Hidden Tax OnThe Middle Class Hidden In The Social Security/ Unemployment Extension Bill

No one to this point is making a big deal over a tax put into the Unemployment/ Social Security Extension Bill.  What is currently being proposed is really a major tax on any middle class person buying or refinancing a home/condo starting in 2012.

According to the bill, there will be a surcharge ( tax) put on any loans for the purpose of refinancing or purchasing.  The example offered is on a $200,000 loan. The mortgage payment would go up $17.00 a month.   The rate increases the more you borrow.

So as I understand, a middle class person/couple who saved to purchase a home may not qualify for the loan based on the increased mortgage payments. Why should they pay more to fund government’s insatiable appetite for money and spending.

When does government realize it is not a revenue problem but a spending one.

2012 elections are fast approaching!!!


About billmoore353

Retired LTC- USAR Former HS Principal- John A. Holmes HS in Edenton, NC Former HS Principal- Roosevelt HS in Yonkers, NY
This entry was posted in ECONOMY, Politics, TAXES. Bookmark the permalink.

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