FBI is now investigating Fannie Mae, Freddie Mac, Lehman Brothers, AIG
09-25-2008, 03:58 PM
#61
Why should the rich pay more than everyone else? Becuase they work hard for their money? Becuase you are jealous of what they have? There are some rich people out there who have not earned what they have, but why make a blanket statement involving all of the rich?
Why do you say Steve Jobs is a douche bag? Because he makes the most user friendly tech accessories available on the market?
Why do you say Steve Jobs is a douche bag? Because he makes the most user friendly tech accessories available on the market?
09-25-2008, 04:00 PM
#62
Why should the rich pay more than everyone else? Becuase they work hard for their money? Becuase you are jealous of what they have? There are some rich people out there who have not earned what they have, but why make a blanket statement involving all of the rich?
Why do you say Steve Jobs is a douche bag? Because he makes the most user friendly tech accessories available on the market?
Why do you say Steve Jobs is a douche bag? Because he makes the most user friendly tech accessories available on the market?
they better not be paying as much as i am
09-25-2008, 04:01 PM
#63
Old School
iTrader: (6)
Join Date: Jan 2001
Location: Union City
Posts: 14,983
Car Info: '99 RBP GM6
The bailouts are necessary to prevent the American economy from completely melting down. The $85 Bil given to AIG is supposed to be a loan, but I doubt we will see the day where dollar 1 gets paid back. There is also a temporary moratorium on short sales and that is not what ruined the financial sector. Bad loans due to relaxed lending standards, predatory lending and aritifical inflation of housing costs as a result of "cheap money" and the resulting forclousures of properties not worth nearly as much as the loans made on them is what has sent our economy into a tailspin.
These bailouts are NOT going to guarantee that these companies are going to get back on their feet and be strong again. The likely case will be they will get money from us and then pay themselves and either cut jobs and downsize or still file for chapter 11 anyways...
09-25-2008, 04:07 PM
#66
Old School
iTrader: (6)
Join Date: Jan 2001
Location: Union City
Posts: 14,983
Car Info: '99 RBP GM6
Issue is that the tax system is not cut and dry. There are loopholes and they are there for the rich, not the middle class or poor. Only the rich folks are able to use the tax loopholes to decrease how much they actually end up paying.
09-25-2008, 04:07 PM
#67
I don't need more cowbell dammit!
iTrader: (5)
Join Date: Jun 2003
Location: Equally as important as Walter
Posts: 3,203
Car Info: E82
The investors are going to pull out, the company is going to downsize, something is going to happen so that someone is going to run away with fat pockets, and it's NOT going to be us...
These bailouts are NOT going to guarantee that these companies are going to get back on their feet and be strong again. The likely case will be they will get money from us and then pay themselves and either cut jobs and downsize or still file for chapter 11 anyways...
These bailouts are NOT going to guarantee that these companies are going to get back on their feet and be strong again. The likely case will be they will get money from us and then pay themselves and either cut jobs and downsize or still file for chapter 11 anyways...
09-25-2008, 04:09 PM
#69
I don't need more cowbell dammit!
iTrader: (5)
Join Date: Jun 2003
Location: Equally as important as Walter
Posts: 3,203
Car Info: E82
If the income tax was a straight rate, like, 10%, then they would be paying more cause they make more.
Issue is that the tax system is not cut and dry. There are loopholes and they are there for the rich, not the middle class or poor. Only the rich folks are able to use the tax loopholes to decrease how much they actually end up paying.
Issue is that the tax system is not cut and dry. There are loopholes and they are there for the rich, not the middle class or poor. Only the rich folks are able to use the tax loopholes to decrease how much they actually end up paying.
09-25-2008, 04:12 PM
#70
They wont be filing for chapter 11, the whole point of the bailout is that the government is buying the bad paper that has driven these companies into the hole that they are in. They will keep open, the government will take over the bad mortgages and allow people to renegotiate their mortgages which will allow them to stay in their houses, which will eventually help the housing market make a recovery, which will help banks who have already forclosed on properties which are now worth less than what is owed on them recover the bad money they loaned out which in theory should be used to pay back the government. We will see what happens.