Gee, What Will The GOP's Trickledown, Tax Cut Solution To The Mortgage Mess Be?

[Median Democrat]

Will it be to lower corporate taxes for banks in the hopes they fill giddy, and voluntarily re-negotiate or refrain from adjusting mortgage rates upward? Perhaps they will give the tax breaks to collection agencies, so that we can solve the unemployment problem by having a thriving loan shark industry. Maybe the GOP will propose to relax, rather than strengthen, regulations because if we stop requiring disclosures, then the banks won't tell us the bad news?

Who knows? I am just giddy looking forward to the alternate universe ideas from the GOP on the mortgage mess.

[spindrifter]

1. They will support just lowering taxes for corporations and

the wealthy--don't tax people involved in banking and hedging funds at all. Then, see, that will enable them to buy the houses that the poor suckers can't pay for anymore--if they feel like it. Then the wealthy and the corporations will be able to rent the houses back to the poor suckers who don't own anything. Oh, and no more rent control for New York City people.

[Beartracks]

3. They're too stressed!

> don't tax people involved in banking and hedging funds

Yes, they are stressed enough as it is! :eyes:

[Juche]

2. Cut property taxes

I think that is what they are going for. But I could be wrong. Either way, cutting property taxes when state governments are on the brink will result in endless thousands of layoffs of people involved in public service. I have no idea how Cantor is going to cut property taxes as they are not federal.

[Median Democrat]

4. That Would Be A Major Attack On State Sovereignty

State governments jealously guard their authority to impose property taxes. However, I would love to see the rifts between Congressional Republicans and State Government Republicans if the Congressional Republicans started advocating federal interference in the State's authority to impose property taxes. California Republicans will view it as an attack on the sanctity of Proposition 13.

[leftofthedial]

5. tax credits for the corporations that hold bad mortgages,

federal buyout of their damaged assets, and a reduction in their overall tax rates.

[ThomWV]

6. Tax reductions for Forclosure operatons - after all, why should they pay?