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Posts Tagged ‘Obama’

Okay, so you come up with the idea that lenders need to help those with home mortgages that are upside down, or even predatory in nature, and you say you are going to help people stay in their homes and any bank that took bail out money needs to comply and work with the borrowers… Yet then you will only consider Freddie and Fannie backed loans?

This is ridiculous! You do realize that while Freddie and Fannie might have around 60% of the loans out there, that leaves 40% of people in the exact same position out in the cold?

My loan(s) happen to be in the 40%. I’m stuck here with a 1st and 2nd that I need help with and you’re grand plan doesn’t do a damn thing address the issue.

My “interest only” loan goes up by $1000 in November. I can barely pay the amount as it stands now, at $2000, because the industry I work in is tanking and no one wants to pay a living wage to freelancers any more. No retainers, just piece meal work that doesn’t pay regularly or that much.

WHEN are you and your cabinet, the senate and the congress going to look at anything outside of Freddie and Fannie (ah – both government entities as it were anyway) and truly get with the program?

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Through all of your campaign Mr. Obama, you have stood as a real beacon of change for this nation. Fortunately, those with a level head, a belief in how great this country can and should be and the passion to try and get us back on the right track prevailed and elected you to office. It was a very proud day for this nation, and it deeply touched me that we did the right thing in electing you. voting with our hearts and heads, and not from a place of fear or hopelessness, as the Republican ticket wanted us to do.

For myself, I believe that while it will be a very long and hard road to complete the changes you envision, it will be done in a slow and precise way, which will create a better future for all of us here in the US and abroad.

I have read your plans on changing the taxation levels for Americans, and I agree that the upper 10% need to pay their fair share, along with the lower income brackets. However, have you considered doing something that had the potential to  shore up our economy and possibly help everything that has slid so far into this coming depression?

If you truly want to help the middle and lower income families in the US to survive the recent economic disaster of failing banks and credit institutions, please consider abolishing the Federal Income Tax for a two year period, while this country recovers.

The most recent attempts to put band aids on the economy in the form of “free money” with Bush’s incentive to spend plans have not worked, for obvious reasons. Many people like myself just put that money towards our income tax payments or mortgage payments that we are increasingly finding harder to meet each month any way.

By abolishing the Federal Income Tax for a brief period, you would be returning direct money to those who are suffering the most, and even those that make a quarter of a million or more each year, would have the ability to put their money into the stock market, the banks and lenders, and even potentially into new businesses and create new jobs which would truly help to turn this country around in a very short period of time, compared to what the situation is right now.

I know that this nation survives on the taxes it collects. Right or wrong, that is the way it has been for hundreds of years. But at this time in our history, maybe the money that the citizens are earning from their own, individual, hard work should be allowed to shore up the individual, which will keep this nation stronger in the long run.

I have always been proud to pay my income tax… it meant that I was doing well if I didn’t get anything back, or had to pay more from my business income. However, even with pre-payments and taxes withheld from my second job, it may mean paying my income tax this year could cause me to lose my home.

You can say that was poor planning on my part, and I would say honestly it wasn’t in my ability to do more, and I had to pay my income taxes on my credit card to meet the deadlines, just as I had to pay my taxes on a credit card last year, even though I spent almost as much as I earned, I still owed taxes!  “Self employment taxes” of all things! With the price of gasoline, food, state and local taxes, interest rates and an assortment of other things that the average US citizen is dealing with and has been dealing with for the past 8 years, I didn’t have much of a choice. I am not alone in this predicament, I know of more than 100 people just in my five mile radius that are facing the same thing.

Oh – don’t worry – we will pay our taxes. We will be honest. We will try and tell ourselves that we are helping our nation. But the truth is that helping our nation may well ruin us individually. I guess that will be the legacy of the last 8 years of the Bush administration, and the beginning of your own legacy…. Bailing out the corporations that caused a lot of this mess, while the individual citizenry struggles and fails to survive individually, while providing the money that is needed to bail those companies out in the first place.

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