Perhaps if you make over $200,000 a year, and you are given a big tax break, you can afford the inflated price of a house in California or anywhere else in the U.S...It seems to me that tax breaks for the rich work in two ways...Yes, they do release more money into the general economy, that is simple math...But the off paper values seem to have socially negative bottom lines..More available money for the affluent seems to drive the price of everything up, most assuredly the essentials of life...food, shelter, clothing etc.
The spike in price of housing that is spoken of in this thread reminds me of the Reagan era, when housing in my native Bucks County, Pa. went through the roof...when reality set in, there were countless numbers of repossessions, and bankrupt developers were common...Houses selling there for $400,000
at the end of the gippers term are selling for $250,000 today...
Reality made those prices trickle down, Tax breaks for the rich allows them to trickle on the middle class and poor, it is the nature of the capitalist beast, that is why we have laws to restrict the beast from lifting its leg on the common man...ok, ok you can classify me as liberal if you want, point out that the neo cons have given most of the tax brackets a tax break, but math tells you that a couple thousand dollar a year break will not buy you shelter in a market that has quadrupled in 4 years...
[This message has been edited by ice (10-06-2004 07:54 AM).]