Rex: Taxpayer Subsidized Mortgages up to $284,000

Taxpayer Realty.jpgTimes are tough in the Palmetto State.

Unemployment is at a 2-year high of 6.5 percent. Energy and transportation costs are soaring. As if that weren’t enough, South Carolina leads the nation in violent crime, primarily as a result of its shameful 55 percent high school graduation rate. The median family income in South Carolina lingers just above $52,000.

But not to worry, the clairvoyant and magnanimous leadership at the State Department of Education has a vision for navigating our people out of the storm: Massively subsidizing mortgages for public school employees.

Middle and low income taxpayers across South Carolina can sleep easy knowing that their money is helping to float sub-prime mortgages (30 years at 5.8 percent) for public school teachers earning up to $73,800 per year. In fact, the program provides for both newly constructed homes as well as existing homes up to $284,050! It also gives school employees $7,000 in down-payment cash to shoulder the initial burden.

This all encompassing devotion to the state’s prosperity and the people’s happiness deserves an equally magnificent and politically unassailable title. That’s why they call it “the Palmetto Hero Program.”

The impartial visionaries at the People’s State Newspaper have rightfully praised this benevolent system of redistribution and state leadership as essential for attracting “high quality teachers” to nation’s worst public schools.

While the average home in South Carolina sells for a mere $129,000, we know that hard working public schools teachers deserve much better! We only hope that lawmakers and “professional educators” in Columbia will consider expanding the program by removing all income and home price limitations.

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6 responses to “Rex: Taxpayer Subsidized Mortgages up to $284,000

  1. ha ha, nice pic. so what about cops and firefighers, where is theirs? and returned national guard and reservists? if teachers are making $70k why do they need a subsidy?!

  2. CogitoCircle

    Palm has it wrong – NO ONE needs to be getting specialized tax treatment. this is why the state/nation are broke. Wasting more and more money on ineffectual social policy and government fat (like these crappy schools) and then handing out tax exemptions to rent seeking corporations and politically outspoken or sympathetic constituencies like teachers.

  3. I think the program is a great way for us to attract the kind of teachers we need to improve our public schools. How else are we going to convince them to come here of all places?

  4. And this is suppose to do what for our school rankings?? Maybe we should get the teachers union involved.

  5. Put Gov. Mark Sanford in charge and this will stop at once.

  6. I can’t believe that this has been proposed! OF all the idiotic measures I have heard of this is it!
    I worked for 19 years with the School District of Greenville County as a maintenance electrician and only the last five years did I make top pay of $16.50 per hour.
    I paid for my home and bought three different cars (all used but good) and nobody offered to subsidize my house payment and after 1984, my wife who had worked for 14 years at Eastside high School and had to stop because she badly injured her foot, I had the whole load by myself.
    She did not receive very much due to a technical law, yet it ruined her from working as she could not stand on her foot because it would swell and still does so today.
    I made it! By the help of God and good financial planning. If these teachers can’t make it on what they are paid which is well above what I earned, then they don’t deserve a house or a car.
    This is the just evidence of the stupidity of the Department of Education and those who are involved in it.
    What are you going to do? Take away my State Retirement to subsidize this Socialistic move?

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