Blagnet.net

MSN’s class-warfare-mongering

On MSN.com today, the link to an article in their “Money” section read, “New tax break helps the richest.” Um, isn’t that another way of saying, “New tax break helps the people who pay the taxes”? The article is about a tax break on mortgage renegotiations and foreclosures that will end up helping wealthy Americans more than middle- and lower-class ones, so it isn’t a progressive-income-tax break like I assumed. Unfortunately, I am not qualified to comment on the economics or policies in the housing market (yet), so I guess I’ll just stick to criticizing MSN and its author for their dumb utilization of envious class-warfare tactics. However, I should commend him for informing the world that “the law makes as much as $2 million in debt relief tax-free. That’s way too much.” Well, thank you for that principled economic assessment! It’s a good thing you know how much of their money people should be allowed to keep, because without wise pundits and policymakers like you, there would exist all kinds of undesirable situations in every aspect of the chaotic capitalist economy—why, such as the housing market!