Originally posted by whodeyAnd then you will be a true communist -- for one glorious moment ...
I propose the following. We take the $700 billion and divide it up among every tax paying citizen in the United States. Then those other corporations/politicians can all go screw themselves. We won't need any of them after that. 😛
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Originally posted by Bosse de NageWell if that is being communist, then I am now one.
And then you will be a true communist -- for one glorious moment ...
Really all forms of government are designed to keep the average Joe down including communistic ones. The privileged have always been those in government and in the business world. What I am proposing is something impossible for anyone in power to get behind because it would rob them of their power over us.
Really, that is what made the US special at one time. We actually had a middle class at one time!!!
Originally posted by whodeyYeah, we're all getting frustrated with the antics of our lovable DC Keystone Kops. But you're kidding about this idea, right? We'd only be taking our own taxpayer money and giving it right back to ourselves, less the frictional trading costs. A net negative for us taxpayers.(Meanwhile, the credit markets would just blow up completely.)
I propose the following. We take the $700 billion and divide it up among every tax paying citizen in the United States. Then those other corporations/politicians can all go screw themselves. We won't need any of them after that. 😛
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Originally posted by Mad RookSo instead of giving the money back to ourselves we give it to the US government to buy bad assets? Instead we could give tax payers enough money to pay off their mortgages and get out of debt and learn to live off what they make. As for the stock market, thems the breaks man! It crashed once and it will crash again. Don't worry though, it seems to be just a natural part of its cycle. LOL.
Yeah, we're all getting frustrated with the antics of our lovable DC Keystone Kops. But you're kidding about this idea, right? We'd only be taking our own taxpayer money and giving it right back to ourselves, less the frictional trading costs. A net negative for us taxpayers.(Meanwhile, the credit markets would just blow up completely.)
I know it sounds crazy, so I'll stop now. After all, it is our obligation to give all of our hard earned money to both Wall Street and Washington. They can do far better with our money than we can.
Originally posted by whodeySo you want to reward the people who took out mortgages that they couldn't afford? You want to reward irresponsible behavior? If you do that, I suspect that you'd just get even more irresponsible behavior in the future.
So instead of giving the money back to ourselves we give it to the US government to buy bad assets? Instead we could give tax payers enough money to pay off their mortgages and get out of debt and learn to live off what they make. As for the stock market, thems the breaks man! It crashed once and it will crash again. Don't worry though, it seems to be ju ...[text shortened]... money to both Wall Street and Washington. They can do far better with our money than we can.
Also, by giving $700 billion to the taxpayers, you'd be increasing the national debt by the same amount - not a good idea. (Sort of like Bush's "economic stimulus plan" on steroids.) At least the bailout plan has a chance of actually making money for the government (as described by Buffett), that is, if we can prevent the politicians from looting the funds after all the distressed debt has been resold for a profit in a few years. Also, the Republicans are now talking about an alternative plan that would involve insurance that the financial companies would have to buy, thereby sparing the taxpayers from having to foot the bill. (Although I haven't heard any details of this plan.)
Regarding the stock market, I couldn't care less about the stock market. The problem is the credit markets, which have the capability of plunging us into a global depression. Bill Gross of PIMCO has said that the commercial paper markets have already vrtually ground to a halt. (Meaning that almost no lending is happening in the commercial paper markets.) The longer we dilly-dally, the worse it's going to get. (And I'm talking days, not weeks or months.)
As a Libertarian, I'm really pissed off that we taxpayers are having to pull our politicians' butts out of the fire once again. But this is one time that we have no choice - unless you're fine with having the world go through another great depression.
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Originally posted by Mad RookDo I want to reward irresponsible behavior? No, unfortunately, however, there is nothing I can do to the CEO's and politicians who fleece us. I guess your answer is to try and revive the same system that continues to fleece us. You know is made me ill during the debate as both candidates pointed to the others outrageous spending habits. Guess what, they both are right!! In addition, that is OUR money they are using. All we are doing is asking for a little of it back.
So you want to reward the people who took out mortgages that they couldn't afford? You want to reward irresponsible behavior? If you do that, I suspect that you'd just get even more irresponsible behavior in the future.
Also, by giving $700 billion to the taxpayers, you'd be increasing the national debt by the same amount - not a good idea. (Sort of like ice - unless you're fine with having the world go through another great depression.
So tell me, what is more outlandish. Is it spending more than $700 billion in Iraq or is it giving it back to the tax payers who could bail their own sorry butts out of foreclosure and credit card debt? If you ask me, it would simply be a chance for them to start over and if they have not learned their lesson as of yet, there is no hope for them or us anyway.
Edit: To get it passed all we have to do is tell the Democrats the money will be used to study the mating habits of the African Rhino and to teach children in kindergarten about using contraceptives. As for Bush, he's pretty easy because he won't even read the legislation. Just tell him the money will help "the troops" and then wink at him and say, "Getter done Mr. President!!."