Margaret Schaut

One more conservative viewpoint on the world at large.

Corporate Welfare for the Depression Era Begins Today!


great depression

Today was my lucky day and I discovered in my mail box the FIRST new Corporate Welfare Package of our new Depression Era, courtesy of our State Representatives! Given that, of course, the next batch of property tax bills have all been sent, this gentle and kind letter reminded us that despite the downturn in our economy (which ranks BELOW Louisiana now) that we can expect a minimum INCREASE in our property taxes due to Proposal A (a bitterly fought trade off), and so our taxes will increase 2.5% even though the properties have taken a HUGE fall in value.

We’ve LOST over 40,000 families from our state, because we’ve lost hundreds of thousands of jobs. The people who remain cannot sell their homes, cannot rent them out, and more than 1 out of a hundred remaining homeowners are facing foreclosure regardless of whether or not they had these ‘sub-prime’ loans.

However, despite the continuing free-fall of the state economy, our representatives have seen fit to INCREASE the State budget anyway even though there are fewer and fewer citizens left to serve, in any way, by the hour.

Now these genius legislators are working on a ‘package’ to help ‘struggling families’ through the worst economy in the nation and the highest rates of foreclosures and concurrent homelessness. Among a range of worse than useless but expensive ‘legislation,’ the mortgage companies and over-builders get their fair share: the State will ‘attack mortgage fraud’ and pay to ‘provide more training for loan officers‘ and reducing the ‘pop-up’ tax (whatever the hell that is) and extending the homestead credit to facilitate sales. The assessors can expect a run up of business too, at the expense of unemployed families, because in order to appeal the tax increase, one needs a current assessment by a ‘reputable’ assessor, which run around $1500 total, the last I heard.

Aside from the fact that this does NOTHING to ease any burden for ‘struggling families’ but in fact increases their expenses or they can just suffer with more taxation; it also gives ONE MORE shot in the arm to the mortgage industry- why should taxpayers have to pay to train loan officers WHO ALREADY KNEW WHAT THEY WERE DOING?

In a hard-working state like Michigan, the loan fraud for purposes of mortgage lending was extremely low in percentage. Those fraudulent loans were especially prominent in other areas of the country with hot housing markets where ‘investors’ were hoping to buy and ‘flip’ ownership at hefty profits. There was no such market here.

Those losing their mortgages here were working families, usually two income with kid type families, who began their downward slide when the job market finally collapsed. Instead of HELPING these homeowners, our state wants to play further games with its suffering families and increase their fees, costs, and taxes all in the smoke and mirror games of ‘helping’.

Almost any long-term citizen of this pathetic state can think of a list of thousands of ways our representatives have made it less and less desirable to be here, thousands of mistakes that did nothing but hurt the citizens and suck them more and more; thousands of things that could be UNDONE at no cost that would actually ease the suffering.

But, no, our representatives want to ‘attack fraud’, and train the poor misguided mortgage industry, all the while increasing the taxes and the burdens on already devastated people.

Look out America, Senatus reports similarly impressive ‘stimulus’ packages for YOUR area.

If you need further proof that Government CAN’T OR WON’T solve your problems, as Ron Paul says, just wait a bit. You’ll find it right in a mailbox near you!

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2 Comments»

[…] Margaret Schaut wrote an interesting post today on Corporate Welfare for the Depression Era Begins Today!Here’s a quick excerpt … and reducing the ‘pop-up’ tax (whatever the hell that is) and extending the homestead credit to facilitate sales…. … and so our taxes will increase 2. 5% even though the properties have taken a HUGE fall in value…. … which ranks BELOW Louisiana now) that we can expect a minimum INCREASE in our property taxes due to Proposal A (a bitterly fought trade off),…But, no, our representatives want to ‘attack fraud’, and train the poor misguided mortgage industry, all the while increasing the taxes and the burdens o n already devastated people…. […]

[…] Original post by Margaret […]


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