One of the more maddening things about this whole Frost debate is the obvious irrational belief that a 260k house in the heart of Butcher Hill in Baltimore is somehow a big deal. Granted, here in WV, depending on the area you live, a 260k house is something that could be pretty nice, but in most urban areas, 260k is nothing. From the comments:
There are a lot of problems with the SCHIP bill. The bill ncludes provisions that manipulate this program to expand coverage to illegal immigrants and the upper class (that are already covered by private insurance). I’m not against giving the very poor some kind of assistance with health insurance. I don’t think Michelle is either. But people in 260G homes don’t need it. And it certainly better not go to illegal aliens.
Hell, go here and check it out for yourself what the real estate market will give you in WV for $260,000. Even here in WV, where real estate values are low, these are not mansions- they are middle class homes. They are the kind of home lived in by voters that Richard Nixon would have targeted with his famous “Checkers” speech:
Well in addition to the mortgage, the 20,000 dollar mortgage on the house in Washington, the 10,000 dollar one on the house in Whittier, I owe 4500 dollars to the Riggs Bank in Washington, D.C., with interest 4 and 1/2 percent. I owe 3500 dollars to my parents, and the interest on that loan, which I pay regularly, because it’s the part of the savings they made through the years they were working so hard — I pay regularly 4 percent interest. And then I have a 500 dollar loan, which I have on my life insurance.
Well, that’s about it. That’s what we have. And that’s what we owe. It isn’t very much. But Pat and I have the satisfaction that every dime that we’ve got is honestly ours. I should say this, that Pat doesn’t have a mink coat. But she does have a respectable Republican cloth coat, and I always tell her she’d look good in anything.
The disconnect is clear- some of these people see 260k, and they think this family is flush with assets, even when the house is mortgaged. It just isn’t the case, and you have to wonder whether the folks commenting flippantly about this have any real experience with housing markets.
I remember in the not so distant past when Republicans mocked Al Gore because of his definition of rich:
The vice president’s proposals rely on targeted credits whose value diminishes dramatically as family income rises. This means the Gore tax reductions are intrinsically biased against states and regions with high living costs and high average incomes, whose residents already bear the brunt of the federal income-tax burden.
Millions of families in high-income states qualify as middle class by the standards of their own communities. But Gore’s ranks them as too “wealthy” to need–or deserve–a tax cut.
New York is a prime example.
The Empire State is a perennial net loser in the income-redistribution game and bears a disproportionately large share of the total federal income-tax burden. Factoring in steep tabs for state and local government, residents of New York are the most heavily taxed people in the country. If anyone needs relief, New Yorkers do.
They’d get it from George W. Bush.
My, how things change. A few years ago, when it came to tax cuts, the right was able to (correctly, in my opinion) discern that 80k combined income was decidedly middle-class. Now, we learn from the lunatics on the right, 45k annual income and a modest and mortgaged 260k house not only qualifies someone as rich, but means that they are worthy of our scorn and contempt, and don’t deserve any help in their time of need.
It is sad, really.