Minor Thoughts from me to you

Sometimes the federal government is unusually annoying. This is one of those times.

Efforts to create new tax breaks to encourage home purchases are gaining attention on Capitol Hill, as lawmakers gird for a major debate this spring on how best to shore up the nation's troubled mortgage markets.

Some Democrats, among them Michigan Sen. Debbie Stabenow, have signaled support for expanded tax benefits. And the idea is proving especially popular among Senate Republicans, who are hoping to carve a distinct role as Congress takes up housing issues and often find tax cuts an appealing option. The discussions reflect a growing sense that the housing, mortgage and credit mess may require more expansive federal government action.

"The momentum on this thing has been good," said Sen. Johnny Isakson, a Georgia Republican. Sen. Isakson, a former realtor, is pushing a proposal that would provide a temporary tax credit to any individual purchasing a newly constructed house or a foreclosed home.

First, it's little surprise that a "former realtor" would want to help his friends in the biz by giving people more incentive to buy and sell houses. After all, realtors get a 6% cut nearly every time a house moves. Way to look out for #1 there, Senator. (This blog supported his primary opponent, Herman Cain, for the Senate. It's gratifying to see how right we were.)

Second, when have the feds ever seen a crisis that didn't "require more expansive federal government action"?

Thirdly, this proposal is flat out discriminatory. It prefers new homes to existing homes. It benefits banks stunk with foreclosed homes over homeowners who simply want to sell their house. It's a giveaway to home builders and banks. It's a slap in the face to responsible home owners. It stinks to the high heavens.