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Old 02-05-2009, 04:45 PM
 
Location: West, Southwest, East & Northeast
3,446 posts, read 6,450,299 times
Reputation: 867

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Quote:
Originally Posted by sh9730 View Post
Well, not too muddy the waters anymore etc - BUT, Neil Cavuto says he talked to Sen Jackson who is privately admitting that this may NOT get into the final bill since some democrats (who I woulda thought would LOVE this sort of thing) dont want it because it is not immediately stimulative.

So...who the heck knows!??
Personally I think the bill should be altered and backdated to April 2008, doing away with the current $7,500 tax credit for just first-time home buyers, which must be paid back. The $15,000 tax credit is an excellent way to get houses selling and also a "fairly quick" way to get some stimulus money into the economy from new home buyers buying furniture, etc. for their new home.

The way it stands now (I assume), anyone buying a house in (for example) May 2009 must wait until they file their 2009 tax return in the Spring of 2010 before they can claim their $15K tax credit. Maybe the Fed will allow home buyers to file quarterly (that don't already do so) and recover all or a portion of this tax credit sooner. I dunno... There must be some way to get this "stimulus" money in the hands of home buyers quickly...instead of waiting until Spring of 2010 when their 2009 tax refunds are sent out.
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Old 02-05-2009, 05:07 PM
 
50 posts, read 183,860 times
Reputation: 45
Quote:
Originally Posted by ufcrules1 View Post
Neil Cavuto doesn't know squat. He needs to read up on treadmills so he can get himself in shape. Anyway, this bill will pass and will be retro active to Jan. 1st 09. If you don't believe me then watch when the bill passes.

i called the senators office and they said its not retroactive to jan 1st.
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Old 02-05-2009, 06:05 PM
 
3,576 posts, read 5,903,599 times
Reputation: 1431
Quote:
Originally Posted by pleasesaythe4th View Post
i called the senators office and they said its not retroactive to jan 1st.
Just remember this still needs to go back to the House and they will try to add/subtract things to this bill.

It's just plain stupid of Congress in general not to make it retroactive to at least Jan 1st 2009. If they do not plan to make it retroactive and as long as this bill is still being actively discussed in Congress, no one "on the fence" will make an offer on home.

This bill needs to either be killed altogether or passed. Congress cannot delay making decisions on the 15K tax credit for much longer. There will be a "deep freeze" in an already frozen real estate market as long as potential home buyer feel they can get this tax credit.
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Old 02-05-2009, 06:28 PM
 
14,807 posts, read 18,805,928 times
Reputation: 11772
Quote:
Originally Posted by sh9730 View Post
... may NOT get into the final bill since some democrats (who I woulda thought would LOVE this sort of thing) dont want it because it is not immediately stimulative.
It's funny that you say that,
because republicans hate "Wealth redistribution" and they are gonna give me $15,000 for the house that I'm in the process of buying and I'd be surprised if I pay more than $1000 in federal taxes in 1 year.

Who's money am I getting? who knows, but thanks republicans
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Old 02-05-2009, 06:56 PM
 
3,576 posts, read 5,903,599 times
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Quote:
Originally Posted by Dopo View Post
It's funny that you say that,
because republicans hate "Wealth redistribution" and they are gonna give me $15,000 for the house that I'm in the process of buying and I'd be surprised if I pay more than $1000 in federal taxes in 1 year.

Who's money am I getting? who knows, but thanks republicans
That's the principal differences between Republicans/Democrats. Republicans encourage tax cuts. Republicans encourage people to work hard and reward those who are successful. That's what frees up money so the extra money sitting around will hopefully get spent and stimulate the economy. That 15K extra in tax credits will encourage people to replace the kitchen/replace the carpets in the house. It's going to trickle down and help everyone

Democrats want to socailize too many programs (and keep on spending even if these programs are unsucessful) Democrats want to "give a little" to 95% of the population. President Obama's $500-1000 tax credit amounts to about a $15-20 savings per paycheck to "most average" Americans. I can tell you that saving $40-50 bucks a month will do squat to stimulate this economy.
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Old 02-05-2009, 07:36 PM
 
Location: Denver, CO
3,846 posts, read 6,600,443 times
Reputation: 1639
I hope it extends past this year!! I can't buy a house by July!! but later in the year or early next is my goal.
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Old 02-05-2009, 08:00 PM
 
14,807 posts, read 18,805,928 times
Reputation: 11772
Quote:
Originally Posted by aneftp View Post
That's what frees up money so the extra money sitting around will hopefully get spent and stimulate the economy. That 15K extra in tax credits will encourage people to replace the kitchen/replace the carpets in the house. It's going to trickle down and help everyone
I'm buying a new house, so there's no need to replace anything for several years.
I'm not in desperate need for money, that's why I'm buying a house (I can easily throw all that money in the bank).

(1) There's zero guarantee that the people that get 15k won't just put it in savings
(2) Offering 15k for people to go and buy houses could create a new group of people that buy a house when they can't afford it.
(3) What happened to the "Don't redistribute wealth" slogan of republicans that now want to give away 15k checks to people that don't really need it?
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Old 02-05-2009, 08:05 PM
 
Location: Cedar City, Utah
4,285 posts, read 8,057,622 times
Reputation: 1691
I have been out of town actually buying a home so haven't really listened to the news as no t.v. in the home we just bought. So this might be a dumb question but are there any specifics on this 15,000 credit. Too late for me, but my brother is looking to buy a first home
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Old 02-05-2009, 08:05 PM
 
Location: Ocean County, NJ
228 posts, read 1,007,779 times
Reputation: 110
Quote:
Originally Posted by Dopo View Post
I'm buying a new house, so there's no need to replace anything for several years.
I'm not in desperate need for money, that's why I'm buying a house (I can easily throw all that money in the bank).

(1) There's zero guarantee that the people that get 15k won't just put it in savings
(2) Offering 15k for people to go and buy houses could create a new group of people that buy a house when they can't afford it.
(3) What happened to the "Don't redistribute wealth" slogan of republicans that now want to give away 15k checks to people that don't really need it?
You'd be better off throwing that money into your mortgage to pay down your principle.
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Old 02-06-2009, 07:53 AM
 
2 posts, read 3,382 times
Reputation: 12
Default Email Senators

Just talking about making this retro to Jan 2008 is useless. We need to email our Senators people. I have and you should too. This would be a huge economic boom. I currently get the 7500 credit and that is going in the bank in case the economy gets worse. If it was upped to 15000, I guarantee you that atleast half would go directly into the economy. EMAIL YOUR SENATORS AND TELL 10 PEOPLE TO TELL 10 PEOPLE TO DO SO!!!!!!
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