Fw: PA Economic Boost Awaits Action

Sent on the Sprint® Now Network from my BlackBerry®

---

From: "Bob Logue" <ucblogue@verizon.net>

Date: Wed, 12 Jan 2011 14:16:26 -0500

To: <Undisclosed-Recipient>

Subject: PA Economic Boost Awaits Action

Would a $24 Billion Dollar infusion of economic activity (at NO COST to government on any level) boost Pennsylvania's stagnant economy?

   

• There is $8 Billion sitting idly in tax escrow accounts in banks all over Pennsylvania.  Banks pay NO interest on the $8 Billion they hold so this idle money gains the depositor (home owner with a mortgage) absolutely nothing.  Banks cannot lend the money, so it generates NO economic activity in the market place; and banks don't benefit either. It just idly sits there waiting until yearly property taxes are due on homes, and then the banks forward the money to the counties, school districts and municipal governments. 
• Economists say money reverberates through our economy multiple times.  We used three times (a very conservative estimate) to arrive at the $24 Billion in economic activity that would be occur if the $8 billion in tax escrow accounts was no longer required from those with home mortgages.
•   IF THERE WERE NO PROPERTY TAX ESCROW ACCOUNTS:
• Homeowners with mortgages would pay only the principal and interest on their mortgage plus homeowners insurance; cutting their monthly 'house' payment by multiple hundreds of dollars. 
• More people could keep their homes.
• More people could buy homes greatly boosting the housing market.
• More people would improve their homes.
• More young people would establish their home for their families in Pennsylvania rather than some other state
• More seniors (retirees) would remain here, keeping their accumulated wealth here, too.
• Greater population would attract more businesses to serve them.
• Tens of thousands of PERMANENT jobs would be created IN THE PRIVATE SECTOR with no need for governmentally funded so called 'job creation' programs.                Make-work governmentally induced jobs are often temporary—lasting only until the federal or state funding is no longer forthcoming. 
• More people working + more businesses equals more tax revenue for schools, counties and municipalities.
• More people able to purchase homes means revitalization of our suffering municipalities.
• No more sheriff sales for 'delinquent' property taxes currently based on phony, corrupt assessment figures stealing the homes and most, or all of the equity of 30,000+ Pennsylvania homeowners EVERY YEAR.
• No more countywide reassessments which cost Pennsylvania taxpayers tens of millions of dollars.
• Smaller government since every county's property tax assessment offices, could be cut dramatically, saving taxpayers tens of millions across the state.
• No more harassment of homeowners since there would be no more reassessment hearings.
• The Lottery-Funded Property Tax Rebate program could be abolished, saving the lottery over $60 million per year, which could be used to provide more seniors with PACE coverage, or expanded Rent Rebates.
• True home ownership would come to Pennsylvanians for the first time in our history—since we currently in effect only 'rent' our homes from the counties, municipalities and school districts.  Private property ownership rights is a basic component of our freedom. 

How could this dream become a reality?  First, if anyone tells you it can't work...they are either misinformed or lying.  They need only to check with the Legislative Budget and Finance Committee which studied the STOP Primary Residence Protection plan and found abolishing all three property taxes on primary residences (homesteads\farmsteads) is fiscally sound and economically viable.  The schools, counties and municipalities would be fully funded with replacement revenue for the lost property tax revenue.  Increased economic activity would mean even more revenue for the county and municipal governments and school districts than they are currently receiving.

     During the 8 years of Governor Ed Rendell's reign of error, 240,000+ Pennsylvania families lost their homes and equity and he couldn't have cared less.  Will Governor Corbett be any better?  Let's hope and pray he will.  Do whatever you can to spread this message to Governor Corbett, the newly elected or re-elected legislative leaders and YOUR state reps and senators.  Print this out and mail it to them...or if you can find e-mail addresses for them...send it by E-mail. 

     I welcome their response at ucblogue@verizon.net    or to Box 306, Fairbank, PA 15435-0306.  Happy New Year to you and your family.  It won't be a happy new year for the 30,000+ homeowners who will have their homes and equity stolen this year due to the corrupt Pennsylvania property tax system.  Bob Logue, STOP Primary Residence Protection Plan.  Learn more at www.grandoldusa.com   and www.spedunkie.com  hit on the STOP page.