Tuesday, November 24, 2009

New Homes Sales Are Up - Thanks to a First-Time Home Buyer Tax Credit

By Douglas V. Gibbs

Pent-Up Demand and Tax Credit Drive October Home Sales Rally Sales Up 24.2% Statewide and 33.3% in Chicago Region - First time home buyers are taking advantage of record low mortgage interest rates, affordable home prices and the federal first time homebuyer tax credit. As a result, the number of new homes purchased in October saw an increase. The real credit goes to the first time home buyer tax credit which, in my opinion, drives home the case that tax credits (tax cuts) really do revitalize economies. How about the Democrats recognize the obvious, and cut taxes across the board? Naw, that makes too much sense, and we know what the Democrats think of reality, and common sense.

Hmmm, maybe if you were to cut income taxes from the rich down to the poor it would give people more money to produce goods, manufacture products, sell the goods, and buy the products! Gosh, then you could give tax credits and back off with regulations to businesses so that their operations will boom. Maybe if you gave tax credits to large corporations they'd expand. Maybe if taxes on manufacturing was backed off more products would be produced, increasing the supply, dropping the prices, encouraging consumer spending, creating jobs, and helping the economy!

Naw, that would be too easy. The Left would rather turn us into a third world socialist nation with a dying economy, and government control over the people.

-- Political Pistachio Conservative News and Commentary

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