Massachusetts tax holiday Aug. 14-15
Tax Carnival #73: Summer Dog Days 2010

Implicit support for continuation of the first-time homebuyer credit?

Former Federal Reserve chairman Alan Greenspan said on a Sunday-morning television news program that if home prices go down, the U.S. economy could be in for a double-dip recession.

For heavens' sake, please don't let this be the first volley in the next homebuyer tax credit battle!

The first-time-buyer-plus tax credit has simply postponed the inevitable bottoming out of the housing industry. The credit is now set to end Sept. 30.

Let that happen and let the housing market find its own, more realistic footing.

Haven't we learned enough from this current tax break, as well as from earlier homeowner tax law changes that might have helped produce our latest housing bubble in the first place?

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