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Comments
I have worked and paid taxes since I graduated high school in 1992. When I ran out of work noone offered to help me. I had to get a job to pay more taxes or me and my family of four would starve.
Now I am looking at paying more taxes for 2008 than I have made in most years I have worked. Then for someone to turn around and give it to some idoits that have been in business for years, or living above there means for years, or bankers that won't loan any money, or Insurance companies that don't want to pay for anything, or wall street thieves makes me sick!!!!!!
If this becomes an extended bailout past the Q1 funds already earmarked for the D2, then we must fight to get the madness ended.
Regards,
OW
If they act like they are doing something and the economy still gets worse (and this guy thought that was going to happen, in part due to the bailouts), then the administration can at least say they are trying.
If the pols do nothing and the economy gets better (which it likely will anyway - a recession is normal and doesn't need heroic measures), then the emperor's clothes will be spotted lying in the corner and we'll all wonder why we bother electing these people.
The upshot of the show was that giving money to the D3 is just normal behavior by Congress and POTUS, so you may well try to figure out how to get your hand in the pie too.
I'll take a furnace rebate and some clunker trade-in money myself. :shades:
I almost messed up this year because my accountant told me that I needed to spend $20K to keep from paying so much in taxes. I went on a spending spree in December before I realized I would rather pay $5000 of $20,000 in taxes and keep $15,000 instead of buying a bunch of stuff I really didn't need.
I think alot of these CEO's have got caught up in this idea of spend it (on thier own pay and bonuses) so your company don't have to pay taxes on it. Now they have broke the companies (GM, Merrillynch, AIG,Bank of America,Citibank,etc) now there is alot of people out of a job even after being bailed out. I know that is probably not the only reason but I understand this from my own experience.
I thank GOD that I caught myself before I went to far.
I mean, Darrell Jackson's touchdown catch and run for the end zone...where he brushes the pylon(immediate TD should be indicated)and then the 1st half just ends and there's no instant replay and review? Just because the Bus has asthma and he deserves a ring before he retires? It don't work that way, gentlemen. Then there's Darrell Jackson's other TD taken back, where they say he "held" the Steeler defender, then turned around and caught the TD pass? And they're gonna call a ticky-tack offensive interference call? Give Seahawk players, coaches and fans an even break!
It went on like that all game long. Seahawk TD's taken back by phantom flags thrown to halt the Seahawk machine from running up the score on the Stealers.
Now, the UAW has had years, decades to solve their problems and turn their ship around. Seattle's Seahawks had one game consisting of four 15 minute quarters of football. But because of Lost Wages bookies, the NFL head office and several unscrupulous referees, they were denied their chance at a football world title.
Oh, one more to leave you with. Ben Rothelschild's faux-touchdown run, where he was clearly down short of the goal line, the football about 10 inches short of the line. After he was clearly down, he thrust the football across the goal line. The idiot refs signal "Touchdown!"
Let's review it, OK? The ref's review the play and declare that the TD stands. :sick:
Ben admitted on David Letterman's show that the football did not cross the goal line. No touchdown. But many influential, powerful(or power wannabe's)needed Pitt to win. Money was on the line. I've never seen a game in any sport so obviously thrown in one team's favor.
The Seattle Seahawks, 13-3 that year and playing like a juggernaut that was going to roll over everyone, was derailed by a bunch of bought-off referees, Lost Wages bookies and an immoral NFL that allowed it all to happen.
If you don't think anything at all happened a bit weird in that Super Bowl 40, think again. The NFL has declared that that referee crew never ref another Super Bowl again. Why would that be? Do put your thinking caps squarely on before you answer, please.
I will rejoice happily when the Sqealers have their chops busted by the Arizona Cardinals in today's Super Bowl 43.
2021 Kia Soul LX 6-speed stick
The problem: Obama & his bums haven't the testicular fortitude to let "Natural Economics run its course. (Two of his cohorts cheated on their taxes and one lied about dodging sniper bullets in Tulsa)
Their plan is to avoid short term pain and let our unborn generations pay for their mistakes.
Leave the medical system alone. Competition improves the system more than socializing it.
Regards,
OW
They come by it honestly. Political fabrications have been with us since some guy made up the story about George Washington cutting down a cherry tree.
Speaking of throwing dollars away (even if the story about George throwing one across the Potomac is a myth too), can we get back to loans to Detroit please?
I'd rather not, they really don't need any more loans. :shades: Haha, jk. They really shouldn't be given any more loans though...as someone stated above, the idea is basically to avoid short term pain and "oh well" on the long term...that sounds exactly what GM and Chrysler are doing right now, really. Just got to get through this low point while changing as little as possible, and once everything recovers, back to the status quo.
And it annoys me that we have to subsidize it.
Maybe like telling a drunk to keep drinking because he doesn't want to go thru the pain of sobering up? The problem I see is that many innocent people are hurt, and the guilty are walking away with small fortunes in many cases.
I think the government should fund these bailouts by passing a new law - confiscating the personal assets of anyone involved with making these subprime mortgages or otherwise easing credit. Go after any administration too that allowed or promoted this.
He's got the politics right. The October surprise has been fanned to create as much of a crisis as possible (Rahm Emanual says don't let a good crisis go to waste). The big need from the car manufacturers caught them off guard. I think they intended to spend the money elsewhere on pork projects rather than stimulation that really works.
The money for Detroit is real stimulation for the economy NOW now 3 years from now right before reelection attempts. A problem is there is nothing being done about the cost structure of the Detroit 3 nor the UAW problems because they're friends-of-obama, remember FOB during Clinton?
The economy was supposed to be BO's strong suit, so let's bring it on. I'm watching. Detroit is #1 problem we want to see fixed. Housing is #2. Will he fix housing which will fix the economy? Or will he spend money on Detroit 3. If he could get the Dems in congress to give up pork, he could give tax credits for buying a house to new and repeat buyers. That will buy up some of the for sale housing sitting. Once that slowly starts to move, more will loosen up as people who would like to move such as retired folk wanting a smaller home can start buying still more (with a tax credit) and the housing stall will be broken.
Putting that same money into the Detroit/imports problem won't bring the same return but will be more palatable to the porkers in congress (D's and R's both). But the real solution is tax cuts--NOW.
The economy will slowly start to recover. Some action in the markets looks like some people are thinking it is building a bottom. With or without congress and BO. The problem is to spend money to make it look like they actually evoke the recovery before 2010 elections and 2014 they want to have a boom going.
The D3 going bankrupt due to foreign competition will make that not happen on time schedule.
2014 Malibu 2LT, 2015 Cruze 2LT,
I would say the sub prime debacle is far and away bigger than the Detroit problem. They have already dumped close to a $trillion on that fire and it is still burning down the economy. Other than a very localized problem the D3 is small potatoes. The damage to the domestic auto industry is already done. A thousand dealerships bankrupt with 1000s of employees out of work. None of whom make the money the prima donna UAW workers get. What is a couple million more lost jobs with 12 million already on the unemployment roles? At this point throwing money at the D3 will only buy a couple hundred thousand votes. It will cost the Congress millions of votes from folks that are hurting and do not want to finance a losing industry. So far what little we have seen of the Stimulus bill, is pork as usual. The question is will Obama sign a pork laden bill? He preached against it all during the campaign. Without a plan that cuts the UAW across the board by at least 25%, I would be against helping GM. Chrysler is a whole different kettle of fish.
You're not getting a million-dollar bonus, you have no lobbyists in your employ on K-street, and you didn't waste a bunch of money after conning people into giving it to you. Therefore you don't qualify. :sick:
I actually agree with you.
I think I was trying to be sarcastic in my earlier post. I reread it and see how it could come off wrong and misunderstood. I really was just trying to be so ridiculous it was obvious how wrong and misdirected the Big 2 bailouts were.
Free market: YES!
Bailouts: NO! A bailout is the anti-Christ of a free market.
And frankly, I'd rather bailout Larry Flynt than bankers and GM/Wagoner and Chrysler/maker of :lemon: 's.
I was kinda shocked when I got my last mortgage statement. My interest rate just dropped to 3.5%! :shades: Unfortunately it's variable, and I've seen it go as high as 8.5% :sick:
I'll bet we could refinance at a percent and a half less than we're at now on this small house in Willcox we bought in March of '07.
2021 Kia Soul LX 6-speed stick
How come the bailouts don't get distributed to all of the people in equal amounts, that way, no bias can come into the equation.
Donald Trump, Larry Flynt, Wagoner, you, and I should all get the same check from the gov't bailout folks that think this is such a great idea. If we all got big checks, we could all decide individually how best to utilize the money.
Now that would be fair!
So we are going to get Obama handouts.
2021 Kia Soul LX 6-speed stick
Where is this? I'm currently refinancing and have been told that I can get 5.5% .. it dipped briefly to 5.25% in the past couple of weeks, but I wasn't able to lock in at that rate (paperwork wasn't complete).
The good news is that my appraisal came in only $1K less than the last appraisal I had 2 years ago.
Heck, if you used the entire population, not just adults, it would be about $5000 per person!
See, it's a good investment! I'd be doing wonders by hiring the unemployed!
:P
If greedy people would accept their limitations, stay & live within their earnings and budget accordingly, this country would be vastly improved.
Those whose dwellings are being foreclosed didn't earn or deserve those expensive homes/mortgages in the first place. Same with vehicles as they should have purchased a used Ranger, they stuck their necks out for a new F350.
The most economical way out of this mess is to let Natural Economics rule.
Stimulus checks and bailouts just delay the agony for grandkids to pay.
I have a problem with using public funds to stem the tide of foreclosures, too. Sorry debtors, you might have to ditch your mortgage, wreck your credit for a few years, and rent. It's not the end of the world. The housing market still needs a massive correction anyway....one could suspect realtor and property developer lobbyists are as much a part of this type of bailout as the greedy irresponsible banks.
Suspect? I'd say you can bet your bottom dollar the only people who want this kind of bailout to stem the tide of foreclosures are the one's who will directly benefit financially. 100% sure of that.
Heck, more foreclosures mean my condo will continue to be worth less and less than I paid for it almost 5 years ago, but I'd still rather prices plummet as they should as they are still way too sky high inflated. The bubble's only half burst in my opinion. It would have fully burst if not for the 700 billion spent by the gov't to stop the bleeding.
The only bailout I'm for is the one where the gov't reduces EVERY mortgage to every American citizen across the board equally. It should be reduced fairly and equally, with no regard to whether your payments are late or not. If you currently owe 300,000, the gov't could say you now owe 275,000. Similarly, if you owe 1,100,000, they could reduce to 1,075,000.
Now that would be fair.
Stopping the foreclosures is doing nothing but rewarding those who bit off more than they could chew, both for the debtor and the loan owner.
Tuesday, February 03, 2009
ROMULUS, Mich. — Chrysler LLC sales chief Steven Landry said Tuesday that U.S. industry sales could drop as much as 35 per cent in January to the lowest rate in 25 years.
After meeting with Chrysler dealers at a suburban Detroit hotel, Landry told reporters that the annualized sales rate for the month could drop below 10 million for the first time in a quarter century, led by a large drop in fleet sales. Auto makers release their January sales results later Tuesday.
Vice-chairman Jim Press said the Chrysler's 30-per-cent sales drop last year is a sign of vitality because it eliminated 200,000 unprofitable fleet sales that had to be subsidized by profitable models.
Mr. Landry said the Auburn Hills-based company is now making money on every car it sells, despite selling them at employee prices and giving buyers up to a $6,000 (U.S.) rebate plus zero-per cent financing.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
Tuesday, February 03, 2009
NEW YORK — General Motors Corp. will offer buyouts to all of its hourly employees, a spokesman confirmed Tuesday, as the troubled auto maker continues to slash costs.
GM spokesman Tony Sapienza said the buyouts will mainly target GM's 22,000 retirement-eligible hourly employees, though any union employee can take the offer.
News of the buyouts first broke on Monday. A union official told The Associated Press then that GM would offer $20,000 (U.S.) in cash and a $25,000 car voucher for workers who retire early and those who simply leave the company. The official spoke on condition of anonymity because workers were not yet notified of the packages.
Mr. Sapienza confirmed that the offer will consist of a car voucher and a one-time cash payment, though declined to offer more details, saying that employees will be informed of the specifics of the offer on Friday. However, he said the latest offer would be less generous than previous buyouts.
Mr. Sapienza said employees will have until March 24 to decide whether to accept a buyout. Employees who accept the buyout will leave the company by April 1.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
Whereas parts and materials probably cost a significant percentage of the vehicle for other automakers, I'd imagine that the parts Chrysler uses costs little to nothing since they are so cheap, made out of animal feces, and passed off as car parts.
The materical costs to Chrysler should be nil! They must make a killing on every vehicle if not for the UAW.
andre, I know you hate Chrysler a lot, which is fair enough, I can see where a bad experience would cause this.
If you ever actually explained what happened I missed it. Could you just tell us what your really bad experience was? I have bought 2 Chryslers, about 5 Fords and about 10 GMs and though I wasn't thrilled with too many most were ok. Having bought an off shore brand the last 2 times I doubt if I would go back to a D3, but what happened? :confuse:
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
The Associated Press
Tuesday, February 03, 2009
DETROIT — General Motors Corp.' U.S. vehicle sales plunged 49 per cent in January while Ford Motor Co.'s sales dropped 40 per cent, starting 2009 at an abysmal pace for the auto industry as lower sales to fleet buyers like rental car companies weighed down the U.S. auto makers' results.
Japanese rival Toyota Motor Corp.'s sales dropped 32 per cent for the month, and Honda Motor Co. Ltd.'s sales fell 28 per cent. Subaru bucked the trend of declines for a second month in a row, posting an 8 per cent sales increase
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
That is what will ultimately happen anyway. The bankers and auto companies will be needing more. They are laying off the people(taxpayers) who's money they are getting. I thought that was the purpose of these loans was to keep people working.
The more you borrow the more you deduct.
With the bad news in sales today from GM and Ford, this sure is going to translate into further large losses of $, and the viability of these companies continues to dim.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
Well, it was the same before the big meltdown and things were humming along not too bad.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
http://money.cnn.com/news/newsfeeds/articles/djf500/200902041758DOWJONESDJONLINE- 000826_FORTUNE5.htm
I will be driving my Astro to Central Pa. this weekend. After the first 5-6 hours of driving in a straight line east on I-70, I'll hit some curves on I-76 where the Astro will be a bit of work to keep in the narrow lanes. The weather and the gas prices will be good.
all gov't employees (35% of all workers)
all unemployed (15% of all workers)
all auto industry workers (10%)
all charity workers and clergy (2%)
all employees at companies related to the big wall st bailout (3%)
all employees of money losing retailers
all retired
those on welfare, in jail, or stay at home moms
the 20-25% left are the ones who are making a profit for themselves or their company. Some of them think the 10% made up by auto workers working for unprofitable companies are bad for America. They also think that their product is not the best in the world. what about the other 65% of our people not generating any profit? And yes, they are getting gov't money.
Actually IMO, the aid should have started with the suppliers.