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: Mortgage Lender Implode-o-Meter

What kind of Socialism?

By Implode-Explode Heavy Industries

``Have Real Estate industry subsidies been good for the country? No, they've been a disaster. It's time to roll them back... Since the 1920s, the tax burden in the US has shifted from 80% on FIRE Economy industries and 20% on Productive Economy industries to the other way around. The tax cuts were only one of a long list of government subsidies to the Real Estate industry that has distorted our economy and pushed us to the edge of ruin. Another is the mortgage interest deduction, a tax on renters. Another is two now 100% nationalized banks, Fannie Mae and Freddie Mac that now buy 90% of all home mortgages in the secondary market.''

Full post as published by Mortgage Lender Implode-o-Meter on September 20, 2010 (boomark / email).