Saturday, May 31, 2008

"Realtors Double As Legislative Watchdogs"

The above is the title of a guest commentary by Ruth Briggs King. She Supports the Federal FHA reform bill in Congress. She does not support efforts by the State in increase the transfer tax, to give Delaware Technical College a stable funding for its construction projects. She does not support any type of rent control to the 1000's of homeowners who do not own their own land.
I think the FHA Reform bill is overdue, but a little like closing the barn door after the horse is already gone.
The Delaware Technical effort to add .28% to an all ready high transfer tax on property sales. Lately this tax has been declining with the housing slump. Del. Tech. knows the the good times will roll again and this could be a cash cow. The inherent problem with taxes earmarked for special interests, is that the budget becomes difficult to control and does not give the Governor or the Legislators the ability to do their jobs. All State income should go into the General Fund and all departments should submit a budget every year. Just because funds were given in any year should not be cause to fund every year. The State as well as the Federal Government has very little control over their budget anymore.
Uncle Fred

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