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Well folks I have said it repeatly. Government bailouts out corporation then complains about the corporation on how they should spend their money. Government has no business in bailouts, corporations are doomed to fail then let them fail. The corporation is not at fault they are running the business as they always have irresponsibly. The government rewards that behavior by illegally using tax payer money to bailout a company. NO more bailouts it is not the role of government, government will only make it worse and let the circle continue forever.
Well folks I have said it repeatly. Government bailouts out corporation then complains about the corporation on how they should spend their money. Government has no business in bailouts, corporations are doomed to fail then let them fail. The corporation is not at fault they are running the business as they always have irresponsibly. The government rewards that behavior by illegally using tax payer money to bailout a company. NO more bailouts it is not the role of government, government will only make it worse and let the circle continue forever.
If it were Harley-Davidson going under, and we'd have to go without new bikes, then I'd agree. But were talking about a huge financial corporation. If it goes under, we don't lose bikes, stereo equipment or other non-essential goods. If the financial sector crumbles, people lose their homes and jobs.
I am not sure exactly where you are going with this statement. I do read a lot, and have a pretty good working knowledge of how our economy runs. Please elaborate on what you are getting at so that I can properly respond.
What I mean is that we all have a stake in it. We're not talking about the corner market going broke. We're talking about homes, jobs and the entire economy. If the financial sector crumbles, then everything else comes crashing down behind it.
This is absolutely outrageous!!! Congress made the mistake that allowed this to happen and
now they want to retroactively tax that which was legally contracted for.
To let the government have this kind of power is a very dangerous precedent. The bailouts were undeniably wrong and congress should be forced to take responsibility for the hasty, careless and sloppy way in which they enacted the legislation.
There must be a constitutional implication in this as well. The Founders never meant for government to run amok like this.
Lower tax rates. Get rid of the Capital Gains tax, the corporate income taxes (corporations don't make money, their employees and shareholders make the money), and the Death tax. Slight decreases in personal income taxes would be good too, down to the level where Reagan left them.
That would be a good start.
Wow, we have a road map of how to jump the US GINI index to the status of top 10% highest in the world. Now we just have to prevent anyone from actually ever pursuing this ignorance.
Wow-very disturbing. If they wanted the $$ back-they should have gone directly to AIG. Better yet-there should have been NO bailouts to begin with. Now the solution is a tax-big surprise. The best is I saw Lawrence Summers on tv yesterday and he said that he could not rule out another AIG bailout.
Just wondering, why is there an income limit? Don't we taxpayers deserve all of the $$ back? Seems to me, if you want to punish companies and the employees who received bailouts, then income limit should have nothing to do with it. If you are going to penalize companies who are paying bonuses and who received bailouts then eveyone should be treated equally, should they not?
What are the politiicans going to do with this $$ that they plan on recouping via taxation? Give it back to AIG in another bailout? Fund more programs? Somehow I doubt it will be returned to the taxpayers
If it were Harley-Davidson going under, and we'd have to go without new bikes, then I'd agree. But were talking about a huge financial corporation. If it goes under, we don't lose bikes, stereo equipment or other non-essential goods. If the financial sector crumbles, people lose their homes and jobs.
No other banks buy out other banks, everytime a business that big would file chapter 11 another bank buys them out. Happens all the time. People already did lose their homes and jobs because the government was irresponsible and lowered the interest rates and created "fannie mae and mac" and gave homes to people who probably never could afford them. Then the banks used the idealogy and HAD TO give the homes to them because the government told them they had to and now your surprised when a huge financial corporation might fail because of these practices.
Again once government "decides" who fails and who doesn't it starts a trend and one that never should be practiced in a free society.
Government power is to be limited they are not the judge and jury on corporations and business failures and success.
I like how you conveniently try to gloss over the fact that it's for bailout employees. If your company is getting bailed out, you should have to pay it back some way.
It was in the news yesterday that the government was going to take measures to get the bail out money that went to undeserved Bonuses back INCLUDING taxing it if they had to.
It was in the news yesterday that the government was going to take measures to get the bail out money that went to undeserved Bonuses back INCLUDING taxing it if they had to.
The bonus monies that were recently distributed, and the ones to be distributed to FNMA/FHLMC are lawful - and nothing can legally be done about them. The agreements were signed long before the TARP monies were even discussed.
If these lawfully received monies are now taxed at a rate not heretofore legislated, the recipients / taxpayers will have every grounds to successfully litigate the federal government - and get mega damages from the government - and there are lawyers salivating to take on these cases for free (have the government pay them)
Careful what you wish for.
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