WHAT ABOUT MORE TAX INCENTIVES FOR HOUSING

HERE'S SOMETHING TO THINK ABOUT:

For the money we gave to GM we could have given 3.3 MILLION HOME BUYERS a tax credit of 15,000!! This would have gone a long way to stabilizing housing. As Warren Buffet said...we must fix housing to turn this economy around.

For the past year, I have strongly suggested more TAX INCENTIVES for home buyers. Historically, sales/price discounts have worked and businesses that are offering good deals are finding buyers today! It is working in retail. People are seeing deals with restaurants, hotels and clothing stores and people are being lured towards those businesses because they see a DEAL.

This is why, more incentives for first-time home buyers AND ALL HOME BUYERS is a very good idea. Some suggestions:

A. For a limited time, give investors a CAPITAL GAINS HOLIDAY if they purchase a home today. It will cost taxpayers nothing now, it will stimulate the economy, increase demand and get us closer to stabilizing housing. The government will not receive much revenue from capital gains for a few years anyway but investors will see the benefit and respond. We still have lots of money sitting on the sidelines waiting for the right opportunity!

B. Extend the tax credit to first-time home buyers through next year, increase the amount to
$ 15,000 and offer it to buyers of all homes or offer it to first-time buyers only and a capital gains holiday to all other buyers of homes (of course set an upper price limit)