A provision of the American Recovery and Reinvestment Tax Act of 2009 will allow first time homebuyers to receive an $8,000 income tax credit from the government. However, people earning more than $75,000 per year do not qualify. It seems like we got into the whole credit crisis and mortgage meltdown in the first place because people who couldn't afford to buy homes were buying, so why would we want to limit people with higher salaries from purchasing homes now?
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