Biden got me on this...
"...and reduce the principal amount owed on mortgages...so that the
homeowner can afford to stay in their home..."
That's interesting.
So say you $300k on your home and decide that you can't afford it any
longer and let it ride into foreclosure (or threat of). What's the plan?
Ok ok, you only $150,000 instead of the 3 you signed for and lets
reduce the interest payment from seven to say...how about 3%? Good now
hat money you saved can be used to be out back into the economy or to
buy yourself some steaks or hey, why not a boat or a car you might not
be able to afford?
So why not eliminate eveyone's interest due on credit cards or their
balances as well or how about limiting the interest rates banks can
charge on lates on credit cards. Read the fine print - f-up and you
can be around 29% or more...
Why not just eliminate income taxes for a couple years - except the
"rich". I love that line. Tax the rich more becasue they are the
devil. Does the average joe american pay a "mansion tax"...
"Rich" has to be adjusted for inflation.
Here's another way the average joe can save a few $ (check with your
accountant) - go into business.
any small business. Report your ALL your income and ALL your expenses.
If your self employed your health benefits I believe are now 100%
dedcutible..a portion of your car payment, phones, internet etc etc
even a portion of your meals - anything that relates to business...
So looky today...now Wells Fargo likes Wachovia. Should of listened to
rumors. So my Citi looked good yesterday, looks like shit today.
That's the free market working. Put something up for sale and get the
word out.
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