Bailout bullshit
If $350 billion is left of the $700 billion, give $3,500 to the 100 million lowest income taxpayers. Note that I said taxpayers, which means you have to have paid taxes, so this wouldn't be a welfare hand out. But somehow I think this would do more good for our economy then letting more banks buy each other out and pay bonuses. A family in mortgage trouble might be able to stave off foreclosure with $7,000 (assuming both parents work), and $3,500 could probably knock a fair chunk out of credit card debt. Of course, not everyone would use all of it for debts, some would buy stuff... again good for the economy, plus people relieved of debt would be able to shop again.
The big flaw to my suggestion... it would require people to be halfway smart about money and just not get into more stupid debt or we end up right back where we are now.
And the Big 3...
They are asking for enough money to buy 1 million cars. But what are we going to get? A delay until they are back asking for more money. The auto industry has to fundamentally change. I say let them go Chapter 13, and if they have a viable restructuring plan that removes the gross waste they have now, then we can talk loans. That means the unions' heydays are over... no more guys showing up, clocking in, then going off to take a nap or whatever just because they are union and don't have to worry about it.
Evolve or die, Detroit, because this is your asteroid.
The big flaw to my suggestion... it would require people to be halfway smart about money and just not get into more stupid debt or we end up right back where we are now.
And the Big 3...
They are asking for enough money to buy 1 million cars. But what are we going to get? A delay until they are back asking for more money. The auto industry has to fundamentally change. I say let them go Chapter 13, and if they have a viable restructuring plan that removes the gross waste they have now, then we can talk loans. That means the unions' heydays are over... no more guys showing up, clocking in, then going off to take a nap or whatever just because they are union and don't have to worry about it.
Evolve or die, Detroit, because this is your asteroid.
posted by Oz at 10:28 AM
1 Comments:
The unions are about 75% responsible for the demise of the US auto industry. It's too late to evolve, it's over with. If the government loans them money it will be like giving a crack addict a $20 on the promise that is all he needs to go straight.
As for the bailout, I've had my say. I'm a Libertarian, and no one should even have to ask. LET THEM FAIL. ALL OF THEM. What comes out the other side is better for everyone. Worried about foreign companies taking over? That's what tariffs were for, and that is the reason tariffs on foreign goods were the ONLY TAX established by the founding fathers. Duh! Free trade means we import their shit duty free, and they tax the crap out of our exports. Autos coming into the US are duty free, a brand new Ford Explorer hits the docks in Tokyo and is taxed 23%. Of yeah, fair trade baby.
Kiss is good bye Oz-san, it's game over. The free market is dead, murdered a few months ago by McCain and Obama. Now the Democrats and rino repubs will party on the corpse until nothing is left but bones.
I don't know if we're going to make it through this one. The dollar is teetering on the edge, and if it goes over what comes out the other side won't be the country we grew up in.
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