I have questions concerning the Sub-Prime mess, the Foreclosure Crisis and the Economic Stimulus Rebates and thank you in advance for your thoughtful answers...
What impact has the mortgage products boom--ARM's, 100% no-down loans, etc. had on Federal taxes and on local taxes?  Anything significant?  It would seem that ARM's benefit the Fed in the short run because less interest is being paid--therefore less mortgage interest deductions--but in the long run--when more interest is paid--the Fed takes in less? 
What about Foreclosures?  What is the tax hit for local governments?  I assume property taxes suffer?   Does the bank who takes over the property have to pay the taxes on it?  Do they?  If, because as we've seen with some of these loans, it is difficult or impossible to assign ownership--who pays the taxes?  Do any of these Foreclosure proposals take that into consideration?  
What about for tax payers going through foreclosure?  If you give back your house do you get a 1099 for the "income" you "receive" via not paying the debt?  How does that work?Thanks!  

I was at Presiding Judge Training last night (in Ohio) and we were reviewing form 10 X--Change of Party Registration Form.  The form states "I (name of person Challenged) of (Address) hereby state, under penalty of election falsification, that I desire to be affiliated with and that I support the principles of the (Designate Democrat or Republican) party and wish to cast a ballot in the party's primary election this year."  It is left up to the Poll Workers to decide if the individual gets to change their party affiliation or not.  I'm new to this arena--anyone have any experience with people switching party allegiance in a primary in order to vote in such a way that is beneficial to their original party?  Has anyone ever been denied the opportunity to switch parties at a primary election?  Our trainer would not even give us an example of when a Poll Worker would approve or deny this request.  Falsely switching parties is a 5th degree felony.