and dried, according to tax analysts.
Obama said at his third press conference last month that the housing plan his administration has launched has "already contributed to a spike in the number of homeowners who are refinancing their mortgages, which is the equivalent of another tax cut."
But tax analysts told FOXNews.com that lower mortgage rates actually reduces tax savings.
(Excerpt) Read more at foxnews.com ...
To the average ignorant Obama voter this will make perfect sense.
To those of us who work for a living, pay for a mortgage, and understand how tax deductions work, it’s another example of either his complete ignorance of how real people’s lives are lived or his indifference to us.
Another Marie Antoinette moment.
>>Another Marie Antoinette moment.<<
Seems like Rush and Ann are our Robispierre and Madam LaFarge, in a good sense. The Monica Lewinsky Media and Congress are the nobility begging for their heads to be taken.
He is such a jerk.
Why didnt FDR end the depression by just getting everyone to refinance?
d’oh.
Refinancing costs money upfront and dilutes equity- assuming you have any. Not to mention needing a secure job to qualify. Yeah at 9-10% (acknowledged) unemployment, let’s just push repackaging your debt.
Ann is no Madame Defarge.
Perhaps Pelosi or Michelle ma belle
Obama knows NOTHING repeat NOTHING about finance at any level.He is being pushed along because he truly hates capitalism and is convinced that this road will lead to its destruction. In this he is correct.
>>Ann is no Madame Defarge.<<
That was a rhetorical comparison, as in screaming for LIBs heads.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.