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    U.S. Bailout: Plan Reversal

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    Kyouri Kai
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    U.S. Bailout: Plan Reversal

    Post by Kyouri Kai on Wed 12 Nov 2008, 2:19 pm

    It would almost be laughable, since most that I spoke with saw it coming anyway, except for all the lambs that decided to follow their shepherds to the slaughter house, are about to get their first liberal wake-up call. (Just whose side is Paulson on, anyway? Idiot!)

    The $700 billion ($850 billion in total) bailout package that democrats spouted throughout Obama's campaign would go to help struggling homeowners pay back some of their mortgages and allow them to keep their homes has just been taken down the avenue that I assumed it would be. (See World Bailouts and Lower Petro Prices.) The U.S. government is going to buy up stocks in the major financial markets, giving the government stock-holder status over the companies that lend money, and even over the companies that affect the citizens in a financial way although they're not literal financial institutions, i.e., the auto industries.

    For more details, see "Paulson: Troubled assets will not be purchased"
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    Watari
    roku'dan
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    Re: U.S. Bailout: Plan Reversal

    Post by Watari on Thu 13 Nov 2008, 5:44 pm

    Well the way it seems to me is that the Bush Administration is trying to do all they can before Obama steps into office and doing what they're doing here just justifies why I hate Bush so damn much, his whole administration is just full of mentally deficient asshats.

    I certainly hope that the deal doesn't go through till Obama takes office because really what they're proposing here is just something that's really going to screw over the American people, the last thing we need is for people to start taking out loans again especially when they can't afford the damn things! Also bailing out the Automotive sector is a big NO NO in my book as well, really the Automotive sector could do better if they were just a bit smarter and not over produce everything they make.

    Don't know, just some of my thoughts on this matter, I hated the idea of the bailout and this just secures my reason to hate the bailout and everyone involved in it.
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    Kyouri Kai
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    Re: U.S. Bailout: Plan Reversal

    Post by Kyouri Kai on Thu 13 Nov 2008, 6:55 pm

    Agreed! This last bailout package was not a good idea! And as for the auto industry bailout, it's the dems that want to give them more. There are republicans screaming left and right 'NO', and if they're going to get their additional bailout anyway, then it should come out of the $700 billion and not create a further deficit.

    I'm not so sure this is the Bush administration pushing it through or not. Paulson has been dubbed to be in alignment with the dems, even though he's treasury secretary. So.. i don't know

    And what does it matter when the deal goes through? It's a bad deal no matter who the sitting the president is at the time it's passed. And let's not forget that Obama started out saying that he would raise the taxes on anyone making over $250K/yr and in the closing week stated it would be anyone making over $200K/yr. How many more Americans were just added to the till with a lowering of $50K? oops

    But in the end, I'm just going to sit back and watch the show.. with commentary every now and then, of course. *grabs a hundred cases of microwave popcorn*
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    roku'dan
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    Re: U.S. Bailout: Plan Reversal

    Post by Watari on Thu 13 Nov 2008, 7:10 pm

    Kyouri wrote: I'm not so sure this is the Bush administration pushing it through or not. Paulson has been dubbed to be in alignment with the dems, even though he's treasury secretary. So.. i don't know

    Well... lets look at this beginning piece from the article you linked "In a stunning turnabout, the Bush administration Wednesday abandoned the original centerpiece of its $700 billion effort to rescue the financial system and said it will not use the money to purchase troubled bank assets."

    Even though Paulson may be in alignment with the Dem's he's part of the Bush administration and one could only hope that Obama will get rid of Paulson as Secretary of Treasury because honestly this guy doesn't know his asshole from a hole in the ground.

    As for Obama's tax plan *shrug* I've always been for taxing the rich more and more.. so it works for me in essence. The rich can afford to pay a bit more taxes, so many of them hide behind their deductions and what now while the poor, what do the poor have?? nothing really, What Obama needs to protect are the people making 0 - 150K those are the people right now that get taxed the most and the hardes, generally speaking people that make more than 150K have more deductions to hide behind. Notice I did use the word generally
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    Kyouri Kai
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    Re: U.S. Bailout: Plan Reversal

    Post by Kyouri Kai on Thu 13 Nov 2008, 8:12 pm

    The only problem with the tax issue, is that alot of small businesses fall into that $200K/yr bracket. If their taxes raise, they'll raise their prices, and we, the lower waged people pay more. And that's if some of those small businesses can remain open.

    I agree that Paulson is a nub, but I really don't know much about the whole office of Secretary of Treasury to speak on it.
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    roku'dan
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    Re: U.S. Bailout: Plan Reversal

    Post by Watari on Fri 14 Nov 2008, 12:39 pm

    I'm sure there will be something in there for the small business, after all America's economy thrives on small business, without small buisness then larger corporations would be a basic monopoly and price of goods would then definitely go up, that much I can agree with you on.

    But essentially I see his tax plan going something like this (now I could be wrong but I hope I'm not), tax the individuals making 200K or more a year and give small business a tax break (after all small business should be treated like low income families if they're grossing 200K a year because after bills and all that they're actually probably only netting 50K) I just can't see how a system is just if they tax the poor more and tax the rich less, I'm a little confused on how that makes sense so Obama's plan to tax the rich more just makes sense to me but I think he's got to be cautious with who he considers rich and what not.

    Either way things will be interesting, it seems that Obama is having some talks with Mrs. Clinton and has set up a meeting with Sen. McCain so it'll be interesting to see where things go from here.

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