Tuesday, November 10, 2009

Call me Herzog

Dear Senator Kerry,

I am writing to express my disappointment at the extension of the homeowner tax credit and my hope that you will work to let the extension expire at its current date of May 2010.

The current version of credit, with provisions to increase the household income ceiling to $250k and the provision to extend the credit to current homeowners does not benefit our society, only real estate brokers, who, I believe, are not a professional class undervalued by society and in need of federal subsidy.

While it can be argued that home ownership strengthens communities (but probably not as much as we think), these new credits do not increase ownership. They simply transfer wealth regressively from renters to current home owners (and increasingly wealthy ones at that).

The goal of having the government artificially re-inflate the housing bubble is not a noble or sustainable one. And while i support the federal government's right to intervene in markets, this seems to be a case where it is clearly inappropriate.

If you can explain to me how this credit benefits our society at large, I am certainly willing to listen. Otherwise, I entreat you to represent your constituents, and let this obvious boondoggle die.


1 comment:

Senor Beavis said...

I only pay the Homer Tax.