Wednesday Open Comments

Terry Paulson has an interesting article on the RightNetwork. It is chock full of wisdom of our fathers, quotes to make you think: Reading this article, I was amazed and dismayed by how far we have diverged from the path which our Founding Fathers had planned for us. The opening paragraph is shocking not for any graphic content or vulgar language, but for the complete acceptance of a lesser condition:

I remember a black physician who shared his own frustration at hearing a young mother on welfare point to her caseworker and say to her child, “That is my case worker. Someday, you’ll have one, too.” Is that now the American Dream?

I go to the grocery store and see the people with their state-funded welfare cards, and it’s not just mothers with children or old folks. I see grown women with grown daughters swiping my tax dollars. I don’t begrudge food to those who need it, but I feel sad for the people who have lost a vision of taking care of themselves, and even more sad for the generations who are raised knowing nothing better, of not having the dignity of being in control of their own lives. Those able-bodied slaves of the state do not realize that they are stealing from the rest of us. They simply do not think of it.

He also had a warning: “I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them.”

Unfortunately, America has steadily been drifting from the Constitutional grounding our Founding Fathers established. What started with FDR’s New Deal has now blossomed into a nanny state where our Constitutional rights have been transformed into extensive entitlements.

Not only do they not think of it, it becomes a perceived right:

Columnist Walter Williams has written on the difference between rights and wishes. He asserts: “A right confers no obligation on another. For example, the right to free speech is something we all possess. My right to free speech imposes no obligation upon another except that of non-interference. … Contrast those rights to the supposed right to decent housing or medical care. Those supposed rights do confer obligations upon others. There is no Santa Claus or Tooth Fairy. …Your right to decent housing and medical care requires that some other American have less of something else, namely diminished rights to his earnings.”

And by forcing me to hand over my earned dollars to a nanny state to give to the “needy,” my right and my privilege to contribute to charity is taken away, also.  But then, to paraphrase a very popular former president, when asked if a certain tax cut would be given to the people, “we don’t know if you’ll spend it right”.    Excuse me, sir, but they are my dollars to do with as I please, and if I want to feed a hungry child or go skydiving, it is my right. I do know that I, personally, would donate more to charities I feel comfortable with, if I had more to donate.

This is not to say that helping our neighbor is not a personal moral imperative most Americans feel. In 1835, Alexis de Tocqueville wrote his acclaimed and often quoted Democracy in America in which he praised America and its democratic ideals. Although noting the dangers of individualism, he praised how America was able to balance liberty and equality. He was impressed with America’s self-governing local communities based on self-reliance and mutual cooperation. Tocqueville attributed America’s entrepreneurial spirit that he witnessed to the practice of limited government, but he warned, “The American Republic will endure until the day Congress discovers that it can bribe the public with the public’s money.”

Read the whole thing. Then weep for what we’ve lost, and regain the determination to get it back.


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91 responses to “Wednesday Open Comments”

  1. texanadian Avatar
    texanadian

    Mornin’ Gang
    We’re early today. 😉

  2. Super Dave Avatar
    Super Dave

    Mornin’ Gang
    We’re early today. 😉

  3. Adee Avatar
    Adee

    Good morning all. Warm 54 at 6, ground fog spreading a bit of needed moisture.
    Am off to the orthopedist this morning, have great hopes of ditching the splint and wrap and starting on therapy. Spouse replaced the top wrap with green Vetrap on Saturday so I am seasonally festive. Be interesting to see the doc’s reaction.
    Later

  4. Adee Avatar
    Adee

    Good morning all. Warm 54 at 6, ground fog spreading a bit of needed moisture.
    Am off to the orthopedist this morning, have great hopes of ditching the splint and wrap and starting on therapy. Spouse replaced the top wrap with green Vetrap on Saturday so I am seasonally festive. Be interesting to see the doc’s reaction.
    Later

  5. Hamous Avatar

    What has happened in our country has happened in most long lived organizations; the longer they are in existence the greater the likelihood that they will stray from their mission. In the beginning, just a little variance does not much matter, for example when shooting a rifle at a target 50 yards away if the muzzle moves a little “off point of aim” the point of impact will not change dramatically because the bullet does not have enough time/distance to move very far off line. Take the same rifle and shoot at a target 500 yards away and that same little movement of the muzzle will move the point of impact off the paper; you will miss the target completely. Apply the analogy to our government; when we first started we were diligent to not move the muzzle (original intent of the founders); as time went by we got a little fuzzy about original intent and the muzzle moved – our point of aim has been compromised. Now when we multiply the muzzle movement over time, 150 years or so, we have a right to healthcare or a right to ‘affordable’ housing, or whatever the latest liberal, busybody, feel-good, bravo sierra is in vogue these days. The bullet is no longer hitting the paper of our founders original intent and our country is going down the tubes because of a lack of precision and focus. We need to re-set and get back to strictly constitutional basics as originally intended. That would include expelling federal judges that rule that someone has a “right” to my money to make it “fair”. What is mine is mine and what is yours is yours. If I choose to share/give my money away that is my choice and no one else’s, that is what compassion is – when I choose to share what I have. When the gov’t takes it away from me by force (and it is by force, just try to not pay your taxes and see what happens) it is no longer compassion it is extortion.

  6. Bonecrusher Avatar
    Bonecrusher

    What has happened in our country has happened in most long lived organizations; the longer they are in existence the greater the likelihood that they will stray from their mission. In the beginning, just a little variance does not much matter, for example when shooting a rifle at a target 50 yards away if the muzzle moves a little “off point of aim” the point of impact will not change dramatically because the bullet does not have enough time/distance to move very far off line. Take the same rifle and shoot at a target 500 yards away and that same little movement of the muzzle will move the point of impact off the paper; you will miss the target completely. Apply the analogy to our government; when we first started we were diligent to not move the muzzle (original intent of the founders); as time went by we got a little fuzzy about original intent and the muzzle moved – our point of aim has been compromised. Now when we multiply the muzzle movement over time, 150 years or so, we have a right to healthcare or a right to ‘affordable’ housing, or whatever the latest liberal, busybody, feel-good, bravo sierra is in vogue these days. The bullet is no longer hitting the paper of our founders original intent and our country is going down the tubes because of a lack of precision and focus. We need to re-set and get back to strictly constitutional basics as originally intended. That would include expelling federal judges that rule that someone has a “right” to my money to make it “fair”. What is mine is mine and what is yours is yours. If I choose to share/give my money away that is my choice and no one else’s, that is what compassion is – when I choose to share what I have. When the gov’t takes it away from me by force (and it is by force, just try to not pay your taxes and see what happens) it is no longer compassion it is extortion.

  7. El Gordo Avatar

    Good analogy, Bonecrusher. We’re suffering figurative azimuth error.

  8. Dude42 Avatar

    Good analogy, Bonecrusher. We’re suffering figurative azimuth error.

  9. Super Dave Avatar
    Super Dave

    Think about it this way. The recipients like the idea of something for nothing and are more than happy to give up “freedoms” that they’ve never experienced anyway. Our politicians figured out very early on how to use the treasury to buy votes. Our friends think that if it works for us, why not try it at home – maybe it will help us “all get along” better. Our enemies know that we are destroying ourselves and rotting from within, so they are more than happy to help by funding the very programs our politicians brag about providing. One day we will all wake up and say “what happened” – sort of like we did on November 3, 2008, except we may not understand the language being used to direct us through the “transition.”

  10. El Gordo Avatar

    Think about it this way. The recipients like the idea of something for nothing and are more than happy to give up “freedoms” that they’ve never experienced anyway. Our politicians figured out very early on how to use the treasury to buy votes. Our friends think that if it works for us, why not try it at home – maybe it will help us “all get along” better. Our enemies know that we are destroying ourselves and rotting from within, so they are more than happy to help by funding the very programs our politicians brag about providing. One day we will all wake up and say “what happened” – sort of like we did on November 3, 2008, except we may not understand the language being used to direct us through the “transition.”

  11. OletimerLin Avatar
    OletimerLin

    Christopher Hitchens’ health may be failing and his hair falling, but his brain continues to work just fine as he picks on poor little Genn Beck in this Vanity Fair piece.

    Glenn Beck has not even been encouraging his audiences to reread Robert Welch. No, he has been inciting them to read the work of W. Cleon Skousen, a man more insane and nasty than Welch and a figure so extreme that ultimately even the Birch-supporting leadership of the Mormon Church had to distance itself from him. It’s from Skousen’s demented screed The Five Thousand Year Leap (to a new edition of which Beck wrote a foreword, and which he shoved to the position of No. 1 on Amazon) that he takes all his fantasies about a divinely written Constitution, a conspiratorial secret government, and a future apocalypse.
    – – –
    Most epochs are defined by one or another anxiety. More important, though, is the form which that anxiety takes. Millions of Americans are currently worried about two things that are, in their minds, emotionally related. The first of these is the prospect that white people will no longer be the majority in this country, and the second is that the United States will be just one among many world powers. This is by no means purely a “racial” matter. (In my experience, black Americans are quite concerned that “Hispanic” immigration will relegate them, too.) Having an honest and open discussion about all this is not just a high priority. It’s more like a matter of social and political survival. But the Beck-Skousen faction want to make such a debate impossible. They need and want to sublimate the anxiety into hysteria and paranoia. The president is a Kenyan. The president is a secret Muslim. The president (why not?—after all, every little bit helps) is the unacknowledged love child of Malcolm X. And this is their response to the election of an extremely moderate half-African American candidate, who speaks better English than most and who has a model family. Revolted by this development, huge numbers of white people choose to demonstrate their independence and superiority by putting themselves eagerly at the disposal of a tear-stained semi-literate shock jock, and by repeating his list of lies and defamations.

    Ease up Hitch! Nobody wants to see Glenn Beck (or John Boehner) cry again.

  12. bob42 Avatar

    Christopher Hitchens’ health may be failing and his hair falling, but his brain continues to work just fine as he picks on poor little Genn Beck in this Vanity Fair piece.

    Glenn Beck has not even been encouraging his audiences to reread Robert Welch. No, he has been inciting them to read the work of W. Cleon Skousen, a man more insane and nasty than Welch and a figure so extreme that ultimately even the Birch-supporting leadership of the Mormon Church had to distance itself from him. It’s from Skousen’s demented screed The Five Thousand Year Leap (to a new edition of which Beck wrote a foreword, and which he shoved to the position of No. 1 on Amazon) that he takes all his fantasies about a divinely written Constitution, a conspiratorial secret government, and a future apocalypse.
    – – –
    Most epochs are defined by one or another anxiety. More important, though, is the form which that anxiety takes. Millions of Americans are currently worried about two things that are, in their minds, emotionally related. The first of these is the prospect that white people will no longer be the majority in this country, and the second is that the United States will be just one among many world powers. This is by no means purely a “racial” matter. (In my experience, black Americans are quite concerned that “Hispanic” immigration will relegate them, too.) Having an honest and open discussion about all this is not just a high priority. It’s more like a matter of social and political survival. But the Beck-Skousen faction want to make such a debate impossible. They need and want to sublimate the anxiety into hysteria and paranoia. The president is a Kenyan. The president is a secret Muslim. The president (why not?—after all, every little bit helps) is the unacknowledged love child of Malcolm X. And this is their response to the election of an extremely moderate half-African American candidate, who speaks better English than most and who has a model family. Revolted by this development, huge numbers of white people choose to demonstrate their independence and superiority by putting themselves eagerly at the disposal of a tear-stained semi-literate shock jock, and by repeating his list of lies and defamations.

    Ease up Hitch! Nobody wants to see Glenn Beck (or John Boehner) cry again.

  13. El Gordo Avatar

    Millions of Americans are currently worried about two things that are, in their minds, emotionally related. The first of these is the prospect that white people will no longer be the majority in this country, and the second is that the United States will be just one among many world powers.

    That is among the most intellectually lazy assessment of the concerns of “millions of Americans” I have read.

  14. Dude42 Avatar

    Millions of Americans are currently worried about two things that are, in their minds, emotionally related. The first of these is the prospect that white people will no longer be the majority in this country, and the second is that the United States will be just one among many world powers.

    That is among the most intellectually lazy assessment of the concerns of “millions of Americans” I have read.

  15. Adee Avatar
    Adee

    Back again minus the splint/wrap and two sets of stitches. Green Vetwrap is a thing of the past–on me anyhow. A soft elastic sleeve replaces everything, to be worn day and night for two weeks, except while bathing, and at night only for two more.. A spare was included. Easy at-home therapy instructions provided. Can’t miss seeing the wrist incision, which does not look gross. Can’t see the elbow incision (since it’s on the bottom), and I have no interest right now in looking at it in the mirror. Whee, now free to dive into the rest of the Christmas preparations.

    And also the melt the phone lines to DC.

  16. Adee Avatar
    Adee

    Back again minus the splint/wrap and two sets of stitches. Green Vetwrap is a thing of the past–on me anyhow. A soft elastic sleeve replaces everything, to be worn day and night for two weeks, except while bathing, and at night only for two more.. A spare was included. Easy at-home therapy instructions provided. Can’t miss seeing the wrist incision, which does not look gross. Can’t see the elbow incision (since it’s on the bottom), and I have no interest right now in looking at it in the mirror. Whee, now free to dive into the rest of the Christmas preparations.

    And also the melt the phone lines to DC.

  17. Hamous Avatar

    Christopher Hitchens may in fact be a great literary talent; that does not change my opinion of him in this article that he is full of sh!t.

    They need and want to sublimate the anxiety into hysteria and paranoia. The president is a Kenyan. The president is a secret Muslim. The president (why not?—after all, every little bit helps) is the unacknowledged love child of Malcolm X. And this is their response to the election of an extremely moderate half-African American candidate, who speaks better English than most and who has a model family. Revolted by this development, huge numbers of white people choose to demonstrate their independence and superiority by putting themselves eagerly at the disposal of a tear-stained semi-literate shock jock, and by repeating his list of lies and defamations.

    1) If the president were not a Kenyan or had some other compelling reason to spend millions of dollars to hide his birth certificate, college admission records, passport records, etc, why then would he do it?? To give “the birfers” something to gripe about is not a rational reason for such behavior.
    2) The president, by his behavior, demonstrates far more “affinity” towards the moooooslims than he does to Christians or Jews. Is it really such a stretch to assume that he really is a moooslim, seeing as how that was what was listed on his school documents in Indonesia??
    3) This is the first time I have seen him referred to as Malcolm x’s love child. This demonstrates more BS on the part of Hitchens.
    4) Extremely moderate?!?! Are you wissin’ kidding me; he is the most extreme lefty moonbat wack-terd this country has ever seen.
    5) The fact that he is of partial Negro descent is absolutely irrelevant! There is not a single credible conservative that places any value, positive or negative, on his racial make-up. This is more race baiting crap from the left that does not apply to the right or those who oppose the president’s policies. This kind of race baiting is the metaphorical equivalent of the drowning man grasping at straws; the left has been exposed and they are on the way out and there is nothing they can do about it.

    The American patriot, the common man has rejected liberalism and the elitists can’t take it so they are pulling out all the stops. The American patriots have exposed the left as the whining little beyotches they are.

  18. Bonecrusher Avatar
    Bonecrusher

    Christopher Hitchens may in fact be a great literary talent; that does not change my opinion of him in this article that he is full of sh!t.

    They need and want to sublimate the anxiety into hysteria and paranoia. The president is a Kenyan. The president is a secret Muslim. The president (why not?—after all, every little bit helps) is the unacknowledged love child of Malcolm X. And this is their response to the election of an extremely moderate half-African American candidate, who speaks better English than most and who has a model family. Revolted by this development, huge numbers of white people choose to demonstrate their independence and superiority by putting themselves eagerly at the disposal of a tear-stained semi-literate shock jock, and by repeating his list of lies and defamations.

    1) If the president were not a Kenyan or had some other compelling reason to spend millions of dollars to hide his birth certificate, college admission records, passport records, etc, why then would he do it?? To give “the birfers” something to gripe about is not a rational reason for such behavior.
    2) The president, by his behavior, demonstrates far more “affinity” towards the moooooslims than he does to Christians or Jews. Is it really such a stretch to assume that he really is a moooslim, seeing as how that was what was listed on his school documents in Indonesia??
    3) This is the first time I have seen him referred to as Malcolm x’s love child. This demonstrates more BS on the part of Hitchens.
    4) Extremely moderate?!?! Are you wissin’ kidding me; he is the most extreme lefty moonbat wack-terd this country has ever seen.
    5) The fact that he is of partial Negro descent is absolutely irrelevant! There is not a single credible conservative that places any value, positive or negative, on his racial make-up. This is more race baiting crap from the left that does not apply to the right or those who oppose the president’s policies. This kind of race baiting is the metaphorical equivalent of the drowning man grasping at straws; the left has been exposed and they are on the way out and there is nothing they can do about it.

    The American patriot, the common man has rejected liberalism and the elitists can’t take it so they are pulling out all the stops. The American patriots have exposed the left as the whining little beyotches they are.

  19. Tedtam Avatar

    I’ve never liked Hitchens.

  20. Tedtam Avatar

    I’ve never liked Hitchens.

  21. El Gordo Avatar

    Got a question for you financially astute types (or anyone who knows the answer for that matter):

    I’m going to pay my mortgage off in 2011, probably about mid year. Currently part of my payments go into escrow to handle taxes, homeowner’s insurance, etc. Considering that those bills will be due after my projected payoff date in 2011 though, do I have to continue paying into escrow? My thought is to pay more directly on the principal owed rather than having part of my payments go towards escrow (which the bank would have to turn around and repay to me upon payoff anyway). Any thoughts on the good, bad or potentially ugly of this approach?

  22. Dude42 Avatar

    Got a question for you financially astute types (or anyone who knows the answer for that matter):

    I’m going to pay my mortgage off in 2011, probably about mid year. Currently part of my payments go into escrow to handle taxes, homeowner’s insurance, etc. Considering that those bills will be due after my projected payoff date in 2011 though, do I have to continue paying into escrow? My thought is to pay more directly on the principal owed rather than having part of my payments go towards escrow (which the bank would have to turn around and repay to me upon payoff anyway). Any thoughts on the good, bad or potentially ugly of this approach?

  23. Katfish Avatar

    I suppose if you’re gonna break your neck falling out of a ceiling, this idiot picked one of the better places.

  24. wagonburner Avatar
    wagonburner

    I suppose if you’re gonna break your neck falling out of a ceiling, this idiot picked one of the better places.

  25. OletimerLin Avatar
    OletimerLin

    It’s Wednesday.

    To poke chop or not to poke chop. That is the question.

    Stupid question.

  26. bob42 Avatar

    It’s Wednesday.

    To poke chop or not to poke chop. That is the question.

    Stupid question.

  27. Katfish Avatar

    #11 dude
    Short answer: when your mortgage goes away, so does the escrow account. You should get a refund of any unspent money in your escrow account when you pay off the loan (may take a couple of months…). You’re gonna have to start putting money aside on your own to pay your property taxes. You also will need to notify the various taxing authorities of your change in status so they send the bills to you in December.

  28. wagonburner Avatar
    wagonburner

    #11 dude
    Short answer: when your mortgage goes away, so does the escrow account. You should get a refund of any unspent money in your escrow account when you pay off the loan (may take a couple of months…). You’re gonna have to start putting money aside on your own to pay your property taxes. You also will need to notify the various taxing authorities of your change in status so they send the bills to you in December.

  29. El Gordo Avatar

    when your mortgage goes away, so does the escrow account. You should get a refund of any unspent money in your escrow account when you pay off the loan (may take a couple of months…).

    Understood completely. I guess my question is more along the lines of: “do I have a legal obligation to continue funding escrow in an existing mortgage up to the bitter end, or can I opt out of it to hasten payoff?”.

    And yes, this is a very good point:

    You’re gonna have to start putting money aside on your own to pay your property taxes.

    Even putting money back monthly after payoff to take care of taxes, etc. I will still be coming out ahead as compared to part of my monthly payments going to escrow, no?

  30. Dude42 Avatar

    when your mortgage goes away, so does the escrow account. You should get a refund of any unspent money in your escrow account when you pay off the loan (may take a couple of months…).

    Understood completely. I guess my question is more along the lines of: “do I have a legal obligation to continue funding escrow in an existing mortgage up to the bitter end, or can I opt out of it to hasten payoff?”.

    And yes, this is a very good point:

    You’re gonna have to start putting money aside on your own to pay your property taxes.

    Even putting money back monthly after payoff to take care of taxes, etc. I will still be coming out ahead as compared to part of my monthly payments going to escrow, no?

  31. meglettx Avatar

    Dud, I assume you have enough existing equity(used to be 20% minimum requirement) in your home to forego the entire escrow process. Contact your lender now and request to begin paying your property taxes and insurance directly in 2011.

  32. Lawrence Avatar
    Lawrence

    Dud, I assume you have enough existing equity(used to be 20% minimum requirement) in your home to forego the entire escrow process. Contact your lender now and request to begin paying your property taxes and insurance directly in 2011.

  33. wagonburner Avatar
    wagonburner

    do I have a legal obligation to continue funding escrow in an existing mortgage up to the bitter end

    Unless you can get the mortgage holder to release you, yes you have to continue to fund it. I tried to get mine to release me (then Nations Bank) and they wouldn’t. Once paid off I did get the escrow returned in about two weeks though.

  34. Hamous Avatar

    do I have a legal obligation to continue funding escrow in an existing mortgage up to the bitter end

    Unless you can get the mortgage holder to release you, yes you have to continue to fund it. I tried to get mine to release me (then Nations Bank) and they wouldn’t. Once paid off I did get the escrow returned in about two weeks though.

  35. El Gordo Avatar

    Dud, I assume you have enough existing equity(used to be 20% minimum requirement) in your home to forego the entire escrow process.

    Yes to the 20% equity part, however, the mortgage was originally set up with the escrow structure (in Nov. 1999), so modifying the mortgage can be done now? Definitely will be contacting the lender, just want to know my options before talking to them.

  36. Dude42 Avatar

    Dud, I assume you have enough existing equity(used to be 20% minimum requirement) in your home to forego the entire escrow process.

    Yes to the 20% equity part, however, the mortgage was originally set up with the escrow structure (in Nov. 1999), so modifying the mortgage can be done now? Definitely will be contacting the lender, just want to know my options before talking to them.

  37. El Gordo Avatar

    Unless you can get the mortgage holder to release you, yes you have to continue to fund it. I tried to get mine to release me (then Nations Bank) and they wouldn’t. Once paid off I did get the escrow returned in about two weeks though.

    OK, that’s what I was getting at. Not the answer I wanted but I think in my case (Chase now, but started WaMu) it’s going to go the same way. Thanks for the heads up.

  38. Dude42 Avatar

    Unless you can get the mortgage holder to release you, yes you have to continue to fund it. I tried to get mine to release me (then Nations Bank) and they wouldn’t. Once paid off I did get the escrow returned in about two weeks though.

    OK, that’s what I was getting at. Not the answer I wanted but I think in my case (Chase now, but started WaMu) it’s going to go the same way. Thanks for the heads up.

  39. Katfish Avatar

    At this point, your principal is so low and the remaining time so short, early payoff likely won’t save you more than a few bucks.

  40. wagonburner Avatar
    wagonburner

    At this point, your principal is so low and the remaining time so short, early payoff likely won’t save you more than a few bucks.

  41. El Gordo Avatar

    At this point, your principal is so low and the remaining time so short, early payoff likely won’t save you more than a few bucks.

    Well, that’s true. I’d still like to “stick it to The Man” in whatever small way is available to me though.

    🙂

  42. Dude42 Avatar

    At this point, your principal is so low and the remaining time so short, early payoff likely won’t save you more than a few bucks.

    Well, that’s true. I’d still like to “stick it to The Man” in whatever small way is available to me though.

    🙂

  43. wagonburner Avatar
    wagonburner

    At this point, your principal is so low and the remaining time so short, early payoff likely won’t save you more than a few bucks.

    I paid off my loan a couple years early and the satisfaction alone was enough, regardless of the small amount I saved in interest. It’s a great feeling.

  44. Hamous Avatar

    At this point, your principal is so low and the remaining time so short, early payoff likely won’t save you more than a few bucks.

    I paid off my loan a couple years early and the satisfaction alone was enough, regardless of the small amount I saved in interest. It’s a great feeling.

  45. bob42 Avatar

    I just read on Facebook that my daughter is now “single.” Dang it! Her bf was doing such a good job on the yard raking.

  46. wagonburner Avatar
    wagonburner

    Several friends try and make me feel bad by saying “Yeah, but you can’t write off all that interest.” Yeah but I DON’T HAVE A HOUSE PAYMENT, YOU FOOL! HA HA HA!

    On a serious note, here’s a tip that may or may not be helpful depending on how many other deductions you have. After I paid off my mortgage I could no longer itemize deductions. What I do now is every other year I pay two years of real estate taxes in the same year. For instance I paid 2009’s taxes in January 2010 and I paid 2010 taxes in December 2010. That allows me to have enough deductions to itemize this year.

  47. Hamous Avatar

    Several friends try and make me feel bad by saying “Yeah, but you can’t write off all that interest.” Yeah but I DON’T HAVE A HOUSE PAYMENT, YOU FOOL! HA HA HA!

    On a serious note, here’s a tip that may or may not be helpful depending on how many other deductions you have. After I paid off my mortgage I could no longer itemize deductions. What I do now is every other year I pay two years of real estate taxes in the same year. For instance I paid 2009’s taxes in January 2010 and I paid 2010 taxes in December 2010. That allows me to have enough deductions to itemize this year.

  48. meglettx Avatar

    I have always despised escrow accounts for taxes and insurance. I realize about 80% of folks need that discipline to fund those expenses but it’s just another of many moneymaking scams perpetrated by the banksters, in my opinion. It’s no different than the millions of folks that overpay their income taxes and unwittingly provide an interest free loan to the government. I’ve just never understood it.

    Individually, you don’t think too much about the bank sitting on a few thousand of your dollars, interest free, for several months. Multiply that by the tens of millions of mortgages out there and tell me how much capital homeowners are providing to their lenders/servicers interest free.

  49. Lawrence Avatar
    Lawrence

    I have always despised escrow accounts for taxes and insurance. I realize about 80% of folks need that discipline to fund those expenses but it’s just another of many moneymaking scams perpetrated by the banksters, in my opinion. It’s no different than the millions of folks that overpay their income taxes and unwittingly provide an interest free loan to the government. I’ve just never understood it.

    Individually, you don’t think too much about the bank sitting on a few thousand of your dollars, interest free, for several months. Multiply that by the tens of millions of mortgages out there and tell me how much capital homeowners are providing to their lenders/servicers interest free.

  50. meglettx Avatar

    #25. Hammer, that’s another great scam perpetrated by the lenders – tax deductiblity of mortgage interest. It’s fine if its available to take advantage of it – but it should in no way be used to rationalize the legitimacy of debt.

    Let’s see, the guy with the mortgage spends $1 dollar in interest costs for 15 to 40 cents on that dollar in tax savings. Makes no sense to me. The guy that has paid off his mortgage is way ahead.

    The standard deduction, indexed for inflation, has made the mortgage interest deduction obsolete for many taxpayers.

  51. Lawrence Avatar
    Lawrence

    #25. Hammer, that’s another great scam perpetrated by the lenders – tax deductiblity of mortgage interest. It’s fine if its available to take advantage of it – but it should in no way be used to rationalize the legitimacy of debt.

    Let’s see, the guy with the mortgage spends $1 dollar in interest costs for 15 to 40 cents on that dollar in tax savings. Makes no sense to me. The guy that has paid off his mortgage is way ahead.

    The standard deduction, indexed for inflation, has made the mortgage interest deduction obsolete for many taxpayers.

  52. El Gordo Avatar

    I have always despised escrow accounts for taxes and insurance. I realize about 80% of folks need that discipline to fund those expenses…

    I agree with that. The reason I did it in the first place was convenience, but if I had it to do over again I would not set up an escrow acct. P.M.I. is another one that’s a scam if you ask me. Fortunately I was wise to that one up front and only paid it for a couple three months before I snapped to the fact that I was paying it needlessly (the bank sure ain’t gonna tell you!).

  53. Dude42 Avatar

    I have always despised escrow accounts for taxes and insurance. I realize about 80% of folks need that discipline to fund those expenses…

    I agree with that. The reason I did it in the first place was convenience, but if I had it to do over again I would not set up an escrow acct. P.M.I. is another one that’s a scam if you ask me. Fortunately I was wise to that one up front and only paid it for a couple three months before I snapped to the fact that I was paying it needlessly (the bank sure ain’t gonna tell you!).

  54. meglettx Avatar

    The banksters and their partners in crime in the government have cleverly marketed debt for decades. All that’s left now is the wake of financial and economic destruction most of the country and every level of government is now drowning in.

    Heard the term “mark to market” lately. You won’t either until the Fed and the banksters and the federal government begin enforcing the rule of law and force the banksters to acknowledge and eat their losses. That will mean indictments, prosecution, jail time and bankruptcy for many, many players in the financial markets.

    The economy won’t truly begin to recover until those steps are taken.

  55. Lawrence Avatar
    Lawrence

    The banksters and their partners in crime in the government have cleverly marketed debt for decades. All that’s left now is the wake of financial and economic destruction most of the country and every level of government is now drowning in.

    Heard the term “mark to market” lately. You won’t either until the Fed and the banksters and the federal government begin enforcing the rule of law and force the banksters to acknowledge and eat their losses. That will mean indictments, prosecution, jail time and bankruptcy for many, many players in the financial markets.

    The economy won’t truly begin to recover until those steps are taken.

  56. Sarge Avatar
    Sarge

    Hosted a fund raiser for a Democrat.

    Got elected with only 11 Republican votes.

    Appointed Liberal Democrats to Calendars and Ways and Means Committees.

    Threatened non-supporters with redistricting.

    Supports Fred Hill regarding property tax caps.

    Yep.

    Its amazing who some folks will call a Proven Conservative Leader so that they won;t have to admit that the nutcases were right.

  57. Sarge Avatar
    Sarge

    Hosted a fund raiser for a Democrat.

    Got elected with only 11 Republican votes.

    Appointed Liberal Democrats to Calendars and Ways and Means Committees.

    Threatened non-supporters with redistricting.

    Supports Fred Hill regarding property tax caps.

    Yep.

    Its amazing who some folks will call a Proven Conservative Leader so that they won;t have to admit that the nutcases were right.

  58. Adee Avatar
    Adee

    It is sadly amazing how many financial advisors convince homeowners not to pay off mortgages early, dangling that mortgage interest deduction in front of them as a huge reason not to do it. Ahem, then they suggest various investments with the $$ that doesn’t go to the early payoff, and of course they rake in commissions on those sales. Wonder how successful that canard will be in view of the Dems seriously urging killing the mortgage interest deduction. And you know as sure as the night follows the day, killing the property tax deduction is right behind that.

    My folks lived through the Depression as young folks and were well taught by their parents to spend wisely and save regularly. “Tuck a buck a day away” was a popular ditty. So was paying off the mortgage ASAP and ceremonially burning a copy of it. Dad’s frequent comment was about the wisdom of owning a piece of real estate, cause in hard times you could always pitch a tent on it and plant potatoes. (His family came from Ireland a generation before.) Sage advice in this gimme, gimme it right now world.

  59. Adee Avatar
    Adee

    It is sadly amazing how many financial advisors convince homeowners not to pay off mortgages early, dangling that mortgage interest deduction in front of them as a huge reason not to do it. Ahem, then they suggest various investments with the $$ that doesn’t go to the early payoff, and of course they rake in commissions on those sales. Wonder how successful that canard will be in view of the Dems seriously urging killing the mortgage interest deduction. And you know as sure as the night follows the day, killing the property tax deduction is right behind that.

    My folks lived through the Depression as young folks and were well taught by their parents to spend wisely and save regularly. “Tuck a buck a day away” was a popular ditty. So was paying off the mortgage ASAP and ceremonially burning a copy of it. Dad’s frequent comment was about the wisdom of owning a piece of real estate, cause in hard times you could always pitch a tent on it and plant potatoes. (His family came from Ireland a generation before.) Sage advice in this gimme, gimme it right now world.

  60. SC Avatar
    SC

    Yes, add up the total of your payments over the term of your loan versus the purchase price and you will be staggered. Pay what ever extra you can afford each month toward the principle and eventually it is MUCH money in your pocket. Same thing on a car loan, pay extra each month if you can.

  61. SC Avatar
    SC

    Yes, add up the total of your payments over the term of your loan versus the purchase price and you will be staggered. Pay what ever extra you can afford each month toward the principle and eventually it is MUCH money in your pocket. Same thing on a car loan, pay extra each month if you can.

  62. OletimerLin Avatar
    OletimerLin

    I voted against my own interests today by advising against further development of a proposed product based on some technology that I (rightly) did not think was ready for prime time just yet. Had the effort continued, I’d have been a key player in writing the techie courses for it and teaching the teachers how to teach them, amounting to many hours of productive work. Without it, I could easily be shifted to the “non-essential” column in some spreadsheet.

    I acted in the best interests of the company, and the technology (which is actually pretty cool.) I hope they remember that three months from now.

  63. bob42 Avatar

    I voted against my own interests today by advising against further development of a proposed product based on some technology that I (rightly) did not think was ready for prime time just yet. Had the effort continued, I’d have been a key player in writing the techie courses for it and teaching the teachers how to teach them, amounting to many hours of productive work. Without it, I could easily be shifted to the “non-essential” column in some spreadsheet.

    I acted in the best interests of the company, and the technology (which is actually pretty cool.) I hope they remember that three months from now.

  64. texanadian Avatar
    texanadian

    Bob, the whole crew in our building “Poke Chopped” today only 2 people DIDN’T get the Poke Chop.
    Guess what I’m having for lunch tomorrow? 😀

  65. Super Dave Avatar
    Super Dave

    Bob, the whole crew in our building “Poke Chopped” today only 2 people DIDN’T get the Poke Chop.
    Guess what I’m having for lunch tomorrow? 😀

  66. Simple Simon Avatar
    Simple Simon

    Adee,

    Ms Simple and I paid off our 30-yr Home Mortgage in about 10 years, but it was a 9% loan, which was pretty good for the inflationary 70’s and early 80’s.

    Paying off your loan only makes sense if you cannot get a higher rate of return from another investment. A plain jane dull as hell S&P Index Fund will return about 9% over a decade or so. Interest rates began falling when I started working overseas and rather than increase our indebtedness; we elected to become debt free. Ms Simple and I are about to
    retire and our next egg is pretty impressive. We will live comfortably and be able to send our granddaughter to the finest University if she desires to do so.

    Personally, I think a home is a pretty lousy investment and I’ll bet I can find a lot of sad sacks in agreement today. I bought a home because I needed a place to live and nothing more. Looking back at the repairs, remodeling, and other expenditures….I cannot safely say that I could ever make a profit on its sale. One can make a profit if the timing is right, but on the other half of the equation….you have to purchase a new home to replace the old home and the chances are you will eat up your profits on a larger home with more “stuff” in it. Sooner or later this little house of cards will fall. I have seen it happen too many times.

    That said. I am a fiscal conservative and I would like to see all the social engineering taken out of the tax codes and that includes the home mortgage deduction. There are other items I would like to see taken out of the code, but given measure of internal fortitude of our fearless leaders; I think there is not a chance in hades of that ever happening.

    Simple (venting as usual)

  67. Simple Simon Avatar
    Simple Simon

    Adee,

    Ms Simple and I paid off our 30-yr Home Mortgage in about 10 years, but it was a 9% loan, which was pretty good for the inflationary 70’s and early 80’s.

    Paying off your loan only makes sense if you cannot get a higher rate of return from another investment. A plain jane dull as hell S&P Index Fund will return about 9% over a decade or so. Interest rates began falling when I started working overseas and rather than increase our indebtedness; we elected to become debt free. Ms Simple and I are about to
    retire and our next egg is pretty impressive. We will live comfortably and be able to send our granddaughter to the finest University if she desires to do so.

    Personally, I think a home is a pretty lousy investment and I’ll bet I can find a lot of sad sacks in agreement today. I bought a home because I needed a place to live and nothing more. Looking back at the repairs, remodeling, and other expenditures….I cannot safely say that I could ever make a profit on its sale. One can make a profit if the timing is right, but on the other half of the equation….you have to purchase a new home to replace the old home and the chances are you will eat up your profits on a larger home with more “stuff” in it. Sooner or later this little house of cards will fall. I have seen it happen too many times.

    That said. I am a fiscal conservative and I would like to see all the social engineering taken out of the tax codes and that includes the home mortgage deduction. There are other items I would like to see taken out of the code, but given measure of internal fortitude of our fearless leaders; I think there is not a chance in hades of that ever happening.

    Simple (venting as usual)

  68. Simple Simon Avatar
    Simple Simon

    29 Larry,

    Nobody pointed a gun at the heads of those hapless borrowers. It pays to read the fine print and think things out before engaging in any business deal (a loan is a business deal).

    Yes, many of the folks in the banking business are unprincipled and overall bad guys. That is not exactly a news flash. Remember who Jesus chased out of the temple? Things have not changed all that much in 2000 years.

    Simple

  69. Simple Simon Avatar
    Simple Simon

    29 Larry,

    Nobody pointed a gun at the heads of those hapless borrowers. It pays to read the fine print and think things out before engaging in any business deal (a loan is a business deal).

    Yes, many of the folks in the banking business are unprincipled and overall bad guys. That is not exactly a news flash. Remember who Jesus chased out of the temple? Things have not changed all that much in 2000 years.

    Simple

  70. El Gordo Avatar

    Well, just got off the phone with the mortgage peeps and I’m in the same boat Hamous was in. Gotta keep paying into escrow, which will then be returned to me after final payoff. Oh well, it was worth a try.

  71. Dude42 Avatar

    Well, just got off the phone with the mortgage peeps and I’m in the same boat Hamous was in. Gotta keep paying into escrow, which will then be returned to me after final payoff. Oh well, it was worth a try.

  72. El Gordo Avatar

    Personally, I think a home is a pretty lousy investment and I’ll bet I can find a lot of sad sacks in agreement today. I bought a home because I needed a place to live and nothing more.

    Couldn’t agree more. Most people don’t like to face up to this reality, but a home (that you live in) is not an asset at all, but rather a liability. Thinking of your home as an asset stems from emotional thinking. That said:

    “There’s no place like home!”

    /and your little dog, too…

    🙂

  73. Dude42 Avatar

    Personally, I think a home is a pretty lousy investment and I’ll bet I can find a lot of sad sacks in agreement today. I bought a home because I needed a place to live and nothing more.

    Couldn’t agree more. Most people don’t like to face up to this reality, but a home (that you live in) is not an asset at all, but rather a liability. Thinking of your home as an asset stems from emotional thinking. That said:

    “There’s no place like home!”

    /and your little dog, too…

    🙂

  74. wagonburner Avatar
    wagonburner

    Well, I have a place to live that is not owned by the bank, a sleazy slumlord, or the gubment. And in the not-too-distant future my property taxes will drop precipitously. Comparable houses in my neighborhood are selling for more than three times what I paid for mine in 1990. That makes me feel somewhat comfortable and, barring asteroids, ET invasions, or plagues of Biblical proportions, I think I’m doing alright.

    I’ve lived very frugally for a long time and consequently have no debt. My last few new vehicles I’ve been able to trade in a decent low mileage truck and pay cash for the balance. If you really want to tick off bankers and such walk into a dealership, haggle with them, get the price down to where you want, and when they bring out the financing papers and ask you stupid questions like “How much do you want your monthly payments to be?” say, “Zero. I’m paying cash.” It’s fun to watch their faces drop. That’s where they really make their money.

  75. Hamous Avatar

    Well, I have a place to live that is not owned by the bank, a sleazy slumlord, or the gubment. And in the not-too-distant future my property taxes will drop precipitously. Comparable houses in my neighborhood are selling for more than three times what I paid for mine in 1990. That makes me feel somewhat comfortable and, barring asteroids, ET invasions, or plagues of Biblical proportions, I think I’m doing alright.

    I’ve lived very frugally for a long time and consequently have no debt. My last few new vehicles I’ve been able to trade in a decent low mileage truck and pay cash for the balance. If you really want to tick off bankers and such walk into a dealership, haggle with them, get the price down to where you want, and when they bring out the financing papers and ask you stupid questions like “How much do you want your monthly payments to be?” say, “Zero. I’m paying cash.” It’s fun to watch their faces drop. That’s where they really make their money.

  76. bweldon Avatar
    bweldon

    Hammie is correct about no house payments. I think it foolish anyone that thinks Hammie should buy a new house “just” for the tax deduction. There are better investments than a tax deduction. I like the security of owning my own home, still a few years down the road for me. Hey Hammie wanna trade? 😉

  77. squawkbox Avatar

    Hammie is correct about no house payments. I think it foolish anyone that thinks Hammie should buy a new house “just” for the tax deduction. There are better investments than a tax deduction. I like the security of owning my own home, still a few years down the road for me. Hey Hammie wanna trade? 😉

  78. Tedtam Avatar

    This made me grin.

    And I needed a grin today. Big time.

  79. Tedtam Avatar

    This made me grin.

    And I needed a grin today. Big time.

  80. Southern Tragedy Avatar
    Southern Tragedy

    Hey Hammie wanna trade?

    Gran Torino in the Burrow anyone?

  81. GJT Avatar
    GJT

    Hey Hammie wanna trade?

    Gran Torino in the Burrow anyone?

  82. mharper42 Avatar
    mharper42

    #11 Dude

    We paid off our mortgage 9 years ago with a windfall that I got when I took the early retirement package from a big company in the O&G services field. All it took was to ask the mortgage company what was the payoff amount. Only they could compute it. I can’t remember now if our property tax was escrowed or if we were paying HCAD ourselves all along. But that payoff check was our last transaction with the mortgage company.

  83. mharper42 Avatar
    mharper42

    #11 Dude

    We paid off our mortgage 9 years ago with a windfall that I got when I took the early retirement package from a big company in the O&G services field. All it took was to ask the mortgage company what was the payoff amount. Only they could compute it. I can’t remember now if our property tax was escrowed or if we were paying HCAD ourselves all along. But that payoff check was our last transaction with the mortgage company.

  84. mharper42 Avatar
    mharper42

    #23 Hamous

    It’s a great feeling.

    Amen. Although after you own your home free and clear, you are in some sense renting it from the state by way of your property taxes. I think it was Annise Parker (in some previous city job) who said that old people don’t have to pay their property taxes on a homestead, so what’s the big deal. The city just confiscates the property after you die, and will take out your unpaid taxes plus penalty and interest, then maybe if there is anything left over, it goes to your heirs.

    To me, the best thing about being mortgage-free is how it lessens any anxiety about being unemployed in a bad economy. I know lots of good workers who got pink slips in the last 2-3 years. It is especially painful for older homeowners to be out of work before the house is paid off.

  85. mharper42 Avatar
    mharper42

    #23 Hamous

    It’s a great feeling.

    Amen. Although after you own your home free and clear, you are in some sense renting it from the state by way of your property taxes. I think it was Annise Parker (in some previous city job) who said that old people don’t have to pay their property taxes on a homestead, so what’s the big deal. The city just confiscates the property after you die, and will take out your unpaid taxes plus penalty and interest, then maybe if there is anything left over, it goes to your heirs.

    To me, the best thing about being mortgage-free is how it lessens any anxiety about being unemployed in a bad economy. I know lots of good workers who got pink slips in the last 2-3 years. It is especially painful for older homeowners to be out of work before the house is paid off.

  86. Adee Avatar
    Adee

    Yep, owning your home outright leaves you with only the county tax assessor’s fingers on your
    manse. We regard our homestead as comfortable shelter, not an investment, though its value has increased dramatically in 31 years, helped along by location, location, location.

    Hamous is so right about a cash purchase of a vehicle kinda taking the wind out of the car dealership’s sail. Good advice to make the deal before even mentioning payment arrangements. Then refuse the extended warranty.

  87. Adee Avatar
    Adee

    Yep, owning your home outright leaves you with only the county tax assessor’s fingers on your
    manse. We regard our homestead as comfortable shelter, not an investment, though its value has increased dramatically in 31 years, helped along by location, location, location.

    Hamous is so right about a cash purchase of a vehicle kinda taking the wind out of the car dealership’s sail. Good advice to make the deal before even mentioning payment arrangements. Then refuse the extended warranty.

  88. El Gordo Avatar

    I thank you folks for all your input on the mortgage issue. I can tell from the consensus here that you’re a financially responsible group of people.

  89. Dude42 Avatar

    I thank you folks for all your input on the mortgage issue. I can tell from the consensus here that you’re a financially responsible group of people.

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