The Most Unpopular Tax

Property taxes do stink. Whatever happened to HB 750? God forbid we should have somthing representing a progressive income tax that would rebate property taxes for most people...

While I agree that paying property tax is not my favorite thing to do, I feel compelled to mention the many people who would love to have the opportunity to pay property taxes, only because it means that they own property.  Unfortunately there are many out in the real world for which this dream is out of reach.  To be honest, I cheered my very first property tax bill because I had worked so long and hard to achieve the goal of home ownership and without a helping hand I would still be on the outside looking in.  Let's not take for granted our good fortune in this regard. 

I know many that got caught up in the sub-prime fiasco that I would bet dont agree with you about now.  They had a dream also,,,and got put in over their collective heads by greedy sub-prime lenders,that  hustled the paper off before they had to hold the bag for when it all went south,,,then the government bailed some of them out, I like dreams myself:)

Government intervention, regardless of the sentimentality, will only make things worse.

Hmm...now if someone in government actually intervenes to reduces government intervention is that government intervention?

Corben Rice- I agree that it is a large bill when receiving it, but most mortgage companies will offer escrow for no charge to protect their investment in you. It should also come as no surprise to anyone who is purchasing a property what a tax bill will likely be in the next year or two therefore making it easy to budget money month to month (or paycheck to paycheck) to pay this bill when the time comes.

I look forward to about a nice 20-30  year period where the Democrats control the White House and the Congress:)

Hmmm. The last time the Democrats had both the White House and Congress and pushed their liberal big government agenda, it lasted an entire 2 years.  Can't wait.

The sad thing is, in his own mind, Blago probably believes that he is on the short list for VP, and believes that a third term as governor will be his back-up. If you think Bush is divorced from reality, then Blago is not only divorced from it, but is under a restraining order to remain at least 1000 feet away from it!

This is a response to IlliniPundit @ 10:30A where there was a request for evidence. Before I provide such, in turn it would be helpful to read evidence from IlliniPundit that all of the fraud statements are B.S. rather than just a statement. I do not see any facts or figures being provided, just a lot of rhetoric.

I just returned from the International Conference on Economic Justice for Women sponsored by the Institute for Women in Policy Research, a research organization that looks at various economic aspects that affect women. The url is  www.iwpr.org, in case anyone would like to educate themselves on these issues. One of the sessions during the conference had to do with the subprime issues. The best source and most extensive for all of the data that you want to read and absorb can be found at http://www.responsiblelending.org/  and in particular the research reports at http://www.responsiblelending.org/research/   This will give you all the evidence to have a conversation based on data, not "B.S." to quote the IlliniPundit.

This organization first identified the problem in 1999 and tried to work on it on a state level, beginning in North Carolina, where the organization is located. As the research progressed, it became apparent that this was happening in all of the states and a state level solution would not work, so the organization began working on a federal level approach to rhein in what was happening and the "red lining"-type targeting of loans that was beginning to be identified from the research data. It took us a long time to identify and prove "red lining," but it was done, even in good ole C-U--where it was alive and well. This subprime mess began to surface when the deregulation went into effect in 1998.

Even though this information has been available since 1999 and growing as the research increased, the government did not kick into action until Baer and Sterns was going under.

Read about what it costs a bank to foreclose and carry a property. Then ask yourself why in the world don't the banks just deduct that amount from the loan cost and keep people in their homes. Also no bank wants to carry properties on the books.

Pattsi Petrie

Nice Ms. Petrie.  Innocent until proven guilty, unless it's corporate America.  In order to do what you want, IP would have to access every single one of the millions of mortgage documents out there.  So why don't you go back and give us the proof of the fraud.