Let’s face it, sometimes politicians say the dumbest things.
And on March 25, 2010, Ron Paul (R-TX) may have taken first prize in the Stupidest Thing a Politician Has Ever Said contest.
That was the day Representative Paul introduced the Homeowner Tax Credit Extension and Expansion Act.
Here is part of his statement to the Speaker of the House made upon introducing his legislation:
Madam Speaker, today I introduce legislation to permanently extend the first-time homebuyer tax credit and to make the credit available to people whose homes have been destroyed by a natural disaster, such as a hurricane. (my emphasis on permanently)
Now in and of itself, permanently extending the first time homebuyer tax credit is pretty dumb. Let’s not even ponder how the heck to pay for a permanent $8,000 tax credit. Since when has how to pay for something bothered the politico? I’ve said here many times that this tax credit needs to die, and that free market forces need to be allowed to run their course. That such a permanent tax credit would come from a politician that bills himself on his own re-election site as, “the nation’s leading defender of free markets” makes this proposed legislation even more ludicrous.
But that’s not the truly stupid thing…
From the same address to the Speaker comes this pearl of wisdom:
Renewing the first-time home buyer’s credit will help Americans purchase a first home with their own money, instead of having to rely on government-funded or backed programs.
Huh???
Read that again…
Renewing the first-time home buyer’s credit will help Americans purchase a first home with their own money, instead of having to rely on government-funded or backed programs.
“With their own money”? What the hell? Maybe I’m just an idiot, but isn’t a tax credit like… Not. Their. Own. Money. Recall the first-time homebuyer credit was fully refundable. If your tax liability was zero, you still got an $8,000 refund check. That wasn’t your money. That was other taxpayers money.
“Instead of having to rely on government-funded or backed programs”? OK, so I suppose technically a permanent tax credit isn’t “government funded”. It’s taxpayer funded. You know, by you, and me, and our children and grandchildren.
You’ve got to be kidding me Dr. Paul.
You stand on the House floor and say renewing (permanently no less) a tax credit “will help Americans purchase a first home with their own money”.
Seriously?
Well thanks Mr. Nation’s Leading Defender of Free Markets. That just makes perfect sense.
And I’m sure the fact that Dr. Paul is running for re-election this year has nothing to do with the introduction of this legislation…












I'm Jay Thompson, and I have a little blogging problem... Welcome to The Phoenix Real Estate Guy, or "TPREG" as I fondly refer to it.
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