Is the Stimulus Plan just a way for Congress to pay back their donors? I'm not sure, but I'm watching.
To satisfy the "tax cut" side of things, I propose that individuals be allowed to buy mortgages in forclosure, write off the cost of "paying down" to meet market prices and take 1/2 of the income tax free for the life of the loan. This would allow private money to be invested in the root of our national financial crisis, strengthen home ownership, & divert investment to tangibles.
The spending plan should slow down and contain more things that pass a reality check. There is nothing that says that congress can't pass more legislation, but lets not burden this promising new administration with items that will haunt them as time goes by. Some of the funding may have merit in other contexts, but will it produce jobs, improve national infrastructure or education?
Wednesday, January 28, 2009
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