Stop the bailout
I just can’t say that I support the bailout. The notion that we have to get this passed really quick and we need absolute power sounds like the biggest fraud pulled on the US Taxpayer since the build up to the war. I have so little trust for the government at this point.
There are a few ideas out there that seem to make a little more sense then King Henry’s plan.
Dave Ramsey has what he calls a common sense fix to the financial crisis:
Dave Ramseys Common sense fix.
Dave Makes sense – until he gets to the part about lowering capital gains to zero. I understand that higher return on investment attracts investment into this market. Long term capital gains are only 15% . That is less than half our ordinary income tax rate.
To say that it will not cost taxpayers — is just NOT ACCURATE. It will cost the taxpayer future revenues that we are expecting to receive for programs we have already committed to.
Dave sounds like our tenants that ask us to upgraded property. (an automatic garage door opening system, for instance) When we tell them that we won’t pay for the improvement — their next question goes like this:
What if I pay for it and we can take it out of the rent? The answer is the same —No I am counting on that revenue to pay my obligations associated with this property. (For instance the mortgage)
Another gentleman had an interesting take on this issue. Karl Denninger is the gentleman in the video..
You can check Karl’s daily updates– I find them facinating. at Fed Up USA
What do you think?
