I was disappointed to hear that the Senate proposed $15,000 home buyer tax credit has been removed from the Stimulus Package that President Obama will likely sign in a few days.
I worked for Marathon Oil Company for (6) years as a territory manager. My customers regularly asked me if the DTW (dealer tank wagon) which is the price that gas stations paid for gasoline was going up or going down. Even with an insider perspective, I quickly discovered that my recommendations were not much better than the Weather Men's Predictions. I have enjoyed a (10) year career in the mortgage and real estate industry. My clients regularly want to know the direction of mortgage interest rates. I have found the same principle of accuracy as the Weather Men's Prediction with mortgage rate trends as I did with gasoline prices.
I believe the Weather Men's Prediction Principle applies to many things in life including politics. The $15,000 home buyer credit was almost guaranteed to be included as part o the stimulus package as of a couple days ago. It appears President Obama will sign a package that does not include it.
According to The Associated Press Senate Majority leader Harry Reed claims that 95% of American workers will get a tax cut. Senator Joe Lieberman says the bill will be the beginning of the turn around of the American economy. President Obama states "it will save or create more than 3.5 million jobs. I hope these claims do NOT follow the Weather Men's Prediction Principle!
Other provisions include:
- Expanded unemployment benefits, food stamps and heath care coverage.
- A $250 one-time payment to millions o social security beneficiaries.
- $46 billion in transportation related projects.
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