OT Imagine
 

What would to the economy if the govt returned 700 billion to the taxpayers.

regards
gary

They'd buy a bunch of stuff from China and the money would disappear from the US economy :(

On the other hand if it came with the stipulation that you could only buy stuff made in the USA, the domestic economy would flourish beyond belief and tons of jobs would be created

Would only disappear from the economy if that stuff was purchased directly from China, through Chinese distribution, and shipped...in China.


Didn't President Bush set up another $600 tax thing earlier this year? $600 an adult or something.

Let's see, 200,000,000 adults in the US X $600 is $120 Billion. Then families get extra for kids. I didn't see tons of jobs being created by it. I don't think giving me back several times more was not going to help me expand my business to "create tons more jobs."

There arent 200 million taxpayers, and they paid the money to the govt that they are giving away to someone else.

regards
gary

I agree, but there are probably 200 million adults.

I think tax cuts should go to those that pay taxes, which is a higher income bracket, but that's another thread.


Honestly, I want people in jail for this stupid thing that's happening. I want to know how my citizen given power to the government has led to Fanny and Freddie and those accounting practices and bonuses.

You want to know how?

https://www.youtube.com/watch?v=cy-fD...2803B6&index=0

:)

yup! altho many are to blame, democrats were warned about giving the American dream to those that couldn't afford it!...

https://www.youtube.com/watch?v=3QBRIsCkGQ0

Forgive me for not providing a direct reference, but I heard the other day that the majority of the sub-prime loans facing default and foreclosure can be traced to fraud - primarily by the lending agents/brokers. In other words, they wrote loans to people who really did not qualify and sold them on the dream that they did.

I'm not saying that such borrowers are not to blame for their own situation there, but clearly the fault for the this debacle can be laid just about everywhere.

Another point.

If you "save" someone from defaulting on a mortage, you have perpetuated their situation.

By this I mean they will use many productive years to get back to a positive equity situation, and by that time you will start to face maintenance and repair issues that will prolong the day when they have any real equity in their "dream" home.

Maybe not so much of a dream as a real nightmare. Call it invoulentary servitude from a different perspective.

Far better to give those same people the opportunity to buy a much smaller home and improve it when they can afford to do so, without committing so much of their income to a residence, at the expense of retirement savings and other monthly costs, including maintenance.

regards
gary

Agreed.

We actually have one of those so called 'sub-prime' mortgages. But unlike so many who were led down the golden path of debt, we knew exactly what we were signing, and it saved our asses from a far worse credit situation. As such, we have made the changes that we needed to make to afford any adjustments, and if we ever find a buyer for the Mazda, we'll be into a fixed prime mortage in no time. I honestly don't have too much sympathy for folks who didn't do the math up front on what would be the worst it could get and if they could afford it. We did. We can. And we will have used the mortgage exactly the way it was intended to be used, as a short term solution to provide breathing room to fix what we already f'd up!

I say don't bail out anybody.