Home Builders: Homebuyer Tax Credit Key to Economic Recovery

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why is there an assumption that housing will, or even "should" come back?
It was a bubble. It's "coming back" when Nasdaq 5000 comes back. It is insane to try to reblow the bubble with incentives.
How about handing out some money to those who will be renters for the rest of their lives because even with this incentive they can't afford to buy?
How about handing out some money to those who will be driving clunkers for the rest of their lives, because even with the Cash for Clunkers they couldn't afford to buy a new car?
Can anyone else see this for the type of random handout that passes for economic policy? You really need to be a banker or in the right place at the right time for another kind of handout these days.

hmp49 of NC 3:04PM August 31, 2009

Why would any entrepreneur or business person take a risk if the top tax rate is 70%. That would be a prescription for economic disaster

Patrick of OH 4:39PM August 28, 2009

that an industry spokesman would like an extension of a government program that funnels public money to a specific industry.
You're going to soon hear somebody who sells autos asking for a renewal of "cash for clunkers" too.
Maybe these things are needed short term, but, at best they are bandaids. The two things that are needed long term are
1) Single payer health care, including tort reform, to reduce the cost "tax" levied on individuals and businesses by our current "system", and
2) Restoration of very high income tax rates on very high incomes. (Think 70% or more on personal incomes (including capital gains) over $10 million a year.)
If we had had these all along, you would have elimintated the incentives on Wall Street which created the tech stock bubble/scam of 1999, the residential real estate bubble/scam of 2006, and the oil futures bubble/scam ($4 gas) of 2008. You would also avoid having "cap-and-trade" become the next bubble/scam---and merely save the atmosphere without luring sharks who will eat your lunch by the billions. Unfortunately, the existence of lotteries in America may make restoration of a high tax bracket politically impossible---AND IT'S A SHAME WE ARE SO WOEFULLY DUMB.

Muser of NM 1:48PM August 28, 2009