Author Topic: Bailout Big Business? (Read 7746 times)

slingshot · « **on:** September 30, 2008, 07:51:35 AM »

Let's look at this whole bailout business another way. Why bail out the companies? If there is a bailout, let's bailout the little guy who is struggling to pay his mortage and meet month to month expenses. What would $30,000 given freely to you by the government do for you economically? Invest it in the stock market? Pay down your mortage? Buy a new car? Pay off debt? Retirement fund? Pay for some descrete plastic surgery?

What a better way to help these "struggling" companies than giving money to voters that are free to do with it as they wish. I suspect most would spend it better than the government? Let's call it the TRICKLE UP effect.

I feel certain someone would just use it to buy ammo.

It is political or can be. It is meant to be fun, but interesting.

A youngish person could invest it and be well on their way to being a millionaire by the time they retire. There lots of possiblities. Many are very good.

Manedwolf · « **Reply #1 on:** September 30, 2008, 08:53:29 AM »

The same people who got an ARM through ACORN or Urban League and who now (surprise!) can't pay for it because they have no job or assets would just piss it away on spinner wheels, a new bigscreen TV, and vacations.

Haven't you ever noticed that when people who are bad with money win the lottery, they end up broke again? If someone is bad with money, if you give them more, they'll just lose it, too!

AZRedhawk44 · « **Reply #2 on:** September 30, 2008, 09:05:25 AM »

Quote from: Manedwolf on September 30, 2008, 07:53:29 AM

The same people who got an ARM through ACORN or Urban League and who now (surprise!) can't pay for it because they have no job or assets would just piss it away on spinner wheels, a new bigscreen TV, and vacations.

Haven't you ever noticed that when people who are bad with money win the lottery, they end up broke again? If someone is bad with money, if you give them more, they'll just lose it, too!

+1 and Viva La Manedwolf!

slingshot · « **Reply #3 on:** September 30, 2008, 09:06:00 AM »

What sparked this thread is something Rush L said on his program that the governent could pay off every mortgage below 70K with the $700 Billion bailout package. It made me think... what about half that much as it would be $350 billion then of new government debt. 30K corresponds to about one-year of pay at about $15 per hour. But to qualify, you probably have to be a property owner versus just a voter. (Cry discrimination!) That would reduce the instant blowing and a lot would go into the economy.

Yes, many would piss it away. But the smart ones who are young could set themselves up for life or have a good nest egg to start a business.

AZRedhawk44 · « **Reply #4 on:** September 30, 2008, 09:12:34 AM »

Quote

Yes, many would piss it away. But the smart ones who are young could set themselves up for life or have a good nest egg to start a business.

What everyone is failing to notice is that yesterday, as the stock market tumbled and Europe nationalized several banks...

The dollar gained against the British Pound and the Euro. And oil fell.

If we just up and printed another $700,000,000,000 dollars, the dollar would not rally like it did yesterday.

This correction is a good thing.

ArmedBear · « **Reply #5 on:** September 30, 2008, 09:54:44 AM »

AZ, I agree.

I say, let it ride. Dissolve Fannie Mae and Freddie Mac, stop government intervention in mortgages altogether. Take the pain; there's no way out anyway. I'll take a crash, followed by the inevitable recovery, over prolonged bad times created by this sort of crap. What are 300,000,000 Americans going to do, anyway? Just sit there and not do anything, not buy anything? Where will people live, what will they eat? The economy isn't a magic thing the government creates; it's what happens spontaneously when everyone does what they can to earn money, and spends what they can to get stuff that's worth buying as far as they see it. The economy won't disappear if the government backs off; after the initial jolts it can come back healthier.

This isn't a failure of the market; it's something that people predicted in the late '90s already -- when the pressure to loan to people who couldn't repay, combined with empty promises, began.

K Frame · « **Reply #6 on:** September 30, 2008, 10:06:54 AM »

Not politics.

Headless Thompson Gunner · « **Reply #7 on:** September 30, 2008, 11:19:31 AM »

Quote from: slingshot on September 30, 2008, 06:51:35 AM

Let's look at this whole bailout business another way. Why bail out the companies? If there is a bailout, let's bailout the little guy who is struggling to pay his mortage and meet month to month expenses. What would $30,000 given freely to you by the government do for you economically? Invest it in the stock market? Pay down your mortage? Buy a new car? Pay off debt? Retirement fund? Pay for some descrete plastic surgery?

There are some 300 million Americans. It would cost 9 trillion dollars to give everyone $30k each.

So, how exactly are you going to pay for this scheme of yours?

Marnoot · « **Reply #8 on:** September 30, 2008, 11:32:13 AM »

There's only ~74 million homeowners, but still it would be like $2.2 trillion. Even if only half of those are under mortgage, we're still at $1.1 trillion.

Perd Hapley · « **Reply #9 on:** September 30, 2008, 11:56:00 AM »

Quote from: AZRedhawk44 on September 30, 2008, 08:05:25 AM

+1 and Viva La Manedwolf!

Where do you live? We're sending somebody over to wash out your mouth wif soap. Tongue

Headless Thompson Gunner · « **Reply #10 on:** September 30, 2008, 12:08:35 PM »

Quote from: Marnoot on September 30, 2008, 10:32:13 AM

There's only ~74 million homeowners, but still it would be like $2.2 trillion. Even if only half of those are under mortgage, we're still at $1.1 trillion.

Why give only to those 74 million homeowners? There are hundreds of millions of little guys out there. We're all suffering in this rough economy. We're all struggling to pay our bills. We all need help.

Besides, what's a few trillion dollars among friends. We all need that $30k windfall government free money check. We all have new cars and retirements and mortgages and plastic surgeries we need to buy. You don't honestly expect everyone to pay for that stuff on their own, do you?

undecided

Yeah, or maybe we should just leave socialist schemes alone. I'm going to propose some radical ideas:

Don't give any money to people it doesn't belong to.

Let people keep the money that belongs to them.

Keep the government the hell out of this.

slingshot · « **Reply #11 on:** September 30, 2008, 12:18:50 PM »

Okay, how about $10,000. They were talking 700 billion. That would reduce the cost by one-third. How does that sound?

I know it sounds crazy. But the bailout at $700 billion sounds pretty crazy too.

Headless Thompson Gunner · « **Reply #12 on:** September 30, 2008, 12:21:14 PM »

Giving money to banks who don't deserve it is dumb.

Giving money to "little people" who don't deserve it is dumb.

slingshot · « **Reply #13 on:** September 30, 2008, 12:22:32 PM »

There you go. But who is to say the little people don't deserve it? This was supposed to be fun, not taken too seriously.

Marnoot · « **Reply #14 on:** September 30, 2008, 12:23:49 PM »

Quote from: Headless Thompson Gunner on September 30, 2008, 11:21:14 AM

Giving money to banks who don't deserve it is dumb.

Giving money to "little people" who don't deserve it is dumb.

Giving money to anyone who doesn't deserve it is dumb. The government needs to get out of the "give me your money so I can give it to this poor bank/firm/corporation/bum/tramp over here" business. The "little people"/banks/idiot-corps don't deserve it because it isn't their money.

Racehorse · « **Reply #15 on:** September 30, 2008, 12:29:09 PM »

Quote from: slingshot on September 30, 2008, 11:22:32 AM

But who is to say the little people don't deserve it?

The person the money is coming from. That's me. No one deserves my money except the people I choose to give it to.

slingshot · « **Reply #16 on:** September 30, 2008, 12:32:23 PM »

I feel the same way about the handout to folks that don't pay any taxes. It isn't their money. Why do they get multiple $1000 "tax refunds" when I have to pay every year? Answer.... DEMOCRATS.

AZRedhawk44 · « **Reply #17 on:** September 30, 2008, 12:32:43 PM »

Quote

This was supposed to be fun, not taken too seriously.

"C'mon, guy! Can't you take a joke!"

It all starts as "fun" or an "experiment" with socialism. Then it starts screwing with other people's property and pissing them off.

Socialism. It's a gateway drug.

slingshot · « **Reply #18 on:** September 30, 2008, 12:37:53 PM »

Quote

Then it starts screwing with other people's property and pissing them off.

Exactly. But our tax system is based on redistribution of wealth. Why isn't the anger seen by our politicians? They are buying votes.

Perd Hapley · « **Reply #19 on:** September 30, 2008, 12:44:45 PM »

Tread carefully around the Headless guy right now. He's still waiting for that new sarcasm meter. Tongue

Headless Thompson Gunner · « **Reply #20 on:** September 30, 2008, 12:52:25 PM »

Quote from: fistful on September 30, 2008, 11:44:45 AM

Tread carefully around the Headless guy right now. He's still waiting for that new sarcasm meter. Tongue

That's right! I needs me a new sarcasm meter. I deserves me one. So when are all of you going to buy one for me?

Bigjake · « **Reply #21 on:** September 30, 2008, 12:56:38 PM »

You guys are kicking around the "Deserve" ball pretty hard.

People don't deserve Jack S***. (except Headless and his shiny new meter..)

People can go out and EARN whatever they want. Give those people a big fat tax cut, and help those that help themselves.

The free market works every time it's tried. Washington want's to help Wall Street? Whack the capital gains tax exponentially and see what happens. Cut corporate taxes to a point where they are at least competitive with other countries.

Ain't rocket science. AZRedhawk already pointed out how the correction is having a positive impact right now.

thebaldguy · « **Reply #22 on:** September 30, 2008, 01:15:32 PM »

We should not reward big business for making bad decisions. Period.

End all corporate welfare now.

Headless Thompson Gunner · « **Reply #23 on:** September 30, 2008, 01:24:40 PM »

We should not reward anyone for making bad decisions. Period.

End all welfare now.

Bigjake · « **Reply #24 on:** September 30, 2008, 01:26:22 PM »

Quote from: Headless Thompson Gunner on September 30, 2008, 12:24:40 PM

We should not reward anyone for making bad decisions. Period.

End all welfare now.

Here Here!

News:

Author Topic: Bailout Big Business? (Read 7746 times)