....of course this sum includes the illegals right?
is he insane? and how many of those are adults that work and pay taxes?
McQueen doesn’t get it. Anytime Congress injects taxpayer money into the economy to aid failing businesses means the tentacles of socialism have grown a little longer.
2/3’s of the population don”t pay taxes, it more like $10k per person, household of 4 = 40k. We are running deficits so we are not retiring debt. 20 years from now I’ll probably eating rats. I hope I’m still fast enough to catch them.
Current running total: $1,014 billion
Current U.S. population: 305 million
Number of taxpayers whose tax dollars should be taken to pay for the irresponsibility of others: 0
Maximum amount that can ethically be taken from productive citizens to pay for losses by those acting irresponsibly: $0.00
Total cost if the bailout is done correctly: $0.00
I can't think of a better fix for our financial system than allowing people to reap what they have sown. THose who gambled and lost will learn nothing if they are bailed out, and the problems will recur. In contrast, if the markets are allowed to work, lenders will make responsible decisions in the future based on an honest assessment of the risks, and our economy will function even better in the future.
The truth is that the Democrats killed the bailout so they could blame failure on McCain or at least keep him from getting credit. Like a stopped clock that's right twice a day, the Dems got it right when they delayed this bill.
I am always in favor of less rather then more govt, but that said I think this whole thing is being misrepresented here and in other places.
My understanding and correct me if I am wrong, is that the money is being used to purchase assets which will have a definite value because they are all backed up by real property. Since these assets can at some point be sold, perhaps not for a profit but certainly not for a 100% loss (I know, that’s not possible), at least some if not all of the money may be returned to the treasury as has happened in the past when such bail outs have occurred (Mexico, Chrysler).
WE would not be handing the money to the companies in trouble but rather would be buying their currently non performing assets thereby allowing them to resume their operations. With the proper new regulations put in place to stop this from again happening, things ought to work out for the best.
Where am I wrong?
only about 40% of the US population files and pays taxes
But we pay for affirmative action types such as Rangel that don’t pay their share.
and we pay, and pay, and pay
Only about half of our great citizens participate in tax paying. So it’s about $800 per year, and that is after tax money( yes, you will be taxed, and then the money left over, will pay the tax ) So, you have to earn $1,600 more for the next ten years.
Oh, and by the way, as the economy slows, towns and states will be raising your taxes because of ‘diminished returns’.
Have a nice day.
Mark McQueen is an a$$ and an idiot. He says it’s “only” $3324 per person? In my family, we have 5 people and ONE INCOME. We don’t spend three thousand dollars on a week long vacation, much less $3K per PERSON per weekend!
This butthole believes I should fork over $16,620.00 to pay off bad debt accumulated by people who do go and spend $3K per weekend?!?
What an a$$!
Current running total: $1,014 billion.
The numerator is too low, but what is really wrong is the denominator. There are about 125 million taxpayers in the USA, so first, you don't divide by 305 million, you divide by 125 million, so it's 1014/125 per taxpayer = $8112.
BUT WAIT. This is wrong too because half of the so called "taxpayers" don't pay any taxes so you really divide 1014 by 62.5 giving $16,224 per paying taxpayer,
BUT WAIT. That's wrong too since the top 1% of taxpayers pay 30% of the taxes so (.3*1014)/1.25 is the cost to the hardest working group or they get to pay $243,000 each to the friends of big government who caused this mess.
Why give my $3K to the homeless so he can have a happy life, why not give my $3K to the single mother of 4 or a out of work union employee or my next door neighbor. Hell I got an idea, why don't I become a disadvantage person and everyone else can start sending their $3K to me. Man, I hate socialist.