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Obama's Equation of Mortgage Refinancing With Tax Cut Lacks Certainty

Discussion in 'Political Debate & Discussion' started by Revmitchell, May 9, 2009.

  1. Revmitchell

    Revmitchell Well-Known Member
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    President Obama's assertion to homeowners that refinancing their mortgage loans now with interest rates at a near-record low equates to a tax cut isn't that cut and dried, according to tax analysts.

    Obama said at his third press conference last month that the housing plan his administration has launched has "already contributed to a spike in the number of homeowners who are refinancing their mortgages, which is the equivalent of another tax cut."

    But tax analysts told FOXNews.com that lower mortgage rates actually reduces tax savings.


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  2. targus

    targus New Member

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    "But Obama failed to mention that unlike the housing boom that led to the current financial crisis, only borrowers with strong credit and stable jobs are able to save money if they refinance."

    Well then, if it is a "tax cut" it apparently is only a tax cut for the "rich".
     
  3. OldRegular

    OldRegular Well-Known Member

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    The only thing that is not uncertain about obama is that he is strangling our military, particularly our missile defense, and he is moving us toward a Fascist/communist state like his buddy Chavez.
     
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