SMOKE AND MIRRORS!

Whom can we trust is Washington???  This is a question which all Americans must address in this very important election cycle.  Please inform yourselves and consider the possible consequences of casting your vote for anyone supporting this type of smoke and mirrors tactic for any legislation.


We cannot afford to take any promise at face value...we must do the work and research the candidates and those already in power to learn the HISTORY of what they have done in the past.  I believe that some have truly changed their minds about important policy issues...AND SOME WILL SAY WHATEVER NECESSARY TO WIN OR KEEP THEIR POSITION.  We must not be fooled by false statements made by politicians.


PLEASE STUDY THE ISSUES AND THE POSITIONS BY ALL WHO SEEK ELECTION OR RE-ELECTION.  Your future depends upon your decision. 




THE BELTWAY BANDITS HAVE DONE IT AGAIN!

By indianriverteaparty.com

The debacle of the two month payroll tax "cut" extension is enough to make a calm person's blood boil. In addition to the smoke and mirror antics by the President of the United States and Senate Democrats, Republican leadership did little to inform the public of what was unfolding and even less to stop it.

To pay for the 2 month extension, the Senate simply tacked on a new fee for mortgages backed by Fannie Mae, Freddie Mac and the FHA. This accounts for almost 90% of all new loans! So how long will this "small fee" be in affect? Only the next 10 years! And how much will be added to the upfront cost of the average mortgage? Only a mere $4000!

And it gets worse. Most new homeowners will likely roll this new fee into the mortgage amount. At today's interest rates, the extra $4000 would add $19.80 a month to the carrying cost of the mortgage. On a 30 year mortgage at 4%, the $100 of tax "savings" would cost the luckless new homeowner a whopping $7128 over 30 years.

Could they possibly stick it to the people any more? Of course. Just a few days ago it was announced that there will be a 10 basis point increase for FHA mortgage insurance premiums. And just for kicks and grins, anyone who happens to make over $110k a year will not even benefit from the payroll tax "cut".

The bill touted by your leaders as a tax cut for the middle class effectively took an overt tax that everyone saw in their paycheck details, amplified it significantly and transformed it into a hidden tax on a housing industry which is already struggling to regain stability.

For more information:

http://www.usatoday.com/money/economy/housing/story/2011-12-17/payroll-tax-mortgages/52027164/1

http://www.forbes.com/sites/robertwood/2011/12/24/payroll-tax-cut-skips-some-of-the-99/