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Should taxpayers pay other peoples mortgages if they're unable to?

posted 2/20/2009 7:14:14 PM |
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tagged: politics, money, straddle
  StraddleMyNose

Under Obama's plan, taxpayers will have to pay more taxes and bailout people who couldn't pay their mortgages on their houses. A lot of these people who couldn't pay their mortages got in over their heads when they purchased a house they couldn't afford in the first place. Do you feel that it's our (taxpayers) responsibility to bail them out with our own money? Yep, Socialism is starting to grow here in America!

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Should taxpayers pay other peoples mortgages if they're unable to?
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Comments:

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selectusername

Feb 20 @ 7:29PM  
If he subsidizes my gold membership so I can see the nudie pics,

I'll vote for him!!
PinkToeNails

Feb 20 @ 7:31PM  
Hell no! I can't even afford to pay my rent right now! I despise having to bail other people out who got in over their heads and bought something they couldn't afford! It just infuriates me!!


But wait! We're getting 13 dollars!!! woo hoo!!!


1bunny629

Feb 20 @ 7:31PM  
Alot of people don't know they are getting into more than they can handle/ They see stars and glitter and just fll into a trap that tightens as they squirm. It is your responsibility as a buyer to research what is affordable. Some people just aren't that educated no matter how much money they have. Many think materialistic rewards improve their life and project an image of security and sensability. they are wrong. The banks got greedy. They let many over buy so to make the money needed to keep the banks afloat and their pockets full of commission. They then sell the mortgage to another company that ends up facing the evidence of the firsts misguidance. I think the loan officer and/or the person that signed the loan as a good risk should be the one to have to pay for the properties that shouldn't have been purchased by those defaulting to begin with. Many were fudged and shoved thru to line others pockets quickly, yet briefly. Look what greed does!
StraddleMyNose

online now!
Feb 20 @ 7:34PM  
But wait! We're getting 13 dollars!!! woo hoo!!!
1bunny629

Feb 20 @ 7:37PM  
Yep...and the 13 dollars will be paid back tri fold by yourself. Nothing is free.
selectusername

Feb 20 @ 7:51PM  
I'll give a serious opinion for once in my life:
Free trade with China and Mexico sucked all the
jobs and money out of this country and continue
to do so. You CAN'T fix that with astronomical
government debt. People buy houses because
they have decent paying jobs which mostly result
from the USA manufacturing, producing and or
exporting products, NOT just buying cheap shit
from foreign countries produced by foreign labor
in foreign factories. Congress passed both these
insane, destructive trade agreements under the
Clinton administration with his hearty approval.
Bush made his own mistakes but the expensive
Iraq occupation was something we could have
paid for if the economy hadn't collapsed as a result
of those suicidal trade agreements pulling the
plug in the giant bathtub of the economy.
Our country is fucked right now in so many ways
and I wish I could be optimistic but it looks hopeless.
China and Mexico don't buy shit from us, that's not
racism, it's just simple economics. Now we also
see the folly of using stock market investments as a
retirement plan, which is essentially the concept
of a 401k plan. A crackpot scheme whereby workers
supposedly paid for their retirement by buying stocks
or mutual funds. Where is that money now? Most
of it evaporated recently so that adds even more
job seekers since those people who might have
retired will now be trying to continue working since
their 401k's are fucked like everything else.

Always delighted to share my cheerful optimism!!
PinkToeNails

Feb 20 @ 7:58PM  
Speaking of free trade with mexico.... I heard tonight on the news that the Peppermint Patty plant in PA closed down, 300 people lost their jobs! Guess who got them! ding ding ding! you got it!! mexico!!!!!!! I'll never eat another one!!!!!!
Thanks billary!!!!! that prick ass mo fo!
sugarnspice005

Feb 20 @ 9:23PM  
Do you feel that it's our (taxpayers) responsibility to bail them out with our own money?

I didn't want to bail out Wall Street either when Bush signed the TARP bill, but. we're going to be paying on that also.

Let's not forget either, that some of those who are behind on payments are behind because they have lost their jobs and haven't been able to find employment.

So, what's the solution then? Letting people get thrown out of their homes and onto the streets?
onehornytoad69

Feb 20 @ 10:07PM  
Yanno... I'm not much on these type blogs.....but I just had to say sumfin this time!!!.. BTW..are we gonna have to hear you bitch for 4 years? Love ya like a bro!!!
But... please do tell Straddle....
If You were loosing your house...(and you had a Family) would you seek help? Or let them Help you?
Not because You over Spent your Budget...but because you Lost your JOB!!! Would You take help from the Gov.?
Think about the PPL..who have Paid their dues... the Ppl that have had their homes for years and years!!! The ones that Lived on a Modest budget...and made ends meet...but..Lost their Jobs!!! Not everyone Over spent their budget.. yanno?
I know... employers..dont Go for Us.. older ppl... Try getting a Job now adays... at 50 years of age.. and over (hell even at 40 years ...!!! )
Free trade with China and Mexico sucked all the
jobs and money out of this country
AMEN!!!!
Who ever did that..Fucked the USA!!!
And BTW... It was Americans..that did this.. not just the ones that passed the deal..but the Investors.. the big money ppl!!!
Who is to blame? Americans!!! Prolly.. ...some of your Rep. Friends!!!
To top that Off... they(Bush) LET the Oil ppl... raise the price of Gas so high... Ppl... that had Jobs...took their House PMT monies..to buy Gas!!!
I Read one Research thingy... about what the cost of Gas did to a Avg. Family....for every Dollar gas went up.. it Cost the Avg. Family...(not single) $200.00.... per month!!! X 3 or 4 bucks more a gallon...= OH FUCK ME!!
Thanks... Mr. Bush!!!!! (and I voted for your Sorry ass!!! )

Personally... I think.... forget bailing out the Banks...and the Auto ppl....and the Home thingy give us the "People" the Money(every American!)....but I will not get into all that! lol
Somebody has to do something... Bush Didnt Do shit...!!!
Thank God...someone is TRYING to fucking help!!! Amen!!!
My 2 cents!!!!
Wordsofwit

Feb 21 @ 5:41AM  
Alot of people don't know they are getting into more than they can handle/

Most of them have probably already been foreclosed on and that was what largely started this mess snowballing two years ago.

the Peppermint Patty plant in PA closed down, 300 people lost their jobs! Guess who got them! ding ding ding! you got it!! mexico!!!!!!! I'll never eat another one!!!!!!

I guess they will be marketed as Peppermint Pedros now.

The people I feel sorry for people like those 300 who may have been paying responsibly on their mortgages for many years only to lose their jobs. Their property values may have recently declined to where they don't have enough equity in their homes to get a home equity loan to help them stay afloat.

I roll my eyes at some of the people that rail about this that are renters.


PinkToeNails

Feb 21 @ 8:11AM  
Yeah I tend to roll my eyes at people who feel the need to be a dick all the time
StraddleMyNose

online now!
Feb 21 @ 9:38AM  
Yeah I tend to roll my eyes at people who feel the need to be a dick all the time
Wordsofwit

Feb 21 @ 10:17AM  
Kudos to onehornytoad69.

Another aspect to all of this is far reaching. As people know, fewer and fewer people are going to retire with pensions. Over the past 20 years, many people had worked for a company many years only to get laid off. If they were over 50 when this happened, their shot at a pension with their next employer became zilch. Baby boomers had became baby bummers.

As they approach retirement age over the next decade, for millions, their only asset is their home equity. If they lose their home today because of unemployment, where will they or society be down the road when they can't pay their own way?

The economy is kind of a two headed monster. We have unemployment on one hand and a drop in property value on the other. Two and a half years ago houses in my middle class neighborhood were selling for $120,000 to $130,000. Today it is $75,000 to $85,000. This cycle has happened frequently in the past where values have gone up and down since I bought my home 23 years ago for $87,500.

In 2001 we had a recession known as the .com bust. By 2003 the economy had recovered and people were working. America will rebound. But we have to find a way to keep homeowners at risk due to the current downturn in their homes until brighter days return. If we don't, when they hit retirement age, millions of these people will have no financial assets and the whole country is going to be in trouble.



Wordsofwit

Feb 21 @ 10:19AM  
BTW, better to be an intelligent dick than a dumb ass.
PinkToeNails

Feb 21 @ 10:33AM  
Fuck you bruce!
PinkToeNails

Feb 21 @ 10:40AM  
You came after me first on this blog..... so you and all your "intelligence" can kiss my ass....I am far from being a dumbass!! I blocked you so I didn't have to listen to your pissy ass remarks on my blogs, now if everyone else did the same, you would have nothing to do all day but post your own idiotic blogs!!
Wordsofwit

Feb 21 @ 10:50AM  
A couple of other points to add. One is that there will be people that change their mind about this in the months ahead if they, their family, or friends who have lost their jobs have to take advantage of it to make their mortgage payments.

The other point is much more self serving, every foreclosure drops the value of every home around it.
testoserone

Feb 22 @ 12:28PM  
Blame it on Clinton? Stupid fucking replican'ts! 6 years they controlled congress and 8 years the executive branch. Took a budget surplus and turned it into a deficiate in the first year. If you lost your job or your house your retirement, and voted for bush, then blame yourself you young and dumb snot Nosed fool.
StraddleMyNose

online now!
Feb 22 @ 1:41PM  
. If you lost your job or your house your retirement, and voted for bush, then blame yourself you young and dumb snot Nosed fool.

Enough of the name calling. I don't have to give you a voice on my blogs, especially if you're going to start calling everyone you don't agree with names on here. I deleted your first comment off of my "Welcome to a Solcialist economy" blog once, and I'll start deleting more of your name calling comments off again if I have to!
Swede

Feb 22 @ 9:22PM  
Yes, definitely...I think it's brilliant to let responsible people pay for irresponsible people.

It makes so much sense.

NOT!
TwistAndShout

Feb 23 @ 6:49PM  
One person here responded to a person who disagreed with Straddle by calling that person a dick and saying "fuck you."

Then, Straddle tells a person who disagreed with him that no name calling is allowed and threatens to block his comments.

Aside from the fact that the "comment police" are a little one-sided, the more obvious problem is this continued insistence to flog everyone here with your political views.

Again, I ask - why not take this discussion to a website where people go to have these arguments? All this is doing is getting people pissed off at each other.
StraddleMyNose

online now!
Feb 23 @ 7:07PM  
One person here responded to a person who disagreed with Straddle by calling that person a dick and saying "fuck you."

Then, Straddle tells a person who disagreed with him that no name calling is allowed and threatens to block his comments.

Aside from the fact that the "comment police" are a little one-sided, the more obvious problem is this continued insistence to flog everyone here with your political views.

Again, I ask - why not take this discussion to a website where people go to have these arguments? All this is doing is getting people pissed off at each other.
You must have a personal issue with me. You seem you want to find fault with me no matter if someone is throwing names and shit around at me. I know you commented on my other political blog, and I commented on it after you. But honestly now, looks like you have some sort of beef with me just because of my political views. Instead of attacking with with personal attacks, why not just debate me on the political issues instead of your hidden ageda of your dislike for me?

I allow anyone with different views on my blogs as long as they don't taack me personally and with the name callings. What, you think that's too much to ask? Well, those are my rules, and I'm allowed to have them, and if you don't like it don't read and post comments on my blogs then!

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Should taxpayers pay other peoples mortgages if they're unable to?