Wow, I just heard VP Harris give the most motivating speech of her career in unveiling her new economic program. I swear, if I knew nothing about finance, mortgages, markets, etc., I might actually vote for her.
However, two things struck me. One, she had great ideas yet didn't say one word of how to get these programs off the ground. Two, the left-wing approach will ultimately be a short-term fix.
Here's a couple of her ideas. First time home buyers will receive $25,000 toward their down payment on a new home. Sounds good. Almost like free college.
The problem? As a builder or seller, my price on the property I'm selling just went up proportionately. So, instead of selling my house for $200,000, I ask $220,000. Afterall, the buyer may be getting free money so why shouldn't I get a piece. Secondly, first time buyers will be most likely by over their head and end up with mortgages like people did in 2007 and we know how that turned out. Nide idea. Bad execution.
Her next attack will be on "price gouging". Actually, she said, "gauging" once. Damn tele-prompter. This is one more step toward government control of free enterprise and one step away from socialism. Won't work here.
Then, she plans to build two million new homes made only available to buyers, not corporations and not for rentals. Another sweet idea.
She didn't elaborate on how to pay for such a generous plan, but you can do the math. Let's just say a new home (modest) can be built for $125,000. Where's the available land? Who pays for the land? As a landowner, I would jack up the worth of that property big time if I knew the government was the buyer. My $35,000 lots just got raised to $45,0000. Again, very generous of her.
Now the bottom line is, Trump does the same thing. Grandios ideas with no meat and potatoes.
Our national debt will soar even higher giving things away. Does it make people prouder to be handed something than if they earn it?
No, these are election pump up ideas meant to stir emotions. And let's not forget the most important stumbling block to her plan. Unless she (or Donald) control both houses, the legislation will stop any of these plans.
Why can't people use facts and common sense to justify a vote as opposed to emotions?
Sorry KH, not buying. Promises Made, Promises Kept! Republicans stood, the liberal left wept.
Drill Baby Drill
Re: Opportunity Economy
Posted by Joe Smith on August 16, 2024, 2:40 pm, in reply to "Opportunity Economy"
3 million new homes, not 2 million. You scared me for a minute opi, I thought you were going to forget to both sides your otherwise pretty accurate portrayal of Kamalas price controls and big gubment takeover speech.Fetterman Calls Out His Unhinged Party Over Anti-ICE Stance, Dunks All Over Mamdani.
So, you don't think Trump makes un-doable claims? He does.
He's just a better candidate on foreign policy and that to me is the most important focus of this election.
I don't want my two kids to go fight a war in the Middle East. Harris will put us in one.Promises Made, Promises Kept! Republicans stood, the liberal left wept.
Exaggerations are pretty universal in politics, completely transforming the economy by turning us all into wards of the state is slightly more extreme. If Harris weasels her way in, Israel will break out the nukes. I'm not sure how that would work out for the U.S. at that point with her and her perv V.P. at the helm. I'm ok with her winning though, it's the only way people are going to learn. I too want to be a both-sides guy.Fetterman Calls Out His Unhinged Party Over Anti-ICE Stance, Dunks All Over Mamdani.
When FOX is telling Trump he needs to cool the rhetoric, you know it's bad. When he rants, he sounds lik an idiot. When he remains professional, he sounds like a past President who knows how to do things.
Of course, no one handles Trump but Trump..Promises Made, Promises Kept! Republicans stood, the liberal left wept.
Other than the opinion shows FOX hasn't been a network for conservatives in years. Rupert's kids are not conservatives, and they run things now. Trump takes a thousand times more than he dishes out, I'm not sure how people can't understand that, and expect him to just bend over like 99% of the other Republicans do. When he was railing on Kemp in Atlanta the other day, I didn't think that was very wise, considering he needs Georgia, but why are his mistakes amplified, and those on the other side simply ignored?? I understand that policy does not mean anything anymore and that it's JOY and white guy tacos. Again, I am ok with Kamala and A.Walz, in so many ways that will be more fun for me. And if war in the Mideast breaks out and we are in the middle of it, well, that sure beats the hell out of those mean tweets.Fetterman Calls Out His Unhinged Party Over Anti-ICE Stance, Dunks All Over Mamdani.
Re: Opportunity Economy
Posted by Soccer on August 16, 2024, 6:18 pm, in reply to "Opportunity Economy"
Opinionated - I haven't read all of Harris' plans yet so my commenting might be premature. I think any politicians plan is really just a plan at this point and designed to show the general philosophy of the candidate. Lots of unknowns all the way around.
I think the real estate related plans are great ideas, but agree the devil will be in the details.
I believe the first time homebuyer's plan was "up to $25,000.00- I'm sure the amount will somehow be related to the purchase price. Many people, not just young people have good jobs, good credit, qualifying salaries, but no down payment. You can raise the asking price of the house as high as you want, but the market will determine what you can expect to get and what it will appraise for.
I don't think you'll see the same issue with foreclosures as in the past because banks and lenders are already much more strict with qualifying criteria. Banks don't want to own houses, lessons were learned.
I'll save my comments on the other plans until I know more.
The one thing she did say that I liked was not letting medical debt count against a credit score.
All of this has to be part of a budget and that's where the rubber meets the road.Promises Made, Promises Kept! Republicans stood, the liberal left wept.
Drill Baby Drill
Re: Opportunity Economy
Posted by Millgirl on August 17, 2024, 11:39 am, in reply to "Opportunity Economy"
I agree that both parties make promises of what they would want to see in the future. Many times they can not be kept for a number of reasons. Harris plans to pay for some of her plans by raising tax on the top 10% to off set cost. So that would have to happen first. As you said Opie, it would have to pass both houses.
Trumps plan calls for more tax breaks for the top 10%. Putting tariff's Chinas imports. I am sure other things as well.
Both plans would run up the National debt by trillions over 10 years. So called economic experts are saying Harris plan would cost about 3 trillion. Trumps about 9 trillion.
I can see both plus and minus with Harris plan. I will have to listen more to Trumps plan, but so far I do not agree with him.
Shocking you don't agree with Trump's plan, I never would have guessed that in a million years. My breakdown is a little different, Kamala is a Venezuelan-style government price controller (a Socialist) and Trump is a free market Capitalist, although Kamala has no problem whatsoever poaching a few of Trump's proposals and touting them as her own. Fetterman Calls Out His Unhinged Party Over Anti-ICE Stance, Dunks All Over Mamdani.
on August 16, 2024, 2:11 pm