With 700 billion dollars, you could give everyone on the planet $100, which is more than a sizable percentage of them will make this year.
With 700 billion dollars, you could give every citizen of the United States $2000 - of course, it sort of works the other way around, doesn't it? We're the ones that will be giving the $2000 to foot the bill for this.
Instead, for 700 billion dollars, we are rewarding companies that were mismanaged. Which means, I presume, that a very small number of already-absurdly-wealthy old white guys will be made even wealthier. And I will still be left trying to make ends meet every month.
I'm sure there's a huge amount about this that I don't understand, but what I do understand is that I am being asked to pay for irresponsible management of huge companies, and I also understand that this is not capitalism. This is corporate welfare. This is a handout. And it's a bunch of wealthy people in government rewarding themselves, propping up their own portfolios, and rewarding their buddies on wall street, completely without regard for those of us who foot the bill.
It makes me sick.
...s-political.html">the Constitution, abortion, and federal vs state jurisdiction
Post 2: Rich on Wall Street and 700 billion dollars Entry Filed under: ...
I think that the government should give each member of every American family a million dollars. These people in turn would be able to pay their mortgages, buys vehicles, spend money and build up the economy by spening back into the economy....It would in the long run save the government several billion dollars.
What is really absurd is that Gov't regulation, through the Community Reinvestment Act, forced the banks to make these stupid loans. It was the only way banks could make their quotas in "underrepresented" areas.
The Gov't should have either A) not forced private companies to provide the Gov't cheese, or B) created a mechanism where the Gov't would fund these stupid loans in the first place.
$700 Billion is simply doing what the Gov't should have done in the second place.
FYI:
$700 billion is a little over $2,300 per US citizen.
I Dont understand this stuff why would i bail out big bussiness if there not even going to look at me twice wheb i need a loan or somthing from there bussiness so i say no
If the people are going to do this knock the CEOs out of Fanny may and freddy mac and make sure those ceos don't get a penny over the millions thy stole already
This is obscene the US could feed millions of starving children, drill water holes in Africa, provide sanitation for millions of communities all over the globe, educate whole cities with this but no it uses it to prop up a capitalist system that is bust. How can Bush, McCain, Obama and all their cronies sleep at night? And they all call them selves Christians!!!!
Economics is a vastly complex field of practice, study and theory involving aspects of finance, statistics, psychology, and randomness.
To that end, I don't even think that the "people in power" truly know what the outcome will be .
If the "bailout" backfires and the government is unable to make a profit, or even avoid a huge loss in reselling their newly purchased securities, then what? It will all have been for naught.
"$700 billion is a little over $2,300 per US citizen."
This is true based off a Population of: 303,824,640 (July 2008 est.) That includes my 5 year old son and so on. Now look at it another way......
As of 2007, there are about 138 million taxpayers in the United States. (The people paying that 700 billion dollar bill.) That comes out to be nearly $5,100 per tax payer. So for a couple (husband/wife) that is over $10,000. Just think what that $5 or $10K could do for millions of households. Not to mention our schools.
The problem we as tax payes are faced with is not of our own doing. This is the fault of the big boys too busy playing golf and sipping wiskey to keep track of the books. Along with this war that has spent more money than god even knows. They screw up, loose large corp money, the corp start to go under. Then they lay off people to make up for the losses. Then those people cant pay there bills so more corp loose even more money lay more people off. People cant spend any money cause they dont have any so other corp start to go under and it will just keep going.
STEP 1:
I say we take that 700 Billion dollars and catch up the tax payers house and car notes. That way the Corps get there money but the people also get to keep there homes and cars. Then we take all the empty homes(owned by banks) that are just sitting around going to crap and cant sell. We take them and sell them with interest free loans to people who do not own a home either never or did but lost to forclosure....(banks are going under..better to get something than nothing for them. Not to Corp or investers or rich people who already own 5 homes but to hard working tax payers who for what ever reason do not own a home. Banks are going under because of the fact they are not getting paid morgage payments. They forclose but banks can't sell them. So sell them to people at current rates, interest free with no credit (most thease people just forclosed). That will at least put people into the empty homes and give the bank a chance to get something. Along with stopping others by paying off back payments.
Step 2:
Over the next 6 months we bring all our soldiers home, along with all the money we are spending on this war. The next 6 mo after that we take all the money we would have spent on the war and use it to get our school back in shape and to start investing in cleaner fuel and energy while opening up many new jobs.
In 12-24 months this country would be rocking and better than it has been in years. We need to start thinking about our future. If we had better schools we might just not of had a bunch of tards running this joint.
Not sure how well that all came out or what I spelled wrong...It is after 2am and I am pissed. Bottom line is I feal if we are going to spend 700 Billion of OUR tax dollars that is ult going to end up in the large corp pockets then we should get something out of it. Win/Win...not they get a pick me up and we get even more screwed.
-Out
Instead of EVERY citizen getting something, how about every citizen over 18? Let's do the math on that one!
BTW, of the 300 million in our population, only 75 percent are over 18. See, the numbers are getting better and better. Also, they should let every American own a home and give them a chance to get these houses that the companies have with government backed loans with better payments just like they can get student loans.
Most of the people who didn't pay are the ones who had horrific interest rates and a house that they couldn't afford. The bubble drove the prices so high that even a moderate home was above what some people could afford. Put some folks in some houses and give the money to the people who can spend it. That will unclog the economy. People don't need credit if they have money to spend! Forget these Wall Street crooks!
Take the proposed 700 billion and pay off every home owners mortgage..that saying of the American dream is owning your own home is a bunch of shit....by the time they get done raping you for 15 or 20 or 30 years and you pay 2 to 3 times more than what you supposedly bought the place for, then you just have to pay the property taxes that you will NEVER PAY OFF... Let alone the sales TAX, the income TAX, the federal TAX, the STATE TAX, THE CITY TAX, THE INHERITANCE TAX, CAPITAL GAINS TAX.DEATH TAX. Hey!! WAIT AH MINUTE.... were not finished paying the trillion or so on that WEAPONS OF MASS DESTRUCTION THAT WE NEVER FOUND DEAL.... I thought that outrageous taxes was part of the reason we came to this country in the first place? Haven't they ripped every body off enough. I know one thing for sure if the common hard working American small business owner did some dumb shit...made some bad decisions... pissed away all the cash...He would be out there LICKING the curb..no bail outs.... get ah job...OH WAIT AH MINUTE.... Those are almost all gone also...Dam now what.... Wal-marts hiring part time....STAND UP AND FIGHT.....
GM
I think the goverment should give all us who filed tax returns last year a piece of the pie. That way we could all spend like a drunken saliors at port. Which is what is about to happen in Washington.
It ain't there's to give aka Davy Crokett
http://www.fee.org/library/books/notyours.asp
$700 billion bailout.What I think the gov't needs to do is an investigation on exactly what happened to money other than the housing crisis. This is too much money to say we screwed up, bail us out. No. It can't be that many people with access to the funds. Find out where the money went (there is always a paper trail or finance trail to follow). Anyone found that mismanaged funds or flat out took funds should pay the money back by what ever means necessary ie sell some of their homes, cars, boats and spend some time behind bars if it is found they did anything illegal. No big pay outs for the CEOs.
For one thing, people shouldn't be buying homes they can't afford. It's also the people that are stupid enough to buy more than they can afford. That's why the credit rate is so high.
It's a bunch of crap that these large bank companies are giving away loans to people that cannot pay them; now we all have to give in to it. I think we should not blame the government but blame the people. It's the American Dream to own a home, but own a home that you can afford.
And GM, if you don't like paying taxes and paying for a home; then go live in some slum city in Africa or Southeast Asia and live in a house of straw and mud. Then you may not have to pay taxes. This is the best country in the world. Quit whining and live with it. Without taxes, we don't have what we all have that this country and government gives us.
At least the government is forging in money to get the economy back on track. It's going to the large companies funding to get them back on track. It ain't going to no CEO or the crooks at Wall Street. It's going to go to the Middle Class Americans who lost money in their retirement funds, 401K, and so the large banks can give loans in an appropriate manner.
It seems that everyone has their hand out! Stop the madness, let's do nothing and let if fix it's self. Printing more money will not solve anything it will only enhance the problem and at best shift it to later generations. If the thieves in Washington pass this bailout then they should all be put on trial for Grand Theft. This is no different than the saving and loan trouble in the 80's where another Bush was involved in criminal behavior.
Why not give every American citizen (approx.) 350 million people, 2 million dollars (approx. 700 million dollars) a clear savings over the 700 BILLION. and then every citizen can certainly pay off their loans, have alot of disposable income to spend and really stimulate the economy!!! More people will buy homes and not default on them. Everybody will be able to afford healthcare too. and the banks, will get their money. Problem solved, using only 700 million dollars,and guess what we could all afford the increased tax bill of 2300 dollars, especially since it would be less, and we would all have 2 million dollars!!!
This bailout is just going to postphone the inevedible .. and force me to have a bigger debt load to bear when the big depression comes.. stocks are trading at ten times value and the dollar is artifically high on the international market.. i think giving everyone a million dollars is a good idea. that would cause inflation to spiral away and 700 billion would be like a weeks paycheck at wal mart.
Justin, I agree with you on the housing part but owning a home IS the "American Dream" and in that "housing rush", I saw my chance at the American Dream go down the toilet when $450,000. houses were in very non-desirable neighborhoods(and people we're BIDDING on them). My wife said we have to buy 'something-anything' before 1 bedroom roach-infested condos reach the $800,000 mark. Thank God we waited. Now, we are closing on a $383,000 house that originally sold for $770k. BUT, it could've went the other way just as easy. We were 'approved' for a $655,000 home and we did go looking too. Point blank, people got desperate. Has a car salesman ever told you he can get you into a $35,000 car with your payments under $400 per month. Same situation.
What's really sad is we can bitch, moan, gripe, cry, cuss, whatever- BUT THE DECISION ISN'T OURS! The government is going to do whatever they want to and we'll just have live with it. Always been that way, always will be.
They should've kept that stimulus check.......
JUSTIN it is stupid brainwashed F---S like you that keep us in this type of situation. Man get a life for real. Im sick of taxes and every intelligent american tax payer is too! d~
700,000,000,000 would afford 4.666 million people to own a $150,000 dollar home. hmmmm
Ok, so the home owner who bought a house "the great american dream" also bought the schtick on refinancing to eliminate unsecured debt or take a vacation or finance a childs college education is guilty of greed. The Mortgage broker sold that schtick and made thousands, every Tom, Dick, and Harry has a hand in the process. The Big Business Corporation decides to outsource and home owner is out looking for the same comparable job . None to be found.
All of a sudden the low interest loan ends and the variable kicks in and they cannot make payments. Hmmmm. Housing falls down, unemployment goes through the roof. Explain the unemployed person who runs out of benefits, what are they, they certianly are no longer counted as an unemployed are they? so the $150,000 house got refied for 190,000 and the owner forecloses, all assets lost. Some big shark comes in behind the deal and buys the house for $70,000. and turns around and sells it for $150,000.
Who's the shark that can afford to buy a spec house? who funds him.
Full Circle home ownership.
The United States Government no longer works. In this day and age there is too much power and money distributed within to few people. The government is run by corrupt and greedy individuals that don't give a rat’s ass about the American people. 700 Billion dollars! Where does this number come from? Congress just decided on a large number and expected everyone to be fine with it? well I'm not. The funny thing with this whole bale out deal is that its Illegal! The government does not have the power to bail out a failing business. Business’s fail every day and its not the end of the world, people just can't comprehend the subject. When something fails it does not just fall of the face of the earth, it is simply transferred to someone else who will run the business. For example Chase bank took over the bank that failed last week and the customers are not suffering in the least bit... yes the stock owners are but by the time a company files for Bankruptcy the stock has already dropped to a point where your losses have already happened. The thing I find so sad is that the Media is making this out to be a good thing, and unless your smart enough to realize what is going on you are oblivious to the matter. I could ramble on and on about this subject because personally I am furious!
I am 17 years old and currently a junior in high school. I plan on telling everyone I know to vote against any congressmen that votes for this bill. This is the most pathetic thing I have ever heard of and if we all work together to destroy congress in the elections we can get this bill revoked! I may not be able to vote but I am the one that is going to have to pay for this stupid decision.
700 BILLION DOLLARS!!!
J.SUL you said, "Why not give every American citizen (approx.) 350 million people, 2 million dollars (approx. 700 million dollars) a clear savings over the 700 BILLION"
Let's get the math right. 350,000,000 people times
$2,000,000.00 is WAY over 700M!!! it's more like way over a quadrillion dollars!! $700,000,000,000 ($700B) divvied up to 350,000,000 (350M) people is only a mere $2,000.
I've seen so many of these errors of math it's driving me crazy!!
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I agree with Eric. The problem is that this generation doesnt fight for anything and passively sits back while their own country is being raped by *** that don't owe their allegiance to any one country. When they *** this one up, they run off to their ocean bluff villas or swiss chalets. I want names. I want accountability. I want an America that does not have a future shaped by greed and corruption. Corrupt government officials impair the integrity of this great nation. Hang them.
Debroah
Concerning math errors. First of all there are only about 300 to 301 million people in this country, not 350. Secondly only about 75% of these people are over 18 and have a social security number. If the 700 billion was divided up to all the people who paid taxes in 2007, it still wouldn't add up to very much. The real problem is that the people who caused this mess get bailed out and still get their golden parachute retirement while regular taxpayers get the shaft.
The government has no money. It takes money from each of us in the form of taxes. All that money is OUR money.
The democratic congress is already trying to set aside some of the 200 billion for pet projects. This stuff has to be stopped. Our government has turned into nothing more than a bunch of gangsters who think of themselves as royalty and think of us as working trash.
700 billion in united states notes. also, dissolve congressional partnership with the central bank, and demand return of assets to the control of congress. use anti-trust laws to break up the vestages of the federal reserve system. congress must strictly regulate the money used in the united states. americans would buy money from the government of the united states under congress for at a fixed rate, calculated so that risk is spread across the market. this should discourage rate bidding and other gambling schemes found in "banking institutions" in america and abroad. banking is a simple business, money is too. let banks carry their own burdon of risk. good banks will prosper, and bad ones will be gone forever. and the people will always have an ample supply of money, without debt. ps, dont forget to get the gold back in circulation. gold and silver always have value in trade. along with food. (but thats another story)
ps put people to work building factorys that make tools. time to get back to work.
I've posted this link on my Continuing the Quest blog:
http://continuingthequest.blogspot.com/2008/09/700-billion-dollars.html
"...700 billion dollars, we are rewarding companies that were mismanaged. Which means, I presume, that a very small number of already-absurdly-wealthy old white guys will be made even wealthier. And I will still be left trying to make ends meet every month."
Very well said, Rich. Excellent article, and I've enjoyed the comments as well.
According to the US census. There are aprox. 305,000,000 tax paying Americans. If the government would give $2,000,000 to each tax payer. This would amount to $610,000,000. This is still less than one billion dollars. As a tax paying American, I have paid taxes for over 35 years, of which I will never reap the benefits. But several American companies sure have, in the way of bail-outs. No one has ever bailed me out. I firmly believe it's our time the tax payer needs the bail-out not companies.
If the U.S was to give each tax paying American a one time $2,000,000 payment with stipulations to pay all of their underlying debt(s, credit cards, home loans, student loans ect. to all of these companies we are bailing out. The problem will correct itself, because the companies will no longer have bad loans on the books. Each tax payer would be required to place a good portion of the payment in a safe retirement investment. This would free up the Social Security system for the truly needy. People would spend the win fall on stuff; this would spark the economic wheels to roll on. More jobs would be created, because some of Americans would start businesses which lead to jobs.
Why don't our elected leaders see this? Is it because they are all greedy or just don't care about the American tax payer?
Each year our government gives tax payer money away to foreign countries to help them build up their country. While we (tax payers) sink deeper into this perpetual quagmire.
I would bet everything I have to say I do not think any American could argue about my stimulus plan; And if they do, simple do not give them the money.
The bottom line is this; we are a capitalist country. If a company was poorly managed then it should be left to dig out of fail. Companies only need a bail-out because of poor business practices.
I say if you want to bail someone out bail out the tax payers, get the dam government out of the way and the rest will take care of itself.
Join my fight pass this along
Chris
I am Pat Jack.
I am an, Ambassador, (http://push.pickensplan.com/group/delegates), for the Pickens Plan, (http://www.pickensplan.com) online.
Searching google.com just a week ago, Pickens Plan owned top google SERP for the phrase:
700 Billion
Media organs of the banking failures have hijacked Boone Picken’s 700 Billion keyword phrase. It’s arbitrarily important.
Blogs and media currently returned in top google SERP for “700 Billion” were pushed to the internet in advance of bush’s speech, written and refined in advance of whitehouse full disclosure the banking failures crisis in the United States of America. The dance was timed perfectly, I salute the shadow; Watch.
A google search for “700 Billion” no longer returns top SERP pointing to Pickens Plan documents.
The U.S. government has orchestrated an online campaign to Co-opt Pickens Plan SEO.
700 Billion dollars leaves this nation to pay for foreign oil imports this year and for the next 10 years. A TRILLION dollars leaves America over the course of 10 years while Iran retools transportation to run on natural gas.
1.4 trillion dollars leaving our economy this year, the budget, the war.
Developing a domestic energy economy based on domestic resources to reduce the crippling dependence on foreign oil, (the cycle of war and terror for resources), is a heroic.
The U.S. Automakers will want their $700 Billion bailout.
1.4 Billion in bailouts, plus the 700 Billion for oil imports this year.
I will throw soup and bread at them with you.
Join me at http://www.pickensplan.com
Pat Jack
I would just like to say that this is crap. I just got finished paying off the IRS after they froze my bank account and came after my assets so after paying a payment plan for 6 months and then paying 3500 dollars with my tax return I've finally got them out of my life or so I thought, lol Anyways what I'm trying to get at is the government started this problem by changing laws to help big business and now they screwed up big surprise but notice no where in there did i say you or me nope they did it they fix it IM not paying for this !@#$ so if I have to stop paying taxes or move to a better country then so be it Im a vet. and Im tired of getting screwed by the people I chose to protect.WTF, is wrong with them to believe anything BUSH says. Don't Give In, Never Surrender thats what they teach you in survival training. Obviously they aren't taking there own ideals into consideration. So if your with me, Hell ya if not #@$%-off.
I would like a check.
"350 million X 2 million = 700 million"
It's this stupidity that got us into this mess in the first place. C'mon people.
Mr Swanson,
305,000,000 x 2,000,000 is 610,000,000,000,000
That's 610 TRILLION dollars.
It's baffling to me how folks can't do simple multiplication, and how they think that the government just has money to hand out.
Here's a hint. The government has money because we, the tax payers, give it to them. So for the government to give us money, they'd have to get it from us.
I'd say, do the math, but it's apparent that you can't.
The main problem is that these securities that are backed by mortgages apparently don't have a market. I really don't see why the mortgages backing the securities are not just sold. At least there is still a value in the market for a house. I understand that the value of the paper is hard to determine because the default risk isn't easilly determined. However many people did fill out IRS forms to check earnings that were never checked. Although it may be a job to do, those documents should still be available and should be able to be matched with the securities and then the credit worthiness of the borrower checked. Then these re-rated securities should have a value and the government could ensure development of a market for the securities.
I am in shock after reading these post......so few people and so many math errors. Scary......very scary. Put pencil to paper people, use your God given calculator and do math the old fashion way........ and you will see.
I think the government should give money to adults of a certain age and in a particular earning category and let them put the money back in circulation.
OK lets do the math again figure out of 350 million tax payers making under 150k a year gets x amount of dollars.(Like those greedy bastards would give us our money) I have fought for this country, worked for this country and suffered by by the hand of Bankers and Politicians. You work to make this country what it is your Mother and Father and so on and so on. It is time for us to get a break. Let us know what it feels like not to worry if you get hurt where the money is going to come from. We sit and listen to the richest of the rich tell us what they are going to do for us. What a joke when has the Clinton's, Bush's, Obamas's or who ever next comes down the line ever had to worry about filling up there gas tanks they don't even fuel there own cars or schedule there own doctor appointments they have people like us doing it for them. Wake up people It is time for us to put are foot down. The amount of money that actors or talk show host's make is insane for what they truelly contribute to the world they live in. IS NOT WHAT YOU DO AS GOOD or not BETTER then what they do. We are the ones to blame. Sending your children to schools that teach nothing but the same bad behavior that has made us know as one of the hated countries in the world. Our values are gone in this country. Where is the Leader that will stand up for the Hard working men and women. We only get to be dazzled by a TV to watch what our hard work pays for. The wealthy people of the world need to stop living in the past. We are still all slaves to the Rulers of the world. It is time for us to accept or true potential and stop letting our selves be controlled by people that are so blind to what is right because greed as manipulated there minds. People Keep trying to Fix something that is Broke. Change is hard for anyone to overcome. But if we could all understand we need to help one another when we fall instead of walking on someones back to feel like they are getting ahead needs to stop and realize they are only hurting them selves and everyone around them. STOP THE MADNESS!!! Do You Get It!!!
I have a plan that would save 700 billion dollars.
I would like to outsource all of the politicians jobs to overseas.
There is not one thing that requires us to interface with our politicians face to face, all of this can be done on the web or phone.
Instead of comming up with ways to spend money we don't have why don't some people start trying to pay the debt we already have. 2 to 3 thousand per tax payer is 700 billion,
thats a good start on the 10 trillion we owe, so how do we get there from here.
I don't think giving money to people that don't pay taxes makes since at all (alot of american citizens on gov. handouts) The money needs to go to the middle class' b/c they keep the econemy moving. Giving money to big biz makes no since b/c they are there b/c of their own faults. The middle class will help the econemy move, but 2,300 a person will not a thing at all! What is that going to pay off or help people on the edge?????
With so many out there who can't seem to get the math right it's a wonder also that so many are struggeling with their personal budgets. When you look at the housing market and how they sold homes at such incrediblly low interest rates, did any of them think to look at the possiblity of the future as well? A lot of homes were sold with low interest for the first few years then the rates would go up. Hoping that they could sell their home before them and make a profit, many homeowners got stuck with homes and loans they couldn't afford. Seemed like a risky business to start and when you throw in bad math skills yet. Seems there was some greed there too not just in wall street. Greed is what gets everybody in trouble every time. The love of the dollar, whether you are a Wall Streeter or a Main Streeter.
Materialism gets you in the same boat as greed. We have an extra buck and bingo we spend it on some useless stuff we really don't need. We are a materialistic, greedy, money loving society and our government is a reflection of that as well. So don't blame JUST the top dogs out there, unless you can truly look your own pocket in the eye and be honest. This country needs a bailout plan of some sort, they just need to get the details in agreement fast. And everybody needs to change their spending habits including the government.
Part of why things like this get passed is the fear of Congress that, when things get bad, they will be thrown out of office. They'd rather look like they were doing something.
If this bailout is passed, it may cure things... for a little while. It will just continue the easy credit and low interest rates (with relatively little creditworthiness) that we have grown accustomed to in this country.
What would happen if it didn't pass? Well, maybe (a BIG maybe) there would be more scrutiny or creditworthiness. Maybe department stores and big box stores of all kinds would have less "zero interest for 2 years" type deals. Maybe car loans would be scaled back to 4 to 5 years (instead of the increasingly popular 7) and more trustworthy credit would be demanded. Maybe home mortgage rates would rise (after all, it wasn't THAT long ago that 6% was a total pipe dream, and now it's considered "high").
Times might be painful because spending based on credit could plummet. Even if you are responsible, you might find yourself cut back as your employer may have less cash rolling in (from easy credit).
And I think it is this fear of things getting worse before they get better that makes this class of outgoing executive and legislative feds want to look like they tried. Then they'll be more than happy to dump it all on who is next.
But you know... maybe things have to get a little worse to establish a solid foundation to build upon for the next few decades?
Funny thing is, this is all the doom-and-gloom scenario. It may not even come to pass. The money to be made by being a massive creditor is pretty damn good (ask GE, GM, and Ford. Are they really in the car business or the "everything" business in the case of GE, or are they really in the "we have to produce something that we can sell on credit so we can make money on revolving interest payments" business?).
Like Eric put it "REVOLUTION...TAKE BACK YOUR COUNTRY" We need real change from the bottom-up, not another ritualistic "change" of the gaurds of wealth. The majority of the Democratic party supports the theft! Meanwhile, the Republicans stand next to the raging fire with their buckets of stolen gasoline, championing the reckless free market economy that got us here in the first place. It is not the time to sit on our asses and do nothing while the corporatist state robs us blind. ORGANIZE!
Yea! What they said.
It's time to takeing names and kicking these politicians who back these absurd bills out of office.
Dear American idiots.
Pleas learn how to multiply 2 numbers.
Trust me, 200x300 is NOT 600.
Stupid people deserve stupid leaders ;)
I think that America is dumb. They have caused the upmost comments in the world. They are the cause of most of the problems happening today. We should put a stop to America before it is too late. Why does the world have to pay for their mistakes (H) dumb dumber or dumber ???
Bill Gates can resolve this issue with the stroke of his pen on a blank check. Thats the least he can do for anyone that bought Windows ME and Vista.....
I'm sick as well. I haven't found a single person in favor of this. I heard phone call and emails are running 300 to 1 against the bill and yet 74% of our Senators are voting for it. How long before the US dollars start looking like the Zimbabwe dollar?
I got the Phone call to vote against the bill, but i was in the shop and couldn't hear, please call me back lol. Founder of ionizationx.com
Br Hydrocars, Please Stand up against this bill!
Some people on here crack me up and it really shows how are education system has worked for us in America. I loved the posts that explain to some of the posters how $2 million x $350 million is not $700 million. It would actually be $2000 per person. If the other mathemeeticians would have read the article they were posting about, they would have known that without straining their tiny brains too much.
If you bail out all the people that are in foreclusure, that's great for them. What happens to the people that are trying to be responsible and scraping by to actually pay a mortgage on a house that they can barely afford? The way the cost of living has gone up lately it's tough. Do the responsible people get a break, or is it only the people in foreclosure?. I can surely find somewhere else to spend my mortgage money.
I think these politicians should be on trial for treason.
This is a complicated issue... confidence in the market and the depression which we are entering will not fix itself, government intervention is critical. Many of you are also right in that who should pay for this 700 billion, the middleclass and the poor? How can we fix inequality? The real cause of this problem is oil consumption and socio-economic inequality... If you have to look up these words I highly recomend this. If there is one person to blame Its G W Bush, and yes by the way he is a wealthy person... like all the people who are corporate theiving bastards. The answer is simple really, be a better christan be humble, make some sacrifice, vote, dont buy gasoline at all, and plant a garden help someone less fortunate than yourself, lead by example. Please i beg you wake up we are in a paradise of resources here in america use them wisely
well this is one thing i cannot understand ... us banks are failing ... iceland has frozen ... india has a growth rate of 8% + p.a. ... but why the hell is the dollar trading higher (risen from 40 to 48 to the rupee?)..... when it is quite clear that the us government is probably going to have to print 700 billion from thin air ..and nobody has confidence in the american economy which will probably have a 0% growth next year if luck (though expected negative growth).... why does the dollar keep spiraling upwards?
outsourcing will increase in the next year since it is cheaper to pay an indian (1/4th of what you would pay an us citizen).... so predictably us citizens will loose jobs to outsourcing .. those with jobs will have to pay for the 700 billion .... the good thing is that oil prices are falling so at least the republicans will feel the pinch a bit !!! the democrats can forget health insurance for a few years to come .... with wall street insurance being the primary focus of the government (no doubt as they contribute most to the upkeep of the ass and elephant)....
I just had the unpleasant experience of NSF fees from using a debit card. Not just one fee, but several. When I called WAMU to say - yeah, I made a mistake, but do you have to make it so painful? Their reply was, ironically, learn to manage your money better.
They are completely correct, and it works both ways. Banks should learn to manage their money better. Why should we be giving 700 bln to bail the same people that have been financially raping America, both as a whole, and individual citizens. Banks managed their money poorly and now they are looking for bailouts ... I don't think so. C-level management, poney up your salaries, and bonuses, and nice cars ...
Quote from somwhere upp there
,,According to the US census. There are aprox. 305,000,000 tax paying Americans. If the government would give $2,000,000 to each tax payer. This would amount to $610,000,000. This is still less than one billion dollars. As a tax paying American, I have paid taxes for over 35 years, of which I will never reap the benefits. But several American companies sure have, in the way of bail-outs. No one has ever bailed me out. I firmly believe it's our time the tax payer needs the bail-out not companies.
If the U.S was to give each tax paying American a one time $2,000,000 payment with stipulations to pay all of their underlying debt(s, credit cards, home loans, student loans ect. to all of these companies we are bailing out. The problem will correct itself, because the companies will no longer have bad loans on the books. Each tax payer would be required to place a good portion of the payment in a safe retirement investment. This would free up the Social Security system for the truly needy. People would spend the win fall on stuff; this would spark the economic wheels to roll on. More jobs would be created, because some of Americans would start businesses which lead to jobs.
Why don't our elected leaders see this? Is it because they are all greedy or just don't care about the American tax payer?
Each year our government gives tax payer money away to foreign countries to help them build up their country. While we (tax payers) sink deeper into this perpetual quagmire.
I would bet everything I have to say I do not think any American could argue about my stimulus plan; And if they do, simple do not give them the money.
The bottom line is this; we are a capitalist country. If a company was poorly managed then it should be left to dig out of fail. Companies only need a bail-out because of poor business practices.
I say if you want to bail someone out bail out the tax payers, get the dam government out of the way and the rest will take care of itself.
Join my fight pass this along
Chris''
a part of the text,,As a tax paying American, I have paid taxes for over 35 years, of which I will never reap the benefits''. The reason for thath is that they dont give stuff to ppl who didnt even learn thath 20x20 dos not equal 40 it actually 400 so saying ,, If the government would give $2,000,000 to each tax payer. This would amount to $610,000,000´´ is just pure stupitity i know its hard to realyse that 2.000.000x305.000.000=610.000.000.000.000 not 610.000.000 now seeing as how im 14 and you ar 53 (18 plus 35) you are a complete retard indeed. THE GOVERMENT OF THE USA DOSNT HAVE 610 TRILLION DOLLARS TO GIVE EVERYONE 2 MILLION. oh and im from iceland so sry for spelling.
I guess that's what I don't understand. Why would we spend that large amount of money when there are probably some cheaper options?
Why not just pay off the loans? Wouldn’t it serve the same purpose? Except what, then what some would be getting a free ride and that wouldn’t be fair? That good old American pull yourself up by your bootstraps every man for himself mentality hard at work.
I don’t know. I live, work, play, and struggle in this country everyday. I don't even own a piece of my homeland. My mother didn’t and neither did her mother before her. Probably the last time a woman in my family saw land that our family owned was the generation before that, and it was more than likely on a reservation.
As for me, a divorced mother to three boys living in what is defined by this state as poverty, it wouldn’t even take that much money to fix all my problems, about 30K for debt and you can get a nice home for 120K in this area.
I don’t even want a hand out, can I get an interest free 150K loan, with a payment that I can afford, that maybe forgives two payments for every 10 payments I make on time?
Problem solved, me + 3, no longer in poverty, debt free - our lives repaired. 150 thousand punk ass dollars and they gave rich people a 700 billion dollar reward for screwing up. I work hard and I get to be poor and work harder. They mess up and the government that taxes the little bit of money that I do make, takes mine and gives it to them.
I have a lot of confidence in our government and our economy now. How do you make that smiley that rolls his eyes?
MBM
Maybe we should be told in the first place where and how 700 billion dollars has come up short in our economy. If it was spent here in our economy then it will show up eventually. Lets find the money.
Approx 46 million stimulus payments were sent out this year to Americans. Most got anywhere from $600-$1500 depending on their filling status. If you broke up $7 billion between those same 46 million people, that would be $15,217.39 to each of those people. I'd image that giving the average middle class American making $30k a year 6-months pay would do wonders for the economy. I don't think we should be spending this money at all... but if they're going to do it, I can think of much better places to allocate it then the pockets of millionaire wall-street tycoons.
One of the flaws with "giving" Americans money is it can, for some, breed laziness. What I recommend is that every tax-paying American, regardless of income, be given vouchers. Vouchers that are worthless under a mattress, vouchers that cannot be banked, vouchers that can be used solely for a down-payment on a home (The big part that most renters cannot afford.) or vouchers for AMERICAN MADE products... You know, the products that help build our countries econmy by creating jobs and AMERICAN stability. How about this one, start taxing the heck out of American business that move their production, all or in part, overseas. I am not stupid, I do understand that imported materials and the like are a necessary part of production, but a company that is vested in America that maintains their production overseas be chiselled until they do something about it. Let's go on another tangent, infrastrucure and education. Bridges collapsing, more to follow, schools and the entire education system eroding... I am a firm believer in "Sin Tax". I would gladly pay an extra nickle for every beer I drink, and that's alot... Think about it... One nickle on an abundance of "Sinful" expenditures??? Bottle of beer, a lottery ticket, a pack of cigarettes, a pair of pricey shoes. States could run their own "taxation" programs and also impose a tax, payed by the manufacturer (Big-Business) of any product manufactured overseas (already being done, but increase them). So many things could be done to generate revenue to re-build our country. Yet most people think the only answer is to give me...
How much will george get out of this 700billion dollars? why only select few company's? why not lehman brothers? why AIG? was it becasue george does not have investment in Lehman? how much is george investment in AIG? think!!! self interest? who's going to be wealthy alter all? the top executives.... and of course, whoelse?.... george? bush?