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Home buyer tax credit isnt needed
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Dear Editor,

Do we need a home buyer tax credit?
Politically incorrect however it may sound, there should be no home buyer tax credit. Picture this: some first-time home buyer with marginal credit qualifies for a FHA loan with a 3.5 percent down payment. He can even borrow this down payment from family so he does not have to have saved it on his own. 
Then through the $8,000 tax credit (paid for with taxpayers’ money) the new homeowner is basically reimbursed for his down payment. In the end, he got the house with no money down just like during the sub-prime mania when everyone qualified for 100 percent financing. It is well known that when something is given to us for free, we don’t appreciate its value. 
1. One must earn it first, and…
2. He should pay for his own down payment instead of having the taxpayers pay for it.
All it does, this tax credit, is lead the way to another bailout, the FHA bailout. Don’t we have enough bailouts by now?
If we are to go back to the basics of free market capitalism (the only way for a healthy economic future) then the Socialist way of taking “the village to raise a child” concept must disappear from society. We need to promote self-sufficiency rather than government dependency. 

Carmen Alexe