I have received many emails asking why I am posting political information. Well the answer is simple; the policies that are set by an administration affect each person that is trying to obtain a new mortgage. The polices that triggered the mortgage meltdown where seen coming a mile away and the Democratic Party blocked the possibility of averting the meltdown. The Bush administration did try to change the policies of Fannie Mae and Freddie Mac in 2005 but they where defeated by Congress. A Democratic Congress no less.
Barney Frank is on record stating that Fannie Mae and Freddie Mac where both sound and that they did not need any changes. Franklin Raines, Obama’s financail adviser, the same guy that got the 150 million dollar golden parachute. The Obama plan is to reduce taxes on people making less than 250,000 per year. To raise taxes on rich people even more is ridiculous. I am not even a six figure guy but I do know this, poor people do not provide jobs. Even if Obama gets elected there is no money to do what it is he wants to do. If you believe that Obama’s economic plan will work then break out those pretty red sparkly shoes, click your heels together and say “there’s no place like home three times”.
Your still there aren’t you? Those shoes, work as well as the proposed Obama economic plan. If people making more than 250,000 a year are going to get taxed more then jobs will be reduced. Our country has the second highest corporate taxes in the world. Do you understand what that means? If companies have to pay high taxes then these companies will only pass on the additional taxes to the consumers, YES, you and me. The average person does not understand this nor does McCain explain it well but the Obama plan will take us back to the Jimmy Carter days. If you do not understand what that means then spend an hour and read about the state of the economy at that time in our country’s history. The job you save may be your own!