The inflation in real estate prices is a big problem, and is likely to be

I support an alternate way for the gov't to support housebuying:
50% tax credit on house payments (interest and principle), with
some lifetime maximum ($2, 3, 400 000?).  The churning of mortgage
loans in order to keep high interest payments in order to keep
a larger deductible has to have lots of negative influences.

I don't see any big reason the gov't should hugely subsidize houses
of more than $800 000.  The huge mortgage payment subsidies is
one of the worst welfares for the rich.

I don't like the Left's desire to punish, er, tax the rich -- but I also
don't like the Reps wanting to use gov't to give the rich welfare.

This idea comes from a desire to see a flat rate tax, like Russia
has and Slovakia will be getting (1.1.04) -- until a different system
of helping workers afford homes is put into place, a flat rate tax
will be really unlikely in the US.


----- Original Message -----
From: "Fred Foldvary" <[EMAIL PROTECTED]>
Sent: Saturday, December 06, 2003 2:41 PM
Subject: Re: Real wages constant since 1964?!

> > If you measure wages in desk calculators instead of dollars, I'm sure
> > they've gone up substantially!  ;-)
> > --Robert
> And if you measure wages in units of a real-estate price index, they have
> gone down substantially!
> Fred Foldvary
> =====

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