Tax Forms and Tax Laws

I got an idea to help the economy and homes sales market.

Along with giving folks a break who own a home, give us a tax break so we can afford to buy a new one. I file an affadavit with my taxes stating an intent to buy within the next 12 months, and Uncle Sam sends me a check for say 10% of what I reported as income for the year. If I buy within the year, the validation is the fact that I claim either a new address or a tax credit for the interest paid. If I don't buy in that 12 month period, the money I got converts to a loan with a 5 year payback at market rates until I do buy, and then Uncle Sam sends me back a check for what I made in principal payments, but keeps the interest.

Makes sense to me.

[QUOTE=HURRICANEBOB;449947]I got an idea to help the economy and homes sales market.

Along with giving folks a break who own a home, give us a tax break so we can afford to buy a new one. I file an affadavit with my taxes stating an intent to buy within the next 12 months, and Uncle Sam sends me a check for say 10% of what I reported as income for the year. If I buy within the year, the validation is the fact that I claim either a new address or a tax credit for the interest paid. If I don't buy in that 12 month period, the money I got converts to a loan with a 5 year payback at market rates until I do buy, and then Uncle Sam sends me back a check for what I made in principal payments, but keeps the interest.

Makes sense to me.[/QUOTE]

The federal government already provided incentives for people to buy new homes, and that didn't work out so hot. Besides after government finishes with it, your single paragraph would add several more volumes to the already hopelessly complicated tax code.

A major reduction of the federal government's size and influence, elimination of the IRS as we know it, and a flat tax rate for everyone including corporations gets my vote.

This ObamaCare crap is supposed to require how many new IRS employees? 16,000? They need those men and women to keep the records straight. Translation= to figure out how to get more out of you and your family.

[QUOTE=DJD;450020]This ObamaCare crap is supposed to require how many new IRS employees? 16,000? They need those men and women to keep the records straight. Translation= to figure out how to get more out of you and your family.[/QUOTE]

As I understand it, those new IRS folks will be making sure you have insurance, and levying a fine if you don't. Unless of course you are one of the many, certain unions for example, who've been given an exemption by the most transparent administration in history.

All this in spite of the fact that in the latest legal challenge by a majority of states, the judge invalidated the Obamacare law in it's entirety. Top law enforcement officer, AG Eric Holder, the most incompetent and bigoted fool (sorry, there's just no other way to say it) ever to hold that office drags his feet to delay the inevitable Supreme Court test of the law.

If the Supreme Court rules the federal government can legally force us to buy insurance, or anything else for that matter, we might as well be British colonists again.