It seems like targeting rebates towards housing would be better. That is where the largest problem is. Increase funding to FHA. Grant FHA loans at below market rates to lower income people with decent credit who are refinancing adjustable rate or who are buying for the first time. To qualify, the person would have to be below average income and buying a lower priced house. This would eventually help middle-class homeowners trying to sell, because some of the people selling lower priced homes would go up to the next level.
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If you're confiscating wealth, you'll wake up and realize there isn't any. Other than real estate (which isn't worth anything in your redistributionist world anyway), people will flee the nut-job confiscatory governments in California, New York, etc. .... But really, do you think Obama has a clue about the macroeconomic impact of debt and debt creating instruments such as derivatives? Zilch, he doesn't even know how fundamental it has become. ...
Yet, there are those that still think, after three decades or more, the more funneled towards the top the better off we all become. Stagnant incomes supplemented by easy credit and manufactured economic bubbles is a wonderful recipe for the wealthy, both long and short ... But you just know this will not ever fly - any such tax on stock churn would be lobbied out of existence and would be swung over to we the people to pay - as a much more extended, far ranging sales tax. ...
So import prices actually increased in the second quarter, which lends credence to the idea that the economy is doing better than folks think. And by the way, the bulk of those imports are being used for capital-goods investment, which is ..... how long we would be in an area and don't feel comfortable buying something if we are only going to live there a year or so with housing prices the way they are. The credit just encouraged people to buy things they couldn't afford. ...
That would only help housing and only low income people who made terrible choices already. Reward terrible behavior and you just get more of it. Some bailouts have already rewarded people who were irresponsible and the people who lived within their means are mad. The only want to stimulate spending is to get money into the hands of spenders, give it to debtors and savers and it will pay off debt or get saved. You want to see ever cent given out spent send it to people on SSI they always need more than they get since they get a pitiful amount.