Bad policy, ctd.

Buried in this post from The Atlantic's Business blog is a disturbing observation on the renewal of the Homebuyer's Tax Credit ...

The size of the tax credit is equal to almost two years of TANF payments to a typical family and could pay for approximately 2.5 kid years of health care under the State Children's Health Insurance Program. This is a questionable redistributive policy to homebuyers who have higher incomes on average than renters.

Awesome. I already expressed some concerns over this program, and now we realize that in addition to doing little to nothing to spur sales, it's also could be used more effectively, more humanely and more efficiently in spurring sales.