If one is on welfare, they are NOT to have assets.   A home is an asset.

If you can own a home, you should NOT be getting welfare or SSI.  

SSI is the welfare for the disabled.

So why is it that for McC and the city, they give out taxpayer money to cover the cost of the down payment and look at what it says for the income info:

Quoted Text

...
INCOME VERIFICATION
7. Last 4 most recent payroll stubs, last years tax returns, SSI award letter,
...

People getting SSI are NOT allowed to own a home.    Or are they allowed now?   If you have an asset such as a home, they you should NOT be getting handouts from the taxpayer.   SSI is for people who do not work, have not paid into the social security system, thus they have not EARNED their government income.

People who worked all their lives, paid fed taxes, state taxes, property taxes, Soc Sec taxes, and wisely saved money wind up having to sell off everything when they are in a nursing home for example (even a private nursing home), they have to sell their homes and their children cannot live the family home (a spouse has some allowance to do so).  

But people who have not paid into the system, the dems and McC are making us pay for their down payments and then we will. continue paying them welfare while they own a home?

Why do we work?

Quoted from mikechristine1

People getting SSI are NOT allowed to own a home.    Or are they allowed now?   If you have an asset such as a home, they you should NOT be getting handouts from the taxpayer.   SSI is for people who do not work, have not paid into the social security system, thus they have not EARNED their government income.

Most SSI and SSD recipients became disabled. They paid their taxes. SSI and SSD come from the federal social security fund.
They also include survivor benefits and disabled children assistance money as part of social security.

As far as social services benefits, I seem to remember someone telling me that homeowners may receive benefits, but it appears as a lien on their property. This must be paid back before or during the sale of the property. This was over 10 years ago, so things may have changed.

If the city is giving down payment money for home purchases, that comes from the city's tax funds.

It's done all the time for corporate welfare recipients. They give not only grants and zero interest loans, but also tax free status.

Quoted from mikechristine1

If one is on welfare, they are NOT to have assets.   A home is an asset.

A home is a liability, it is shelter, it has no productive output.  Many Americans confuse that fact.  

That doesn't make the situation any better, since we are now giving a government liability(person on welfare) and saddling them with another liability.  It is obvious to most that this is economically impossible.

What it basically boils down to is this, the abandon property in Schenectady is now becoming public housing.  These people own NOTHING.

Welfare is a temporary state (or should be in theory) that is used by many when there has been an unforeseen loss of income: example-a stay at home mom whose husband has passed away. Welfare would allow that mom the chance to provide for her family while trying to get herself back in the workforce. Her house (and I believe non luxury cars) are exempt assessets. By taking away someone's house and transportationyou put them at greater long term financial risk than if they just get some help during a tough time.

SSI is for anyone who becomes disabled and Has limited income. They may or may not have paid taxes. A cousin of mine was on SSI for a few years after a car accident left him unable to work. His wife worked but their income was low. Their house was not taken from the
  

We work and pay FICA taxes so that someday we can collect Social Security as in "pension" to supplement our 401K's and other savings that lose money.

We work and pay FICA taxes so that once we have worked many years and become disabled, we can get Soc Sec  Disability, SSD

But SSI is for people who worked only a few years, who become disabled, so SSI (apply at Soclal Security Admin) is the payor before "Welfare" (which peple apply for at the county dept of Social Services.   Hey, it doesn't matter, it's still taxpayer money that pays.

There is "welfare for the able bodied" and there is "welfare for the disabled."    Welfare for the able bodied is supposed to be temporary.   Welfare for the disabled can largely be forever is especially since most of the disabilities that SSI pays for are subjective as opposed to SSD which even some people with multiple "visible" disabilities cannot get approved for SSD because they SSA doesn't define them as disabled no matter how much medical info is there.   Look at all the attorneys that take cases to help people get SSD.   They don't do that for SSI because, heck, SSI will give you benefits just for merely being somewhat overweight (yeah, we've known a couple people who have been approved on that basis)


But SSI is for people with limited income and limited resources.   Property is a resource, you can't have a resource more than $2,000 for individuals and $3,000 for couples.


But regardless, how can anyone afford a house if they are on SSI, I think maximum in NY (with state payment included) is about $900 a month.   Where does McC think someone is going to buy a house in the city where the principal + interest + taxes + insurance + PMI will total less than $300 per month (one third is the proportion of payment to income generally)

Quoted from mikechristine1

But regardless, how can anyone afford a house if they are on SSI, I think maximum in NY (with state payment included) is about $900 a month.   Where does McC think someone is going to buy a house in the city where the principal + interest + taxes + insurance + PMI will total less than $300 per month (one third is the proportion of payment to income generally)

You could own lots of homes in the city for $10,000 each.

Quoted from mikechristine1

But regardless, how can anyone afford a house if they are on SSI, I think maximum in NY (with state payment included) is about $900 a month.   Where does McC think someone is going to buy a house in the city where the principal + interest + taxes + insurance + PMI will total less than $300 per month (one third is the proportion of payment to income generally)

It's public housing without the city having to directly manage it.  In the short term, this gimick may be able to keep the assessment values of the houses up and keep the property tax revenue up - but it won't last.

The value of property will devalue with non-productive people occupying them.  Whether people are legitimately disabled or not, the fact remains, these people are not productive.  And there is no economic value without productivity, unless the house is made of something that has an intrinsic value like gold.

Schenectady will become 10.78 square miles of ghetto.

Quoted from CICERO

It's public housing without the city having to directly manage it.  In the short term, this gimick may be able to keep the assessment values of the houses up and keep the property tax revenue up - but it won't last.

The value of property will devalue with non-productive people occupying them.  Whether people are legitimately disabled or not, the fact remains, these people are not productive.  And there is no economic value without productivity, unless the house is made of something that has an intrinsic value like gold.

Schenectady will become 10.78 square miles of ghetto.

The worst part of all of this, is that almost every city has more empty homes than they have homeless people.

Quoted from Libertarian4life

Most SSI and SSD recipients became disabled. They paid their taxes. SSI and SSD come from the federal social security fund.
They also include survivor benefits and disabled children assistance money as part of social security.

As far as social services benefits, I seem to remember someone telling me that homeowners may receive benefits, but it appears as a lien on their property. This must be paid back before or during the sale of the property. This was over 10 years ago, so things may have changed.

If the city is giving down payment money for home purchases, that comes from the city's tax funds.

It's done all the time for corporate welfare recipients. They give not only grants and zero interest loans, but also tax free status.

EVERYONE SHOULD PARTICIPATE IN THIS....virtual value....why sit around waiting for moodys or others to stamp
you with a value that can be ripped out from under you at any time....

why bother making an effort.....the system gingerly drags everyone along with perceived value and back pats and
'dues paid'.....

even the 'rich' access their benefits that they paid into before becoming 'rich'.....

again....why F'EN bother.....

come on,,,,some body talk me into thinking it's actually worth it

Not totally on topic but quilofication for Section 8 or government rental assistance is based primarily upon income.  Therefore conceptually you could have $1000000 in the bank and still receive assistance as long as the interest income on that million is low enough.  At these low interest rates, half a percent a year on a million isn't much.  

Quoted from TakingItBack

Not totally on topic but quilofication for Section 8 or government rental assistance is based primarily upon income.  Therefore conceptually you could have $1000000 in the bank and still receive assistance as long as the interest income on that million is low enough.  At these low interest rates, half a percent a year on a million isn't much.  

TakingItBack, don't they also take into account an applicant's total assets when determining eligibility? That would include bank accounts would it not?

and eligibility for senior housing is based on income.....doesn't matter how much you have in assets.....(ban/.stock)

Wefare  revenue to receipients should be temporary and working besides...but that won't work in today's job market....and breaking the chain for

many on welfare would be a hardship.....they like staying home ...smoking cigarettes and watching the tube all day....that's from what I have seen...

If you choose to decry those with assets getting public assistance, then the Metroplex should be the first thing to go.

It provides free money, zero interest loans and low or no cost properties to corporations that have a great deal of assets.

Why does everyone go after the little guys first.

Just in recent history, over $56 million was given to the corporate friends and family plans.

To add to their asset portfolios.

Quoted Text

and breaking the chain for many on welfare would be a hardship...

True, the hardship of the taxpayers would be handed back to the corporate elite.

Quoted from 3303

TakingItBack, don't they also take into account an applicant's total assets when determining eligibility? That would include bank accounts would it not?

Nope. Just income on assets.

Quoted from TakingItBack

Nope. Just income on assets.

Thanks.