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I just read an article about the tax cut extension that didn't make it through the house. . . it said

"If congress doesn't act:


160 million Americans will see a payroll tax hike averaging $1,000 for each taxpayer.

2.5 million jobless workers will lose unemployment benefits.

Doctors serving Medicare patients will face a 27.4 percent drop in federal reimbursements."


But what they left out is that if they "do act" (which they already acted, they just acted in a way contrary to the way that that writer wanted them to) that they were gonna pay the 32 billion dollar price tag to give 160 million $1000 tax breaks, 2.5 million jobless benefits claims, and pay doctors who are working with medicare. They were going to collect 32 billion in FEES FROM PEOPLE WHO ARE BUYING HOUSES! They were not going to charge those fees to the banks lending money to people buying houses and making near %100 of what they lent over the course of a 30 yr loan. They were gonna take the money to pay unemployment benefits out of the pockets of people who are employed and buying houses!


Call your congressman, vote out the incumbent. This is ridiculous.

James Loftis
RealEstate911.com - West Palm Beach, FL

This is one of the reasons that the congress has such a low approval rating from the american public.

Dec 21, 2011 03:59 AM
Curtis Van Carter
Better Homes & Gardens Wine Country Group - Yountville, CA
Your Napa Valley Broker Extraordinaire


Couldn't agree with you more. One thing I want to point out, if you pay a mortgage for 30 years the interest a bank gates at 4% is = 140% and at 5.875% which my mortgage is at, is = 210%! cheers cvc

Dec 21, 2011 04:39 AM
Nate Baldwin
American Fork, UT

That's true Curtis. . . I always try and be very conservative in my estimates when I'm being accusatory.

I read a while back that most people who are stuck in homes that equity and cant refinance were up near the 6% range. (and p.s. I currently have a no ltv/no appraisal requiremee product for VA refinances if you know anyone that would benefit from it.)


Point being; between what they are making on deals and the 7.7 tillion in secret bailout money - I think the banks should front the bill for the tax cuts if the Senate really wants it to go through.

Dec 21, 2011 04:59 AM