Matty ignores the obvious that after massive federal and state tax cuts have been enacted, the state is still facing a foreclosure crisis. (Under Republican rule, Ohio cut its personal income tax some 21%, and yet continues to lead the nation in foreclosures.) Second, most of the people vulnerable to foreclosure pay little, if any, income taxes at all. There’s not enough tax liability to cut in order to make decreases in tax liability offset increasing housing costs caused by rising subprime mortgage interest rates…And if Matty would read any economic news lately, he’d realize that there isn’t a foreclosure “crisis” but a genuine one…
boo fucking yah. And…oh…btw: Our new Democratic Governor took swift action to addresss a highly documented problem. Good on ya Ted!
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