Pssst...wanna make $70K tax free?

I came across a neat little program the good citizens of Atlanta have going for them. It's quite simple. If you make under $71K ($81K if you have a kid) you get 14% off the cost of buying a house in the city of Atlanta. They take 10% off the price of the house and give you an extra 4% down payment. And on top if it, no matter how bad your credit is, you get a guaranteed 6.25% 30 year fixed mortgage. Only requirement is that the house being purchased has to be within the city limits and at the time of purchase you can't already own another property. Although it doesn't say anything about owning another property outside the city.

So on a house with a price tag of $500,000, you pay $450,000 and the city of ATL chips in the last $50K. And on top of that you get another $20K as a down payment. And there are no closing costs either, the city pays for that as well. All you need is $1500 and you're all set.

Here is the choice for someone today who lives in Atlanta. Earn $140K and pay $500K for a house. Or earn $70K and pay $430K for the same house. Hmmm, what do do. What to do indeed? Work twice as much and end up with the same. Or work 1/2 as much and end up with the same? Gawwwly I wonder what the better option is.

Unfortunately I am too rich to qualify for this giveaway at the present. However I will inquire as to how that $71K is calculated. If it's simply based on gross for the current year, I can predict right now with a 99% confidence level that my income for the year 2009 will be $70,850. If you can't beat 'em, might as well join 'em at the government trough. And by then Obama will have started his hope and change programs. Who knows I might even qualify for free gas, free food, free health care. I won't even need $70,999. I'll be just as well off making $8 an hour at WalMart and getting the rest from Uncle Barry.

I also found out that one of Georgia's two Republican corrupt senators, Johnny Isakson - the other corrupt Republican Senator is Saxby Chambliss - made his fortune in real estate in Atlanta. He ran the largest local real estate company for 20 years. And completely by coincidence he is one of the most ardent supporters of the Countrywide Bailout Bill currently being debated in Congress. No mention of this in the local media. Republican or Democrat, doesn't matter. The media protects those that feed it. And the largest source of revenue for newspapers is real estate ads. You do the math on whether or not a newspaper like the Atlanta Journal Constitution will be for or agaianst the Countrywide Bailout Bill and whether or not it will say a word about the corruption involved with it.

I have to give credit where credit is due. Bush has said he will veto this abomination of a bill. He said he will, we'll see if he follows through.