I think a better use of the stimulus would have been to pay off the mortgages. It would have prevented this foreclosure fiasco we are experiencing...banks would have got their money and people would have been able to spend money on other things which would have helped the economy. Same with the GM bailout and cash for clunkers. Give people money to buy new cars. They trade their old cars in for scrap...get new more fuel efficient or even hybrid or electric cars...the auto industry would be making money and have increased demand and then be able to hire more people, who would be spending more money and increasing demand further...
-----Original Message----- From: Gruss Gott [mailto:[email protected]] Sent: Tuesday, April 19, 2011 03:09 PM To: cf-community Subject: Re: [politics] Cost of tax cuts for the rich exceeds gains by budget cuts G Money <[email protected]> wrote: > So remove or limit the loopholes, rebates and shelters that are > available only to the super rich (whatever those are). Do you have an specifics? > Our situation is actually that easy to fix. Getting rid of the loopholes alone would allow a top rate tax CUT from 35% to 30% and would still easily pay down the debt if we included modest spending cuts. Of course that's not going to happen due to lobbying which is why our debt was downgraded. Further the US has 3 other problems: 1.) we're addicted to a global consumer economy (cheap consumer goods) 2.) we're mortally connected to the global monetary economy (existing US system will crash with a world crash) 3.) we're mortally connected to oil And finally, all of the existing structures that caused our crash in 2007 are now all WORSE. A great example is JP Morgan's Jamie Dimon complaining about how he can't unload all of his mortgages, "We have homes sitting there for 500 days rotting that we can't do anything about" while at the same time getting rid of his loan-loss $$$. The FASB allows him to do that. Oh, by the way, the CFO of Wells Fargo suddenly resigned a few months ago and last week the CFO of Bank of America resigned. Could be coincidence or could be they agree with Robert. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:336490 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
