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| Yes | 77% | 49 votes | Total: 64 votes | |
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Add to FavoritesYes, the house of representatives is correct to reject the 700 million dollar bailout plan. They will be wise to continue to reject it no matter how much it is sweetened and amended. The whole plan is a very bad idea. Anyone backing it is not a smart person, including Obama and McCain who are pressuring the house to pass it. The American people do not want to have to pay for the mistakes the government has made and the companies that practiced bad, risky, unsound business paradises. The government and treasury do not deserve the unrestrained power this bill would grant them, throwing this nation into greater debt.
The tax breaks for middle class and the "golden parachute" they used to sweeten the bill cannot overshadow the true issue of the bill. It will fail to rescue us from the financial crisis the government let us get into. We cannot fall for the tricks the politicians are trying to play on us. The extensions of expired tax breaks are a separate issue not to do with this bailout. We should not be tricked into confusing the two separate issues. The bail out plan should continue to be rejected, no matter how much they try to sweeten it and mix up other issues with it. The true issue is not all the amendments they add to it, it is the core of the plan itself.
This 700 million dollar figure is in the middle of how much it could truly end up costing taxpayers. It is more likely to end up costing over a trillion dollars of the taxpayer's money to fix the financial crisis the government allowed to happen. The middle class and poor families are being asked to give up their hard earned honest money to the greedy irresponsible people who will still be rich after this is over. We could lose our homes, our savings, and every little leisure we can manage, so that the rich can keep everything they have while we lose what we have. They are willing to spend so much money on the finical crisis to keep the rich people rich. But they cannot even find the money to improve health insurance, roads, and education for our children.
So they wish to change the economy from a free market, to a socialist market. If we where a true free market, we would not be bailing out these companies that deserve to fail, instead of rescuing the ones that caused the companies to fail. We could lose our saving and retirement plans so that they can keep theirs. They want us to buy bad assets that are bad for a reason. We the American people would not invest in a company with bad assets, so they are forcing us to. They claim it would help the homeowners, but they are not rescuing us. Not paying our loans, giving us money we need. No, they are taking our money we need, and giving it to the rich.
If they are so insistent on taxing action, and rewarding these unsound companies. Then they should pay for it themselves. Tax everyone in the senate and House of Representatives. Tax all the C.E.O.s that are getting richer off this bailout. Have the people that vote for it pays for it, have the people that can afford it and want it give up their money. The American people do not wish to give up their money to these companies. We, the middle and lower class, cannot afford it and will suffer while the rich are rewarded.
Learn more about this author, KrisShady.
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No
I know that being forty nine years old makes me a real old man to many. If that is considered an old age one mus understand that I am not really old enough to remember how the great depression hit my family. Yes I only have heard some real old country music songs telling about how all those rural farmers lost every thing they owned and moved to some places in California to live. Maybe my basic knowledge of the nineteen twenties and thirties was absorbed in Los Lunas high school and not any life time experience.
The lessons I have learned say that our great depression started in Europe which was having some economic problems of their own after World War One. I'll never forget how bad it was in Germany and how th other countries around it suffered too. This remembrance can easily show how we didn't fall into that depression right on our own. Even back then American business was depending a lot on exports to do business and when the business started to fail the problem developed within the American borders.
There is another lesson from that historic time that shouldn't be ignored. Back then several banks went out of business, and that hit just about everyone when saving accounts disappeared. I'll never forget that in my younger years I could tell myself my paychecks were in healthier shape as cash in my pocket never in a savings account.
We all must understand that when the depression hit us just about everyone lost what they owned. There were only a few ultra rich families that were not terned into labor workers to survive. There were just a few states like New Mexico that didn't depend on some large business to provide employment. It was just in that state the American government started providing jobs to keep the people fed.
It's just that one thing should be understood about how the Great Depression was solved. It may sound strange that the Federal Government didn't start any problem solving operation my itself. If Hitler hadn't started World War Two many of the American residents would probably have died at a young age of starvation. When that war started so many unemployed men were drafted on to active duty, and many women were given some sort of weapon manufacturing job.
It may sound ironic, but some kind of problem solving program is needed in this day and age so America doesn't have to repeat history. It can honestly be said that if another depression hits enough of the large companies will be harmed that a World War Three would probably be the only way to save them just like the second world war did.
In my case I hope enough peace loving individuals in America will finally get enough sense to help the economy with their own wallets. That can be done by refusing to purchase any thing that is imported in any way. With everyone moving like that there is one bit of governmental action that would help us all out as well. The Federal Government should crack down on all these large credit card companies that are raising interest rates to real high levels when a user does not make the monthly payment on time. I know how sharply that can affect someone's ability to purchase just about anything because early this year my wife got bucked off a gelding colt and had her vertebrae broken. She just had to spend about four months in the hospital, but she never told me about making her credit card payments.
There for those credit card companies raised the interest rates up so high that they probably never will be payed off like the ones in my name were. I know complaining about something like this in an economic debate may sound unreasonable. I just hope some kind of governmental aid will fight out right greed. The kind that allows credit card companies to dig into any of their customer's savings when being in some hospital has caused them to miss a payment. It would really save a lot of lives when the Federal government finds some justifiable way to avoid another great depression and world way. With all the conflict developing in the Middle East right now it must be understood how history could be repeated without some common sense.
Learn more about this author, William Nadeau Esq.
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