Mitt Romney: Facing Foreclosure? Tough Luck!

The White House issued new guidelines this Monday that will permit struggling borrowers to refinance their mortgages at the current ultra-low rates, meaning their monthly payments would be reduced. According to the Federal Housing Finance Agency, this could potentially affect up to 1 million homeowners.

Unfortunately, Willard Mitt Romney is not too pleased with this "government intervention."

"Don’t try to stop the foreclosure process. Let it run its course and hit the bottom. Allow investors to buy homes, put renters in them, fix the homes up and let it turn around and come back up. The Obama administration has slow walked the foreclosure process ... that has long existed and as a result we still have a foreclosure overhang."

What Little Willy fails to realize is that the banks have not been playing fair. They have been foreclosing on homes that they have "no authority to foreclose on" and "failing to process borrowers’ payments," while simultaneously "raising borrowers’ interest rates after inking a loan modification agreement to lower the interest rate."

Meanwhile, the GOP republicans are hell bent on removing those very regulations designed to provide Americans from such unethical actions.

Sources: Hardball, Washington Post, Huffington Post

The Republican Love Affair With A Flat Tax

First it was Herman Cain with his 9-9-9 plan. Then earlier today, Rick Perry announced that he will be revealing his own flat tax plan tomorrow -- one day after Steve Jobs endorsed him. If you recall, Jobs' proposed his own flat tax plan during his 1996 and 2000 runs for the presidency. And now, Mitt Romney, who previously targeted Steve Forbes' proposal as a "tax cut for fat cats," has been reported by the New York Times as also favoring a flat tax.

"I love a flat tax."

The problem with such a tax, however, is that it is quite regressive, meaning that the poor and Middle Class would end up paying far more than the rich (more on this later).

Sources: Hardball, Daily Caller, New York Times