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This is a great temporary program for a small segment of the population who by all means should take advantage of it while it lasts.  However, I don't believe it should be extended or increased.  Much tax policy creates a series of winners and losers and this is no exception.  If I bought a house just prior to the passage of this legislation, I lost.  If I bought a car prior to cash for clunkers, lost.  Don't have a job right now so I can't get a loan to buy my first house, lost. 

In regards to the remodeling activity, did any of those homeowners, who are clearly stimulating the economy, receive any cash for counters, carpet, sheetrock, tile, fixtures, appliances, paint, insulation, windows (beyond energy tax credits which have been in place for a long time)? 

These types of tax rules help create artificial markets.  Congress should focus on more creative and egalitarian measures when using the tax code to stimulate the economy.  No extension!

posted 2 years, 7 months ago
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