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alstry (35.09)

HB Tax Rebate Great Idea!!!!

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April 09, 2008 – Comments (6)

Only if every homebuilder executive rebates to the government every dime of bonus and stock profits made during the years of the effective rebates.

See how excited the homebuilding industry will be for the passing of the legislation then.

How can you incentivise companies that overbuilt and created too much supply materially contributing to the problems we face today.  The best thing we can do is force companies out of business to bring supply and demand back in balance and reward those builders that acted responsibly.

You mean those builders that are still building moderately and making a profit don't get an incentive?  The plan is insane, but if the executives give back their bonuses and stock profits, that will be over a Billion dollars to subsidize the plan.

Good luck getting the exectuives to agree to that.

6 Comments – Post Your Own

#1) On April 09, 2008 at 1:15 PM, mandrake66 (93.25) wrote:

Don't even get me started on this. There's nothing the homebuilder sector needs more right now than a cleansing wave of bankruptcies, both to wipe out the weakest companies and to speed the recovery for the strong ones. The dumbest idea in the world is to keep lots of struggling companies going a little longer when we have about 2-3 years of oversupply in housing. Why don't they rob some more money out of my pocket and give it to some irresponsible millionaires, as a reward for their irresponsibility?

The reason the Senate felt this was so important is because the homebuilders stopped giving campaign contributions a few months ago. If this were done secretly, in a back room, and caught on a wiretap it would be called corruption and politicians would be sent to jail. But they did it out in the open, so it's ok. Anyone who supported this legislation should be on their way to a federal penitentiary. I wonder which lobbyist wrote it?

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#2) On April 09, 2008 at 1:50 PM, leohaas (32.07) wrote:

It's what you get when you need Republicans to sign off on help for people facing eviction: business needs to be thrown a bone!

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#3) On April 09, 2008 at 2:15 PM, cubanstockpicker (20.55) wrote:

Good point mandrake, the senate is alwyas good with their retrun on investments. Give billions to homebuilders so they can give them 20 million next year. Sound like a solid plan, its what they call accounting in the "rears"

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#4) On April 09, 2008 at 6:59 PM, thisthatother47 (88.81) wrote:

congress.org.  Just type in your zip code and it will give you all your reps and allow you to drop them a note.  After that CALL THEM.  Often.

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#5) On April 10, 2008 at 9:39 AM, TDRH (99.66) wrote:

Wow, I read this after I had written on your most recent blog.

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#6) On April 10, 2008 at 3:07 PM, thisthatother47 (88.81) wrote:

Another "wow" is your ranking TDRH - nice work!

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