Still trying to wrap my brain around the 700 billion bail out.
Here's what I don't get. How can you let things get this bad? I guess it's one thing if you need $100, $1000 or even 100,000.
But a billion?? Much less SEVEN HUNDRED BILLION?
That is just wrong in so many ways. Beyond wrong. Disgusting. Sickening.
And now they want to be bailed out. Well, I'm really don't want to bail them out. Sorry, not at all.
The powers that be say we 'have' to or else the economy will collapse.
Now I'll be the first to admit I am not a financial genius. I am dyslexic with any numbers over 3 figures. But I know that this whole situation is lacking in common sense.
So here's what I propose.
The top 3 layers of management for these firms need to sell their homes. Apply the proceeds to the debt. Pay back their bonus' for the last 2 years. Divest themselves of 50% of their tax portfolio and apply those proceeds to the debt.
Next step? End the war. Now. We need to stop the flow of obscene amounts of money into Iraq. Pull out all of our soldiers in the next 90 days. You're on your own, Iraq. We've tried for way too long to help and seriously?, you need to stand on your own two feet.
While we're at it, effective immediately, all places of worship will have to pay taxes for the next 5 years. For too long churches, synagogues, mosques, etc have enjoyed tax free status. No more. Let's call a 5 year reprieve on that. It's gonna hurt, but we need to pull together and do it.
Also, let's roll out a special Visitor Tax where we tax each non-citizen $350 to enter our country. We'll refund $100 to them when they leave. Lots of visitors come to the US each day for work or pleasure...so let's take advantage of this. Plus, their money can buy way more due to the sucky dollar, so it may not affect them all that much to begin with.
Finally, remember that 3 layers of management I mentioned earlier? We'll bar them from having any position of leaderhip in a financial institution for the next 10 years. They need to learn their lesson and 10 years is a good start.
It's sad, the whole bailout issue. Nowhere have I heard what they will cut or sell or do whatever they can to pony up any amount of money. It's smug arrogance...as if to say 'hey, we trashed your economy and since we're so big you HAVE to bail us out".
We've been let down. And I'm not happy about it at all; who is?
It'll be interesting to see how this all plays out. Any ideas you have, feel free to add them in comments.