September 20, 2008

$770 Billion Bailout

You know, Bush's proposed $770 billion bailout plan should probably come with the warning that there cannot be any more preemptive wars, that all wars mus have the consent of Congress beforehand, and that the US should withdraw from Iraq upon implementation of this bailout.

I have heard it said that the US only collects about 1.3 trillion dollars in taxes annually, so Bush's war plus the maintenance of a standing military plus the bailouts will literally leave us broke. So much for "tax and spend".

Those of you who voted for him have much to answer for.

[xpost Eccentricity]

Posted by Scorpio at September 20, 2008 07:34 AM | | Technorati links |

The bailout is ridiculous, and not needed, and only taxes future generations. (And both candidates want to increase govt spending?) NESARA as drafted by Dr. Barnard is the only way out of our fiscal and monetary mess. Force balanced budget, abolish income and capital taxes in favor of 14% sales tax on everything else except rents, groceries, insurance, and medical services; new monetary tools to ensure 0% inflation; abolish compound interest on secured loans in favor of simple monetization fee, and require principals be paid before before banks are allowed to collect on the monetization fee. No payment no matter how small will always reduce a debt to zero, banks more willing to prevent foreclosures and will turn around funds for more loans sooner. No more of this pay for 2.5 houses just to own 1. Pay for just 1.5 and be done with it in 17 years. National debt paid off in 30 years while standard of living doubled within a generation. NESARA (not the hoax, but Dr. Barnard's original version). A 21st century engineered solution for a 21st century economy. Google the NESARA Institute.

Posted by: Ryan at September 21, 2008 01:02 AM

Unless stock transactions are also charged that "sales tax", it will never work. Plutocrats have a habit of taxing everyone but themselves. Any scheme that does not tax their activities is presenting an unacceptable loophole.

Posted by: Scorpio at September 21, 2008 08:23 AM

so how much would it cost to pay every needed household one million dollars?
Pay the 80 million households that foreclosed 1 million dollars, but they have to pay of their mortgage.
Which plan would be cheaper? or more cost effective?
Think about, pay the people who need it the most or the bail out the bad guys?

Posted by: frans at September 29, 2008 06:48 AM