Reverse mortgages are designed as financial assistance for people 62 years or older. The reverse mortgage works by allowing the homeowner access to the equity in their home without the issues of a monthly payment for the available funds.
The Federal reserve acts indepently of politics so their decision was based on keeping the economy going forward. They said clearly that congress needed to act and they haven't .
you dont earn any interest and you dont pay any either.
________________________
Well, it's true that interest rates are very low for some things. Like for people still in good enough shape to get a mortgage on a home that's still selling for almost-rock bottom prices still.
But for all but those with the highest credit scores, credit cards are still around 25%. Which is not exactly what I'd call "not paying any interest." True, those in a financial position to pay off their balances every month are not paying interest, but far too many people don't do that.
I have a great idea. Let's give money to the wealthy because they will trickle down the wealth to everyone else. Yeah right. Truth is if you don't learn from your mistakes your destined to repeat them. Or also called stuck on stupid.
Are there any of us left from Nixon/Ford/Carter price controls? You can't have a war(s) and pay for bread and butter at the same time. I guess QE3 is to damper the inflation.....
Obama and the Democrats are following policies that hurt senior citizens. Those of us responsible enough to prepare for retirement are getting screwed:
1 He wants to reduce the amount of money going into Social Security by cutting the payroll tax. There would be some smoke and mirrors going on to make it look like there would still be the same amount of money going to the SS account, but that's all it is - smoke and mirrors.
2 Getting nothing (no interest) on our short term savings, CDs and money market accounts.
3 Seeing half a Trillion being removed from Medicare to pay for the uninsured (from cuts in payments to essentially every Medicare provider — hospitals, hospices, nurses, etc. - this will have to be made up elsewhere).
4 He wants to tax us more when we sell some stock or mutual funds that we bought years ago for our retirement. 5 The interest sensitive parts of pension funds are taking huge hits because of the low long term interest rates being introduced.
Obama and the Democrats have declared war on responsible seniors so they can continue to give handouts to the welfare crowd.
this is rich we get a tax break and a right winger complains. the right wing hypoicrisy never ends you dont earn any interest and you dont pay any either. For a further point on interest rates see your felloow right winger's post on the fed below. which way is it you birdbrain keep circulating the lie about medicare. Nothing will be taken away from benefits...it will all be gained from eliminating overcharge which is tantamount to fraud on the supplier's side. But dont let a good idea get by because it wasnt from the right. this is the same thing the republicans wanted earlier but now the hypocrites oppose it because Obama likes it too. the only folks he wants to tax more on stock eetc aare those making over 250,000 a year . is that you poor baby? and when did right wingers start caring about pension funds. Thats union blasphemy. The hypocrisy never ends on the right
1. Cutting payroll tax is the only correct way to cut tax on working people. That would create jobs by creating sales. Jobs are created when consumers buy. So far income tax cuts generally go to more well to do Americans. $100 earned by a low or middle income American create more jobs than $100 earned by a wealthy American because wealthy American spends some of the money out of the country. 2. You are 100% correct there. 3. Obama's cut from Medicare does not cut Medicare recipient's benefit. He cuts payments to insurance companies, pharmaceutical companies by allowing drug price negotiations, hospitals etc. Ryan's cut to Medicare does indeed cut benefits of Medicare recipients. 4. Obama doesn't want to tax us more unless we are making more than $200,000(individual) or $250,000(family). 5. Pension one gets is generally fixed and does not depend on interest rate. Any senior who has a 401K account is doing extremely well because market has advanced far ahead of its peak before the recession. Obama and the Democrats are not making war to responsible seniors. They are actually declaring war on welfare crowds like big business and wealthy Americans who not only get huge tax breaks but also pay no tax or almost no tax regardless of how much profit they make. Welfare to the needy and poor will likely continues but that amounts to only a small fraction of what's given to big business and the wealthy.
What happened to a time when seniors were supposed to be the wise ones. Now they just a bunch of blithering idiots listening to the Fox opinion channel.
holysht we cant have economy improving not before the election we have made the middle class suffer this long surely they can suffer a few more months until we can get rid of Obama good luck with that you right wing pigs
If the Fed really wants to "directly stimulate" the economy, I've got a suggestion. Just cut a check to everybody who filed a tax return last year,& made less than 3 times median income, for 100,000 $$, tax free. Inflationary? Can't be any more inflationary than pumping a Trillion + $$ hot off the printing presses into the economy every year to cover the deficit. The smartest ones will pay down/off debt & everyone will have money to spend. People spending money creates demand. Demand creates production. In order to produce companies will have to hire to meet the increased demand for products & services. More people working means more tax $$ collected & less tax $$ spent on long-term unemployment benefits and "safety nets". A win-win situation and the real bonus for me is that I could pay off all of my debts & still have most of it left. :) So, let's get the Fed in gear & cutting those checks.
And for those of you who wish to take me to task for "not understanding economics" this suggestion is no sillier & has a lot more potential for success than many that have come out of D.C.
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you dont earn any interest and you dont pay any either.
________________________
Well, it's true that interest rates are very low for some things. Like for people still in good enough shape to get a mortgage on a home that's still selling for almost-rock bottom prices still.
But for all but those with the highest credit scores, credit cards are still around 25%. Which is not exactly what I'd call "not paying any interest." True, those in a financial position to pay off their balances every month are not paying interest, but far too many people don't do that.
1 He wants to reduce the amount of money going into Social Security by cutting the payroll tax. There would be some smoke and mirrors going on to make it look like there would still be the same amount of money going to the SS account, but that's all it is - smoke and mirrors.
2 Getting nothing (no interest) on our short term savings, CDs and money market accounts.
3 Seeing half a Trillion being removed from Medicare to pay for the uninsured (from cuts in payments to essentially every Medicare provider — hospitals, hospices, nurses, etc. - this will have to be made up elsewhere).
4 He wants to tax us more when we sell some stock or mutual funds that we bought years ago for our retirement.
5 The interest sensitive parts of pension funds are taking huge hits because of the low long term interest rates being introduced.
Obama and the Democrats have declared war on responsible seniors so they can continue to give handouts to the welfare crowd.
we get a tax break and a right winger complains. the right wing hypoicrisy never ends
you dont earn any interest and you dont pay any either. For a further point on interest rates see your felloow right winger's post on the fed below. which way is it you birdbrain
keep circulating the lie about medicare. Nothing will be taken away from benefits...it will all be gained from eliminating overcharge which is tantamount to fraud on the supplier's side. But dont let a good idea get by because it wasnt from the right. this is the same thing the republicans wanted earlier but now the hypocrites oppose it because Obama likes it too.
the only folks he wants to tax more on stock eetc aare those making over 250,000 a year . is that you poor baby?
and when did right wingers start caring about pension funds. Thats union blasphemy. The hypocrisy never ends on the right
2. You are 100% correct there.
3. Obama's cut from Medicare does not cut Medicare recipient's benefit. He cuts payments to insurance companies, pharmaceutical companies by allowing drug price negotiations, hospitals etc. Ryan's cut to Medicare does indeed cut benefits of Medicare recipients.
4. Obama doesn't want to tax us more unless we are making more than $200,000(individual) or $250,000(family).
5. Pension one gets is generally fixed and does not depend on interest rate. Any senior who has a 401K account is doing extremely well because market has advanced far ahead of its peak before the recession.
Obama and the Democrats are not making war to responsible seniors. They are actually declaring war on welfare crowds like big business and wealthy Americans who not only get huge tax breaks but also pay no tax or almost no tax regardless of how much profit they make. Welfare to the needy and poor will likely continues but that amounts to only a small fraction of what's given to big business and the wealthy.
we cant have economy improving
not before the election
we have made the middle class suffer this long
surely they can suffer a few more months until we can get rid of Obama
good luck with that you right wing pigs
And for those of you who wish to take me to task for "not understanding economics" this suggestion is no sillier & has a lot more potential for success than many that have come out of D.C.