As I watched the Donald Trump-­Kamala Harris debate, I was reminded of the Clinton era, when he attempted to have every American have a home to achieve the so called “American dream.” He removed the mortgage requirements set by Fannie Mae and Freddie Mac by regulating that a homebuyer needed no downpayment, no credit and no income verification. When mortgages began to default, banks and savings and loan companies were forced to close their doors, causing a financial crisis.

Harris comes forth with a different twist by giving $25,000 to 3 million first-time homebuyers at a cost to the American taxpayer of $75 billion. Would this not be better spent on seniors who are unable to pay for assisted living care facilities?

Harris also pledged to give $50,000 in tax credits to those who want to start small businesses. Because a person wants to go into business does not mean they will be successful. It takes a strong-minded person willing to work a minimum of 12 hours a day who has a product or service that is unique. Eighteen percent of new small businesses fail in the first year, an additional 31% in the second year and 50% in the fifth year. They did not need tax credits, as there were no profits to pay taxes.

Harris’ pie-in-the-sky, unworkable programs are a public relations scheme to whet the appetite of the gullible to vote for her. Do not be fooled.

John Kostelac

White Oak

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