Wednesday, February 18, 2009

My Rant

I have written my congressmen and my senator today and I am so angry that I am using my blog as a venting outlet. If you aren't interested in this kind of rant then check back another day for more moving pictures.

I find it offensive that Oliver and I do not qualify for the first-time homebuyer’s tax credit because we have chosen to be married. Before we were married I bought our townhouse and now, in my husband’s name only (and he has never owned a home), we are buying our first single family home. We have been married a year and because we chose to be married and not just co-habitate, we are being punished. Similarly, this is unfair in that lesbian and gay couples qualify for the credit and we don't. Why are we being punished for choosing marriage? Why are we being punished for choosing to love and marry as spouses? What is wrong with our society and what it values?

I also think that the tax-credit should have to be repaid! How does it benefit the majority of people that I know who bought homes when they could afford them and love where they live and don't need to move or don't want to and wouldn't qualify even if they did. Oliver and I would love the tax credit to be able to buy the appliances, finish the yard, put in the carpet and paint but we also feel that we should repay the money borrowed from the government because why should my unborn children pay for people to buy a home? And why are our children paying for years and years and years to come to make bad choices?

I also find it maddening that some people we know bought their home and then a few years later re-financed, took out more than $150,000 cash to buy a boat, car, furniture, finish the basement, etc and spent it all. Then, the government came in to save them from their poor choices and living in a home they couldn't afford and forgave more than $100,000 of their principle balance. They didn't have to give back any of their toys, and my tax dollars are paying for their fun toys and for all the cash they spent and their bad choice. Is that what the law is designed to do? Ridiculous!

Here is the quote of the description of the bill answering the question what is a first-time home buyer: For example, if you have not owned a home in the past three years but your spouse has owned a principal residence, neither you nor your spouse qualifies for the first-time home buyer tax credit. However, unmarried joint purchasers may allocate the credit amount to any buyer who qualifies as a first-time buyer, such as may occur if a parent jointly purchases a home with a son or daughter. Ownership of a vacation home or rental property not used as a principal residence does not disqualify a buyer as a first-time home buyer.

And here is the website for more information: http://www.federalhousingtaxcredit.com/2009/home2.html

3 comments:

Deidre said...

Frustrating! I've come across things like this too and it is maddening. I won't get into it here but yeah. People who have a stable cohabitation relationship seem to have more tax and other benefits than married couples. Makes no sense.

Charity said...

ooh frustrating. and quite messed up.

The Garber Family said...

That is so FRUSTRATING!