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> "If anything, our policy should do the opposite of what the GSEs promote: if you have a low income, and you try to borrow money to buy a house near where you
by AdamM12 8y ago
> "If anything, our policy should do the opposite of what the GSEs promote: if you have a low income, and you try to borrow money to buy a house near where you work, there should be a surtax to discourage this bad diversification. There are other savings vehicles that don’t closely correlate with your income; buy those instead!"
I think this is my favorite line. Let's tax the poor more for living close to where they work.
- AnimalMuppet 8y agoBroader, let's tax behavior we think is financially unwise - for the good of those too dumb to see how financially unwise the behavior is. The author can take their condescending smugness and get lost.
- michaelmrose 8y agoMy head almost exploded when I read this. On the one hand you have a bunch of landlords which are incentivized to squeeze the poor for all their worth while looking for a reason to exclude anyone with financial challenges in their past including the massive number that correlate not with poor decisions but with ill health. Then you have terrible people calling for taxes on the poor to tax them out of houses because they think its a bad risk and subsequently into the hands of the landlords if and only if they will have them otherwise I guess they can go sit on the corner. I'm goddamn disgusted.
- closeparen 8y agoWhen the last employers pack up and leave the industrial heartland, all those mortgages are going to be deep underwater, and all those workers are going to be locked in places with no work. Many already are (see: Flint, MI). I hope you are prepared to pay their living expenses in perpetuity.