Homebuyer Credit Updated - I Don't Get It!

By Heather, CPA (Balance with Purpose)

What I mean is, I understand it, but I DON’T GET IT! So, I’ve got my own proposed legislation.

Congress decided to extend the parameters of the First-time Homebuyers Tax Credit to allow more people to take advantage of the credit. 1) Homeowners who have lived in the same house for five of the last eight years may be eligible for up to a $6,500 tax credit by purchasing a new home. 2) The new law raised the income threshold, allowing more Americans to take advantage of the benefit. 3) The availability of the credit, set to expire at the end of 2009, has been extended to at least April 30, 2010.

Great, right? Not-so-fast!

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Gov't: Fight Obesity? Add Sales Tax to Soda Tab

By MAD21

I'll just start this post with... OH, COMMON! Seriously??? This is where my tax dollars are going? To decide to fight obesity by taxing soda??

Yesterday, Boston.com reported: "ATLANTA—In a bid to ramp up the public health battle against obesity, a group of nutrition and economics experts are pushing for a tax of 1 cent on every of ounce of sodas and other sweetened beverages....A soda tax would generate tax revenue while discouraging people from consuming extra calories, the authors contend. They cited a series of studies that showed higher rates of obesity and diabetes among women who drank more sugar-sweetened beverages. They argue that a steeper soda tax would borrow the same strategy that helped drive down cigarette smoking while bolstering government revenues."

Really? Is this necessary? If the government is considering fighting obesity, it would be nice if they spent their time a little wiser, possibly come up with a REAL plan/program. This seems to me to be yet another step in the government trying to control something that we should be accountable for as an individual.

Good news is that it doesn't look like it's going to go far.