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President Obama has grabbed what the real estate industry considers the third rail of tax reform: mortgage-interest deductions. Among the many tax increases on the affluent laid out in his budget proposal Thursday was a plan to reduce the itemized deduction…
Subsidizing Bad Ideas What are some of the things wrong with the president’s plan to solve the mortgage crisis? Howie Rich of Americans For Limited Government explains: “First, the plan is emblematic of America’s new “dependence mentality,” which is advanced by politicians like Obama who rhetorically extol the virtues that once made this country great while they systematically remove brick-by-brick the incentives needed to make it great once again. Second, it’s more of the same smoke-and-mirror
Cathy Young writes (emphasis hers): Lately, there has been a lot of discussion of the moral aspect of anti-crisis measures that, in effect, allow people to get away with bad or at least irresponsible behavior — specifically, bailing out homeowners who took out mortage loans they couldn’t realistically afford. [...] There is, however, an alternative to letting the foolish and reckless go under — taking a few of the wise and responsible down with them — or forcing other, more responsible peo
Obviously, President Obama has a lot on his plate: two wars, an ailing economy, the mortgage crisis and more. But that doesn’t relieve him of the obligation to serve up his plan for immigration reform.
This week immediately after signing the death knell “stimulus” spending package in Denver, Mr. Obama made an overnight stop in my former state of Arizona, the state I left now almost two years ago after being one of the early victims of the housing and mortgage crisis….
