Comments for Bailout Money is Not Reaching to Housing Market as It Was Approved For »
Posted By altnrg 1 year, 1 month ago in News$700 billion federal bailout plan initially intended for foreclosures remediation diverted to buy shares from troubled banks and insurance companies.
Read Full Story at realestateproarticles.com »
RSS Join the Discussion
+ Add CommentComments So Far: 87
-
HomerJS49Comment removed: Abusive
-
100%
waynochris1 year, 1 month ago
This comment is below the standard viewing threshold View It »
Of course the taxpayer is the fool AGAIN! The money was supposed to be given to troubled institutions so that they will lend the money to the average consumer in the form of mortgages, auto loans, personal loans, etc.thereby stimulating the economy via purchasing, homes, autos, etc. The institutions would be getting the money paid back with interest from the consumer, and that is whats done normally to get things back on track. Instead, the "troubled" institutions were given the money with no one overseeing how the money was spent. Thats why we read about corporate execs taking lavish vacations and they will get huge holiday bonuses all at the sucker taxpayers expense. BAH HUMBUG!! VOTE OUT YOUR CONGRESSIONAL LEADERS,THEY KNEW THERE WAS NO OVERSIGHT
Reply-
100%
4thchance1 year, 1 month ago
This comment is below the standard viewing threshold View It »
The reason it's not reaching the housing market is because 750 Billion was no where near enough of our money. We will need to dig MUCH deeper into our pockets to give them more handouts. I say, we (The Tax Payer) need to come up with something to the tune of around 10,000 TRILLION dollars to hand out to them. That way all these thieves among us will have more money then they would know what to do with. Just maybe then some of that money may go where it suppose to go! I still doubt it though....
Reply -
100%
Ralph2bits1 year, 1 month ago
This comment is below the standard viewing threshold View It »
“No money from me”. A call for Civil Disobedience now.
Reply
The truth is we will not vote out our representatives in congress so we need to get their attention.
I feel certain that some of the bailout money we’re spending was necessary to promote the general welfare but now I am beginning to sense in my bones a feeding frenzy; pigs at a trough, gorging themselves on the future of my children, grandchildren and great grandchildren. This disturbs me very much and for their sake I want it to stop.
If you feel like me, then its time to draw a line in the sand. We draw the line on the bailout of our auto makers. We say “no”.
How do we get our representatives in the congress to hear us? We can trust that those in power listen to and follow the money. We use that trust.
We write our representatives in the House and simply say: “no money from me if you bailout the automotive companies.” “ I will file my federal tax returns as a law abiding citizen but I will not pay my federal taxes.”
If tens of millions of us good, decent citizens do this we can draw that line in the sand and get our leaders attention. Will the government prosecute tens of millions of us? No. Will some of us go to jail? Yes. That's the price of civil disobedience. I will go to jail to save my children’s and grandchildren's future.
Don’t get me wrong, I am very concerned about the health of our auto makers, particularly workers on the assembly line. But workers, owners, managers, vendors, and investors can work hard and make the tough decisions to save their company through Chapter 11 bankruptcy protection. They’ll say no they can’t, but that’s because there are billions on the table for them to take. Why work when you can take?
The billions left should go toward our infrastructure, energy self sufficiency, and education. Use our money to build not bailout.
What do you think?
If this makes sense to you share it with your network. Ask them what they think.
-
-
100%
potataload1 year, 1 month ago
This comment is below the standard viewing threshold View It »
...hence, why are they bailing out the dealerships? They're going to claim Chapter 11 within the next few years.. I won't be surprised if the gvmt. bails $3 billion for Vegas after that. Fool me once, Im the fool. Fool me twice, you're the fool.
Reply-
HomerJS49Comment removed: Abusive
-
-
-
-
100%
starsekr1 year, 1 month ago
This comment is below the standard viewing threshold View It »
I'd like to see HomerJS back that up with the names of the banks paying dividends, I'd take my 401K, oops I mean my 101K, and buy a piece of that!
Reply
I know the election is over, so I'll just say this is the Bush administration doing business as usual, scream "the sky is falling" and whine until they get their way. They sold this to the American People as a buyback and a recertification of home mortgages, not proping up credit card and consumer finance companies.
Maybe what is needed is some serious reform in the banking industry, not the stock market.
And the Repubs want to use the fuel efficency money from last June to tide Detroit over, when there is enough left in the first 350 Billion to do the job nicely. Whats that money for if not to keep peoples homes out of foreclosure and people working so more homes don't go on the block? -
Neutral
starsekr1 year, 1 month ago
This comment is below the standard viewing threshold View It »
I'd like to see HomerJS back that up with the names of the banks paying dividends, I'd take my 401K, oops I mean my 101K, and buy a piece of that!
Reply
I know the election is over, so I'll just say this is the Bush administration doing business as usual, scream "the sky is falling" and whine until they get their way. They sold this to the American People as a buyback and a recertification of home mortgages, not proping up credit card and consumer finance companies.
Maybe what is needed is some serious reform in the banking industry, not the stock market.
And the Repubs want to use the fuel efficency money from last June to tide Detroit over, when there is enough left in the first 350 Billion to do the job nicely. Whats that money for if not to keep peoples homes out of foreclosure and people working so more homes don't go on the block?-
HomerJS49Comment removed: Abusive
-
ellsworth-tooheyComment removed: Hard Banned4 Replies
-
-
83%
mjjapple1 year, 1 month ago
This comment is below the standard viewing threshold View It »
Does this remind you of the Iraq vote? After 911 and the country was worried and afraid and most members of congress voted for the war powers act which gave Bush the power to go to war IF NEEDED TO PROTECT US and he just went to war for no good reason. Obama said Hillary voted for war, if I could have voted, I would not have voted to go to war.
Reply
Well, Mr Obama you did vote for this bailout bill and now they are not spending the money the way they said they would. I guess anyone can be told a lie and believe it, even the president elect. Good judgement call huh? -
100%
purplehayes1 year, 1 month ago
This comment is below the standard viewing threshold View It »
What this country needs is a Third Party - A People's Party - a Party that represents the interests of the People. The Democratic Party and Republican Party represent the interests of Capital not the interest of the average working man and woman. Our government is supposed to be of, by, and for the People, not special interests. Until we elect Representatives and Senators responsive to the needs of the People there will be no change. Democrats and Republicans are just different sides of the same coin.
Reply -
-
100%
Justice4All1 year, 1 month ago
This comment is below the standard viewing threshold View It »
I would have resented that 10 years ago. I was a republican for 30 years. But I switched parties in 2003. I don't care much for Democrats either, especially those like Hillary who voted to give Bush the power to go to war. But I have a lot of hope for Obama. I read his last book and was pretty impressed.
Reply -
-
Neutral
Sludge-Guzzler1 year, 1 month ago
This comment is below the standard viewing threshold View It »
Back in the 60's, there was a band known as the "FUGS". I know, using these guys to get a point across may not a very good idea but there was a line in one of their songs that struck me then and stayed with me when they were talking about lying Politicians.
Reply
"Ya got some guy up there sayin' "For Gods sake, we got to stop havin' violence in this country"....while he's spending sixty thousand dollars a second....snuffing gooks."
"Wide Wide River (of Sh!t)", from the album "It Crawled Into My Hand, Honest" Fugs 1969 -
Neutral
Ralph2bits1 year, 1 month ago
This comment is below the standard viewing threshold View It »
“No money from me”. A call for Civil Disobedience now.
Reply
It is time to get the scum of the earth to rise up and listen to us. We don't have to trust their honesty to get them to listen we just have to trust that they will listen to money and go where the money goes.
I feel certain that some of the bailout money we’re spending was necessary to promote the general welfare but now I am beginning to sense in my bones a feeding frenzy; pigs at a trough, gorging themselves on the future of my children, grandchildren and great grandchildren. This disturbs me very much and for their sake I want it to stop.
If you feel like me, then its time to draw a line in the sand. We draw the line on the bailout of our auto makers. We say “no”.
How do we get our representatives in the congress to hear us? We can trust that those in power listen to and follow the money. We use that trust.
We write our representatives in the House and simply say: “no money from me if you bailout the automotive companies.” “ I will file my federal tax returns as a law abiding citizen but I will not pay my federal taxes.”
If tens of millions of us good, decent citizens do this we can draw that line in the sand and get our leaders attention. Will our government put tens of millions of us in jail? No. Will some of us go to jail? Yes, that's the price of civil disobedience. I'll pay that price for my childrens' and grandchildrens' future.
Don’t get me wrong, I am very concerned about the health of our auto makers, particularly workers on the assembly line. But workers, owners, managers, vendors, and investors can work hard and make the tough decisions to save their company through Chapter 11 bankruptcy protection. They’ll say no they can’t, but that’s because there are billions on the table for them to take. Why work when you can take?
The billions left should go toward our infrastructure, energy self sufficiency, and education. Use our money to build not bailout.
What do you think?
If this makes sense to you share it with your network. Ask them what they think.
-
-
100%
mspattollie1 year, 1 month ago
This comment is below the standard viewing threshold View It »
My daughter was pre-approved for a home loan probably two months ago, found a home, paid all of the necessary inspections & she paid for the appraisal & NOW the lending institution seems to be stalling and looking for a reason NOT to give her the loan. What a joke that the lenders have money and want to give the loans when here is a hard working young lady, qualified for a loan and being played with this way. This is happening in Oklahoma.
Reply -
100%
chrisy31 year, 1 month ago
This comment is below the standard viewing threshold View It »
Its happening in the UK as well 2 rate drops totaling 2% and not one penny off my variable mortgage rate. They were really quick to put my mortgage up nearly £200 a month when it changed to variable so when will they put the rates down! They said they are looking into it.... how many months will we have to wait?
Reply
http://www.house-selling-tips.info -
-
100%
orndorffter1 year, 1 month ago
This comment is below the standard viewing threshold View It »
This story is correct,the economic crisis contiues to spread like a wild fire gettig out of controll.And many lifes are being affected by it.I'am afraid if the stress gets to bad, whats goihg to happen? here it is Thanksgiving and then Christmas. Men are going out everyday looking for jobs that are not there,and I'am afraid the stress well soon over come them.What are people going to do when they cant get help from the Goverment,and just a few cans of can goods, rice and no meat or anything else from the churches because they have gave what they had to others who got there frist? Unlike those who have the money to keep their homes, many people I have talked to tell me that they are striving to hold onto there homes and the deal with their morage has falling through and some how they are trying to move on and pick themselfs back up. Its hard one women told me, while trying to stay calm,but in her voice and words, playing off to be calm I could tell the burden on her sholders was waighing her down. Her husband lost his job and when the benifits for unemployment starts coming in they well be living off of $120 a week.They have became another victim of the jobless and home foreclosure.Them and thier other family members have talked of getting used lumber and building some homes on thier brothers farm maybe building anywhere from 2 or 2 1/2 rooms just to get by with, she said food was no problem because her husband and brothers and brother in laws can hunt food. But America should not have to live like this, are we not called the land of the plenty? But I guess our country is in so much trouble that they cant help their own now that we the Americans are in great need. What can we do to help I keep asking myself? Its going to take such a long time to bring us out of this mess we are in. and our hands are tied we can do so much to help but then soon we are going to need the help ourself. What have we done that was so wrong for America to end up this way? Change we need, and I hope with all my heart and soul that we get it. Its just heart breaking knowing alot of people with little children well have no Thanksgiving or Christmas this year.
Reply -
-
-
100%
Tango571 year, 1 month ago
This comment is below the standard viewing threshold View It »
Henry Paulson was given free reign on how the money was handled. Congress intervened and questioned Paulson's motives, by asking for clarification. In the end, because the legal writing of his authority he snubbed congress, and us and did what he wanted. That guy is just another disaster by the Bush administration. Just helping that top 10%. I'm happy to see that after these 8 years more people are starting to pay attention to this train wreck.
Reply-
100%
slate1 year, 1 month ago
This comment is below the standard viewing threshold View It »
Henry Paulson was given free reign on how the money was handled.
Reply
There lies the crux of the problem. All that power given to a young unelected man. Taxation without representation. Hey isn't that why we went to war and started a country in the first place? -
Neutral
Ralph2bits1 year, 1 month ago
This comment is below the standard viewing threshold View It »
“No money from me”. A call for Civil Disobedience now.
Reply
Congress doesn't really intervene when there is $700B to give out. They get in on the giving. We can't trust Congress to intervene. We can trust them to follow the money. It is time that we, the people for our own welfare and that of our children intervene.
I feel certain that some of the bailout money we’re spending was necessary to promote the general welfare but now I am beginning to sense in my bones a feeding frenzy; pigs at a trough, gorging themselves on the future of my children, grandchildren and great grandchildren. This disturbs me very much and for their sake I want it to stop.
If you feel like me, then its time to draw a line in the sand. We draw the line on the bailout of our auto makers. We say “no”.
How do we get our representatives in the congress to hear us? We can trust that those in power listen to and follow the money. We use that trust.
We write our representatives in the House and simply say: “no money from me if you bailout the automotive companies.” “ I will file my federal tax returns as a law abiding citizen but I will not pay my federal taxes.”
If tens of millions of us good, decent citizens do this we can draw that line in the sand and get our leaders attention. Will our government put tens of millions of us in jail? No. Will some of us go to jail? Yes, that's the price of civil disobedience. I'll pay that price for my childrens' and grandchildrens' future.
Don’t get me wrong, I am very concerned about the health of our auto makers, particularly workers on the assembly line. But workers, owners, managers, vendors, and investors can work hard and make the tough decisions to save their company through Chapter 11 bankruptcy protection. They’ll say no they can’t, but that’s because there are billions on the table for them to take. Why work when you can take?
The billions left should go toward our infrastructure, energy self sufficiency, and education. Use our money to build not bailout.
What do you think?
If this makes sense to you share it with your network. Ask them what they think.
-
-
100%
Parksplace411 year, 1 month ago
This comment is below the standard viewing threshold View It »
I can not believe that the SOB CEO's have not been rounded up and thrown in jail,and I can not believe that Congress did not monitor AIG,Goldman Sachs,Exxon ceos when they report bonuses in the millions and yet they tanked the company!Freddie Mac,Fanny Mae its all ********.Exxon,if they are making billions in profits then why can'they lower their fuel price to the consumers ? Its called greed!
Reply
I hope that President elect Obama does'nt take the the money and run.George Bush Legacy remains intact the absolute WORST EVER !!!-
AbnMedic1Comment removed: Spam
-
-
Neutral
AbnMedic11 year, 1 month ago
This comment is below the standard viewing threshold View It »
In my first comment, I just posted links to YouTube videos showing the Republicans calling for more regulation and the Democrats including Barney Frank claiming there is no problem and that the Republicans are just trying to scare people. I guess Barney Frank hadn't gotten enough money yet. Lucky that we have a former Fannie Mae official helping Barack fix this.
Reply
-
-
-
100%
olesteak1 year, 1 month ago
This comment is below the standard viewing threshold View It »
Am I one of the few that saw this coming? If the gov. had wanted a true salvage plan for the people the money would have been given to the people in the form of a low or no interest loan that could be paid back in amounts people could afford. The banks would have gotten their morgage money and the tax payer money would have gone back to the gov. Now this is just money lost. And BTW repubs as well as dems bought into this and next they will buy into bailing out the Car workers unions errrr I mean car manufactors ...right.
Reply -
-
-
100%
ETproductions1 year, 1 month ago
This comment is below the standard viewing threshold View It »
Time for kneejerk Americans to look up the often-used political slogan, Socialism. It doesn't mean progressive taxation. That's the political sloganeering it's gotten from the Republicans. No, it means government ownership of the financial system and means of production of wealth. What Bush and Paulson are doing is a major move to socialism.
Reply-
HomerJS49Comment removed: Abusive
-
100%
purplehayes1 year, 1 month ago
This comment is below the standard viewing threshold View It »
There are two major types of Socialism, National Socialism, aka Fascism (better known as Socialism for the rich, which is what Bush & Co. are pursueing) and Democratic Socialism aka Social Democracy. If we are a democratic republic - a government of, by and FOR the people - under a social democratic system, you wouldn't have an elite group of people controlingthe means of production for their own benefit, the means of production would be controled by the People fdor everyone's benefit. Could it be that it's time for a social revolution?
Reply-
Neutral
SanDamiano1 year, 1 month ago
This comment is below the standard viewing threshold View It »
Unfortunately, Socialist democracy only works on a small scale. In a pluralistic society, too many hands are vying for the megaphone, until the various cliques learn that the ones with the loudest voice determine the policy. Unfortunately this discriminates against those too poor to afford a megaphone.
Reply
-
-
-
-
-
100%
frctm51 year, 1 month ago
This comment is below the standard viewing threshold View It »
This maneuver is consistent with the theory of crisis capitalism. You exploit a crisis and use fear to get people to accept unreasonable actions and requests like invading Iraq. My feeling is that George the A-hole Bush, who really doesn't care about his office or the American people or his legacy at this point is just trying to screw things up as much as he can in the last two months of his term. We should exile Bush to Iraq when his term is over.
Reply -
Neutral
dandt16121 year, 1 month ago
This comment is below the standard viewing threshold View It »
All the big wigs are being taken care of once again is the way I see it. Sure they need to stay in business, but I have always been told and thought that us little guys are what keeps things going as long as we little people can get loans, go shopping and buy gas and food etc. WE THE LITTLE PEOPLE GOT RIPPED OFF AGAIN!
Reply -
SandmonsterComment removed: Hard Banned1 Reply
-
0%
fsev411 year, 1 month ago
This comment is below the standard viewing threshold View It »
Bush and his neo-con puppeteers can't leave bad enough alone for the last few months but have to make the train wreck worse. Unrestricted money for the greedy,manipulating banking theives, last minute rule changes to benefit big oil and rape the environment, "burrowing" cons into civil service jobs so that it's harder to get rid of them, and on and on. I truly think they are trying to make it almost impossible for OBama to right the ship by the end of his first term so that they will have a better shot at regaining the WH and Congress in four years. They knew they didn't have much of a chance at keeping power after the Bush fiasco so they sacrificed McCain and are looking at 2012.
Reply -
100%
texas58101 year, 1 month ago
This comment is below the standard viewing threshold View It »
The Banks are Kings and you are the workers that support the banks with deposits, high interest rates and government loans.
Reply
so the banks can leverage their money to make more money.
To be granted a blessing from the banks you must have a credit score now over 700 to get a loan, this allows them to charge you up to 30% interest,plus other fees, the poor people, no loans that is why they are poor, they did not obey the rules of the bankers that control your way of life,they own everything you finance. The government owns everything, do not pay your taxes on your home, business,inheritance they will take it from you. Remember, BANKERS, GOVERNMENTS.IRS,SENATORS, CONGRESS, WALL STREET, LOCAL & STATE GOVERNMENTS ARE IN PLACE TO SUPPORT YOU if you pay. You will not own anything without them, except your sole.
All Govenments will not let the BIG Bankers fail. If the Banks do not want to loan you money this will cause the collapes of our companies, governments of all sizes that employes the workers of the world that support the banks. Without them you have nothing. You cannot force the banks to do nothing. They own the world you live in, you are nothing without them.-
HomerJS49Comment removed: Abusive
-
-
100%
Rick78x1 year, 1 month ago
This comment is below the standard viewing threshold View It »
Want to blame, folks? LOOK IN THE DAMN MIRROR! Because WE dropped the ball; WE trusted government, allowed it to get too big and controlling, turned a blind eye to the overseas abuses of corporations because it falsely benefited US, and because WE paid more attention to sports and American Idol bullcrap, as opposed to diligently educating ourselves on history, economics and politics, we are now suffering the consequences of those failures. You want to fault a lion for roaring and eating when its hungry, well, we should have kept a watchful eye on the beast when we knew it was prowling loose in our midst.
Reply -
Neutral
jmorrow5881 year, 1 month ago
This comment is below the standard viewing threshold View It »
Why should we be bailing out people who lied on their mortgage application to borrow more money than they could ever afford to repay. Buying a house for more than 2 times your annual income is riduculous. They were speculating that the real estate boom would continue and they got burned. Most have never put a penney of their own money into the deal, but they want the taxpayers to bail them out.
Reply
This mess won't be over until housing prices drop to a truly affordable level. -
-
-
-
100%
AbnMedic11 year, 1 month ago
This comment is below the standard viewing threshold View It »
It was the Democrats who came up with this stupid bailout idea in the first place and it was the Democrats that started this whole thing beginning with Jimmy Carter and his plan force banks to give people who could not afford to own a house a loan by government mandate.
Reply
The Republicans kept sending the bill back to take out the pork for the Democrat's donors. The Republicans finally gave in and approved the bailout mainly because they are weak-willed and they know the average American is too stupid to understand reality. They are too willing to listen to Liberals when they say "It's W's fault" even when the facts say otherwise.
We just elected a President that promised to dismantle the military, cooperate with terrorists leaders, increase taxes on the people who write their paychecks, give "tax breaks" for people who do not even pay taxes, destroy the coal industry, create jobs for everyone and create "World Peace".
Yeah, take my paycheck money from my evil boss (he won't fire me because he can no longer afford to pay me and he won't increase the cost of what we pay for his goods and services. He'll just pay it out of his deep pockets.), take away the coal that powers our electric generators (that won't make our energy bill go up at all), destroy our military because it won't affect our ability to protect ourselves, and take my money go to people who don't work and pay taxes in the first place in the form of a "rebate" (I don't really need that extra $50 bucks a week as I am sure you don't either). Biden even said it is patriotic to pay more taxes. Be patriotic. Give all your money to the government and let them decide what you need.
Why can't the Democrats just admit that if we let more people keep more of their money, everyone would be better off instead of taking our money and spreading it around the way they want. The liberals always want to give away other peoples money; but, it is the Republican's that give their own money. Because the liberals don't give to charity, they don't believe other people will give of their own free will. They think they have to take a gun to force us to give to others. If you don't think that is true, just don't pay your taxes and see if a policeman or federal agent wearing a gun doesn't come to arrest you.-
Neutral
frctm51 year, 1 month ago
This comment is below the standard viewing threshold View It »
First off, the CRA has been around since 1977 and stipulated that if you collect deposits in a neighborhood, you had to make loans in that neighborhood. The loans covered by this act were reputable loans and the repayment history on them was very good which is why banks did not fear having to make them. Given that this act is thirty years old, why would it become a problem only in the last two? Because most of the subprime loans had nothing to do with CRA. Fifty two percent of these loans were not made by thrifts or banks and would not have been covered by the act. Only about one percent of the subprime loans that were defaulted on were CRA loans.
Reply
It was Bush who first came begging for the bail out. He just didn't want any oversight. Just a blank check for Paulson. You might have more credibility if you get some of your basic facts correct. The first request for an emergency bail out came from the president and this is recent history and all over the news. Where were you that day?
How do you give tax breaks to people who don't pay taxes. I would suggest you look into basic principles of logic. You have to have income to get a tax break on income taxes. Tax relief in the Obama administration would benefit those who are not in the top 5% of income. I am sure, however, that you will not participate in this socialism and refuse yours.
Why can't Democrats admit that if we let more people keep their own money, everyone would be better off? If 95% are receiving a tax break, how is this inconsistent with your idea? Again, consult a hand book on the principles of logic and definitions of less and more.
Regarding defense, how do you suppose those expensive toys and huge payrolls are covered? Monopoly money or taxes? However, on that note, who are you afraid of? What requires a half trillion dollars of defense spending so you can sleep at night? Some people just live in fear and no amount defense spending can make them feel safe. If people's fears were proportional the the probable cause of their death, your greatest fear would be transfat and heart disease. Stay away from McDonalds and you are half way to a longer life.
Rush Limbaugh and the right wing spin machine makes this crap up and it becomes the gospel among the brainwashed ditto heads. That is why even though this argument regarding the subprime loans was discredited a long time ago, ditto head keep repeating it. They can't do otherwise. You can always tell a ditto head because the repeat the same spin with clock work reliability. -
-
-
-
HomerJS49Comment removed: Abusive
-
-
-
jessicapularComment removed: Hard Banned
-
-
-
0%
andiamo15981 year, 1 month ago
This comment is below the standard viewing threshold View It »
Where are American's priorities? Let's take a look at where the abundance in this country is really being spent. Sports Stars, Celebrities, Porn, drug lords, Insurance companies, lawyers, and top executives of failing corporations are getting millions of dollars richer each per year...hmmm I can't help but ask everyone why this is so especially in a society that has left the middle class and poor scratching their heads to try and figure out how to eat or pay rent. And why do we have to take a drug test to "get a job" when you don't have to take a drug test to get an unemployment check or welfare assistance? Where is the silver lining in the truth about our sick economy and how much longer will American's allow the wealth in this country to be misappropriated?
Reply -
Neutral
truthiness1 year, 1 month ago
This comment is below the standard viewing threshold View It »
I posted this on another thread, but I am going o post it again because it bears repeating.
Reply
We can bailout every industry in America by Nationalizing the Health insurance industry, one of the largest overhead costs every business faces. This is how:
1st) we stop spending money on medicare, medicaid and SCHIP matching funds, Veterans Health insurance, active military, and every government employee.. according to the OMB this amount to 308 billion dollars annually. the combined 50 states also spend 306 billion dollars annually on SCHIP and Medicaid. thats 614 billion annually we can save in tax dollars.
2nd) according to the HHS the same taxpayers who pay the above costs also spend 879 billion on private health care expenditures, annually. now we are up to 1.4 trillion (rounded down) in health expenditures saved by ending the current system.
3rd) we take the 614 billion in tax dollars already allocated for the government run health plans for 2009 plus the remaining 300 billion in the bailout fund and use that 900 plus billion to buy out the health insurance industry. turn it into a single payer non-profit corporation (keeping the employees to run it) with an under-secretary of the treasury to serve as CFO and report to Congress quarterly. now we have removed the overhead from Americas corporations, ended the entitlement system, removed the redundancy costs, and eliminated the profit margin from health insurance costs.
4th) we pay for annual cost by placing a 10% tax on all retail and food sales which will raise 400 billion and cost each household 100 dollars per month according to the Census retail sales numbers (and guarantee that everyone pays their share including illegal aliens). clearly this does not equal 1.4 trillion but that 650 billion is the profit margin of private health insurance and the waste of the redundancy of the entitlement system.
we can now insure every citizen from birth till death and save American business. -
Neutral
bigdogstu1 year, 1 month ago
This comment is below the standard viewing threshold View It »
Here WE go again!!!Another George W,Flub!!!Why can't the rich Big Companies use the money in the right why instead of being GREEDY FOR THE BUCK.Another payment the middle class has to pay for and STILL WE HAVE TO SAY AS AMERICANS, GOD BLESS AMERICA.I don't understand this country was fought for Taxation without Representation, Now we have ALL THE REPRESENTATION WITH ALL THE TAXATION.WE NEED ANOTHER REVOLUTION.
Reply -
-
Neutral
Ralph2bits1 year, 1 month ago
This comment is below the standard viewing threshold View It »
“No money from me”. A call for Civil Disobedience now.
Reply
I feel certain that some of the bailout money we’re spending was necessary to promote the general welfare but now I am beginning to sense in my bones a feeding frenzy; pigs at a trough, gorging themselves on the future of my children, grandchildren and great grandchildren. This disturbs me very much and for their sake I want it to stop.
If you feel like me, then its time to draw a line in the sand. We draw the line on the bailout of our auto makers. We say “no”.
How do we get our representatives in the congress to hear us? We can trust that those in power listen to and follow the money. We use that trust.
We write our representatives in the House and simply say: “no money from me if you bailout the automotive companies.” “ I will file my federal tax returns as a law abiding citizen but I will not pay my federal taxes.”
If tens of millions of us good, decent citizens do this we can draw that line in the sand and get our leaders attention. Will the prosecute tens of millions of us? No. We'll jam the courts if they do. Will some of us go to jail? Yes, that is the price of civil disobedience. I will go to jail to save my childrens' and grandchildrens' future.
Don’t get me wrong, I am very concerned about the health of our auto makers, particularly workers on the assembly line. But workers, owners, managers, vendors, and investors can work hard and make the tough decisions to save their company through Chapter 11 bankruptcy protection. They’ll say no they can’t, but that’s because there are billions on the table for them to take. Why work when you can take?
The billions left should go toward our infrastructure, energy self sufficiency, and education. Use our money to build not bailout.
What do you think?
If this makes sense to you share it with your network. Ask them what they think.-
Neutral
truthiness1 year, 1 month ago
This comment is below the standard viewing threshold View It »
they've refused the automakers already.
Reply
obama already said he plans to build infrastructure and invest in green industrial development.
and congress no longer seems to have any say, its all in Paulson's lap until Obama is inaugurated.
-
-
-
-
Neutral
truthiness1 year, 1 month ago
This comment is below the standard viewing threshold View It »
article 1 section 8
Reply
The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;
To borrow money on the credit of the United States;
To regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes; -
Neutral
AbnMedic11 year, 1 month ago
This comment is below the standard viewing threshold View It »
Not brain dead. Brainwashed. You are requiring them to ditch all the teaching they got in government schools. They have been told for decades that we live in a Democracy and now you want them to look up what a Republic is and even understand it? It is too hard to understand what this Country is supposed to be.
Reply
It is so much easier if we just tell people everything will be all right if they just let their friends the Democrats take care of them and just give them enough knowledge so they don't have to think too much! There is all these rich people that have made their money illegally and they don't need that money anyway; so, there will always be enough to take care of them without them having to work. Just trust them.
-
-
-
Neutral
AbnMedic11 year, 1 month ago
This comment is below the standard viewing threshold View It »
The bailout of the auto industry will have one purpose and only one purpose. It is to protect the Labor Unions contracts so they will continue to make donations to the Democrat party. If the auto industry takes the money it will be gone in a couple of months. If they take a bankruptcy and restructure, the can void the union contracts and become more competitive with other countries. The big three are paying out $2000 per vehicle to pay for union stipulations including tens of thousands just to provide Viagra for it's workers.
Reply -
Neutral
baybayforreal1 year, 1 month ago
This comment is below the standard viewing threshold View It »
Le the Oil Company's bail out the Auto Makers. They depend on the Auto makers to make money so they would be helping themselves. (Like they always do).
Reply
They can seal the deal at a resort, and can justify the expense by calling it "The Greedy help the Greedier"
And they have the money. They broke their own record for profits this quarter
Middle America does not have it, I know --I just checked my bank balance. -
Neutral
teardrop011 year, 1 month ago
This comment is below the standard viewing threshold View It »
Gosh,is it any surprise what our government is doing! They (not just the president, but all congressmen and senators)make the decisions, democrats and republicans. They have way too much power, can u vote in your raise? Can u get retirement and all the benifits that go with it after just a few years in your job? Job security? wow they must have the best. Why?? Well it is sad but we(americans) let them do it. Hey, if it doesn't effect your life directly do most people do amything about it or even say much? NO!! Well wake up America!!! Middle class?? fading away, then what will happen to the country we love? Who supports it??? If u are wealthy, your set, maybe have to do with a little less but still have everything u need. and if u are poor (welfare wise) hey, free medical, housing and utility assistance, food stamps, free lunches for your kids, who pays this?? Middle class that is who and its fading. Free speech, we the people??? At the rate this country is going that will all be a thing of the past. Next step, declaration and constitution remake, they have already said they were out dated. WHAT?? Put americans back to work, americans quit supporting the other countries, cars, clothes,and what ever else. Welfare, it is not an occupation. Reform, reform, REFORM. It doesn't take a rocket scientist to work thru it, tough love. for who? Us, Our Country.
Reply -
Neutral
teardrop011 year, 1 month ago
This comment is below the standard viewing threshold View It »
Gosh,is it any surprise what our government is doing! They (not just the president, but all congressmen and senators)make the decisions, democrats and republicans. They have way too much power, can u vote in your raise? Can u get retirement and all the benifits that go with it after just a few years in your job? Job security? wow they must have the best. Why?? Well it is sad but we(americans) let them do it. Hey, if it doesn't effect your life directly do most people do amything about it or even say much? NO!! Well wake up America!!! Middle class?? fading away, then what will happen to the country we love? Who supports it??? If u are wealthy, your set, maybe have to do with a little less but still have everything u need. and if u are poor (welfare wise) hey, free medical, housing and utility assistance, food stamps, free lunches for your kids, who pays this?? Middle class that is who and its fading. Free speech, we the people??? At the rate this country is going that will all be a thing of the past. Next step, declaration and constitution remake, they have already said they were out dated. WHAT?? Put americans back to work, americans quit supporting the other countries, cars, clothes,and what ever else. Welfare, it is not an occupation. Reform, reform, REFORM. It doesn't take a rocket scientist to work thru it, tough love. for who? Us, Our Country.
Reply -
Neutral
mhconst1 year, 1 month ago
This comment is below the standard viewing threshold View It »
Does anybody know how many of the current 435 US Congressmen, vote for legislative and spending bills, within the
Reply
boundaries of the US Constitution (their oath of office)? The answer is only 1 does, and that’s Congressman Ron Paul of Texas. The remaining 434 are subject to impeachment.
Patriot
loading ...
Add a Comment
Sign In With Your Propeller Account
Please keep your comments relevant to this story.
To create a live link, simply type the URL (including http://) or email address and we will make it a live link for you. You can put up to 3 URLs in your comments. Line breaks and paragraphs are automatically converted — no need to use <p> or <br /> tags.