Obama wants to bail out homeowners

Obama is being dumb again.  This time it’s even more asinine and mind blowing.  According to the new plan, those that have fallen behind on their mortgage would be able to stay in their homes and pay rent instead.  This means that the bank will repossess the home but the people get to continue living there.  This part isn’t so bad.

Under one idea being discussed, delinquent homeowners would surrender ownership of their homes but would continue to live in the property for several years, the sources told Reuters.

One thing I don’t understand is why they would want to still live in the same home.  Generally, rent for a home is more than the mortgage payment.  If they can’t make a mortgage payment, what makes the government think they can make the rent payment?  The only way this would work is if the government is charging rent that is less than market value.  But the following is what really blows my mind.

Officials are also considering whether the government should make mortgage payments on behalf of borrowers who cannot keep up with their home loans, tapping an unused portion of a $50 billion housing aid kitty.

As part of this plan, jobless borrowers might receive a housing stipend along with regular unemployment benefits, the sources said.

So now the government wants to start paying the mortgage, too?  That just doesn’t make sense.  That continues to compound the problem.  That’s the same as giving free money to those that are not responsible.  While we don’t know the details, it probably means that the irresponsible get free equity in their home.  They get to continue to free-ride on society.

And then, those that lose their jobs will also get a housing stipend?  What?  I knew we had welfare for those that really needed it, but this is pushing it too far.

In summary, according to this plan, if I’m behind on my mortgage and then I lose my job, the government is going to pay my mortgage and then also pay me a stipend for all of my troubles.  There’s a big freakin’ problem here.  If the government is going to bail us out every time we have a problem, where’s the incentive to work hard and succeed?  Combine this with the 5.4% proposed surtax on wealthy individuals.

Obama’s administration is really starting to turn into an Obamanation.  Obama needs to learn about economics a grow a brain.  This plan to bail out homeowners is just plain dumb.

Obama tax on work cell phones?

It came out over the weekend that the IRS and the Obama administration are looking to tax the use of work cell phones as a fringe benefit.  This is after all of the talk of Obama wanting to tax health benefits that are paid by employers.  What happened to Obama’s promise to not increase taxes for those of us making less than $250,000 a year?  Obama tells us another lie, and the people keep buying his crap.

We have to look further into the issue.  Why is Obama wanting all of these taxes?  It’s not really a matter of want.  Obama actually needs these taxes.  He needs these taxes if he is going to fund his government run health care program.  All of the sheeple out there think this Obama health care is going to be great.  They think it’s going to be free or less expensive.  While you may not pay money when you visit the doctor, they’re paying for it with higher taxes.  That’s the only way things like this work.

While I generally dislike taxes, this type of tax would be more regressive than progressive, affecting those that make less money.  As Stacey Higginbotham puts it, “Cell phones are no longer the status symbols of the privileged few who work in international finance or software sales.”

Keep your health plan, keep your bailouts, and keep your hands out of my pocketbook.