Schools, not homebuyer incentives

Re: 'California expands $10K buyer tax credit' (March 25)

Dear Editor:

The failure of all of the house rescue plans, both federal and state, lies in the misbelief that government can correct an imbalance by allocating funds to a "special interest" group. It cannot, and basic economics (if understood and followed) tells us that this will create further imbalances on a never-ending downward spiral, until subsidies are given to all (or to none, which is preferable)!

Now, the broke state of California adds itself to the list of ignoramuses, spending money it doesn't have to correct a problem it has no business meddling in. I agree with an earlier writer: Put the money into schools.

Let the federal bankruptcy code handle the banks and homeowners the way it was designed to do. Put the money into schools and productive, long-term endeavors!

Ron Alpert
First Nations
Escondido Calif.

***

What's your opinion? Leave your comments below or send a letter to the editor.

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.