Monday, April 18, 2011
Alot of people seem to believe that we need more government to make things more fair. With a few exceptions I think this is complete b.s.. One example of government unfairness I have seen a lot of is the so called first time homebuyer tax credit. There are really two versions of this credit, the 2008 credit and the 2009 credit. The 2008 credit gave the home buyer an interest free loan of $7500 which would be repaid over 15 years via their tax returns. The 2009 credit gave home buyers $8000 which did not have to be paid back. It was just money in their pockets. So to recap on this little bit of government fairness; 1) if you buy a home in 2007 you are a sucker got nothing, 2) if you buy a home in 2008 you get $7500 interest free to be paid back over 15 years, 3) if you buy a house in 2009 you get $8000 free and clear. I don't know about you but it would take me a long time to save $8000. So, how is this fair?