Alternatives to Financial Bail Out

[Big War Bird]

Why is Congress and the President about to fleece the american people for $700B when there is another way getting a whole lot more cash.

End all capital gains and corporate taxes. Make the USA the world's tax haven. Money from around the world will come flooding in to take advantage of the tax savings without taking a penny from the american people.

Any other ideas?

[Da Skinna]

http://www.cnn.com/2008/POLITICS/09/...rpt/index.html

I like this:

Improving the education system. Researching alternative fuels. Nationalizing health care. Paying off the debts of the American people.

Is it a wonder why people are so pissed that their tax money is going to help out the people that has taken their money, kicked them out of their homes, and keeps them indebted?

[Sphere]

Giving a tax break to companies in the red does nothing. And suprisingly enough money has been flowing in from oversea's investers quite freely, even with corporate and capitol gains taxes.

However, I am in favor of ditching the corporate tax, and making the income tax more progressive. I would rather be taking 50% of profits from rich stock owners and 10% from poor ones rather than 35% across the board.

[Da Skinna]

And then guillotine the rich! For being rich!

[Mikelus Trento]

Why is Congress and the President about to fleece the american people for $700B when there is another way getting a whole lot more cash.

Any other ideas?

Elect Obama.

[Big War Bird]

Elect Obama.

Only the dumbmass could think that would help.

[Mikelus Trento]

And only masochists would persist in trying to make America (and the world) endure more Republican mismanagement at home and abroad.

[Da Skinna]

Obama is no better, actually no, he is slightly better than McCain regarding the economy.

It's a lesser of two idiots deal.

[HorseArcher]

Why is Congress and the President about to fleece the american people for $700B when there is another way getting a whole lot more cash.

End all capital gains and corporate taxes. Make the USA the world's tax haven. Money from around the world will come flooding in to take advantage of the tax savings without taking a penny from the american people.

Any other ideas?

Good idea, I would also add, drop the the current taxes on small business owners (or any business owners) , offer various financial advantages on companies who want to build factories or open stores in USA (it has to be competitive to the rest of the world), the people without jobs would be flooding to get jobs, that alone would generate so much tax (even at a lower rate) that easily could pay for the trillions of dollars.

I'm against any additional taxes, since every time we buy goods or just pay for the usual bills, we pay taxes on them already.

One thing I'm not against, and that is taxing the hell out of imported goods, stuff from China and Europe.

There is plenty of money all around, it's just the stupid politicians in Washington all trying to get a piece of the pie, so they favor whichever lobby they are influenced by.

[Grobar]

That is just wrong idea. Corporate taxes make up large percentage of revenue for any country. Governmet would lose much more money then it would gain by abolishing it. Rich would get richer and government would lose. No more sponsoring wars overseas.

[Big War Bird]

That is just wrong idea. Corporate taxes make up large percentage of revenue for any country. Governmet would lose much more money then it would gain by abolishing it. Rich would get richer and government would lose. No more sponsoring wars overseas.

Corporate taxes make up a very small percentage of revenues and vary greatly from year to year.

Remember what is needed here, a cash infusion, money has to come from somewhere. The current plan to or the taxpayer to assume all that bad debt. Instead of internalizing this problem, lowering the tax rates externalizes it.

[Kleos]

Can an American clarify this for me. I keep hearing this $700 billion figure passed around as if it were the actual amount this will cost; but doesn't the proposal state "at any one time"...so once once X amount of 'toxic debt' has been cleared up, the taxpayer might have to shoulder another X amount. Whats the score there? Because with an "at any one time" clause, you just know with government that it is going to happen...and that amount of money, and the effect on inflation, is scary.

As for helping, how about the realisation that the world made a major, major balls up when it embraced fiat currency and fractional reserve banking. Stop deficits, start paying off the debt, reduce government spending (one trillion on medicair/aid & social security jump to mind), cut taxes (while keeping a balanced budget), slash unecessary regulation -minimum wage set by the state, not the fed-, start improving the balance of trade ( trade deficit is roughly $800bn, and the US imports $700bn of oil...the angle of attack should be on reducing oil consumption) and switch to the pure gold standard when the debt has been eliminated.

As for this short term measure of $700 bn...at the very lest you need to demand a huge slice of future profits the banks make to recoup this money and make some profit for the pubic purse.

[The King Of Peasants]

Look at countries like Ireland the dramatically lowered them they went from one of the poorest in europe to one of the richest!

[Da Skinna]

Look at countries like Ireland the dramatically lowered them they went from one of the poorest in europe to one of the richest!

Did quality of life raise in proportion?

[HorseArcher]

Did quality of life raise in proportion?

In 2005, Ireland was ranked the best place to live in the world, according to a "quality of life" assessment by Economist magazine. The country's combination of increasing wealth and traditional values gives it the conditions most likely to make its people happy, the survey found. These conditions include health, freedom, unemployment, family life, climate, political stability and security, gender equality and family and community life. The Economist said: "Ireland wins because it successfully combines the most desirable elements of the new, such as low unemployment and political liberties, with the preservation of certain cosy elements of the old, such as stable family and community life."

http://en.wikipedia.org/wiki/Ireland

[Grobar]

Ireland is a small country and they received more then billion from EU. And they don't waste huge amount of money on military and wars.

[Iscariott]

Loan the money AT INTEREST. A 700bil+ investment in such a broken downtrodden market ought to be aimed just as much at making a lot of money as helping the institutions being loaned the money. 10 year loan, take half the profits dump them into national debt, split the rest evenly among every tax payer.

[Gelgoog]

Loan the money AT INTEREST. A 700bil+ investment in such a broken downtrodden market ought to be aimed just as much at making a lot of money as helping the institutions being loaned the money. 10 year loan, take half the profits dump them into national debt, split the rest evenly among every tax payer.

um unless i'm mistaken, thats exactly what they are doing. the interest on the loan is very high and will make a profit eventually.

[Andrew87]

Ummm...I don't want to interupt the debate...but Ireland recieved over 1.4 billion euro from the EU.

And how can one compare a country like Ireland with the US anyway?

[Da Skinna]

The Irish have a high quality of life because of their high-quality whiskey...

So then that begs the question, what does Ireland do that is so different than the spending of the United States?