Volkswagen Passat Forum banner

1 - 14 of 14 Posts

·
is a sweetheart
Joined
·
3,056 Posts
Pete, shhhh, you'll let the secret out. It's actually reverse psychology. Think about it. For the first stimulus package (and auto bailout), literally hundreds of prominent, respected economists said it was a bad idea yet a whole bunch of bozo's in Congress thought they knew better and couldn't wait to sign over the money. Now we have one of the more prominent investors saying that a second stimulus package may be needed, so maybe just maybe Congress will try to "outsmart" the economists once again, we can only hope.
 

·
Super Moderator
Joined
·
14,046 Posts
We already had a second one.
 

·
Registered
Joined
·
9,780 Posts
Because the 4 or 5 previous ones worked so well. While we're at it, let's throw in a national health care plan too. After all, it's only money. Might as well run her into the ground at WOT.

No one with an ounce of common sense or a remote appreciation for fiscal responsbility could possibly fathom supporting this stuff that is taking place in Washington right now. The people that still "believe" in this administration and this Congress are morons. Period.
 

·
1st Gear
Joined
·
17,568 Posts
Because the 4 or 5 previous ones worked so well. While we're at it, let's throw in a national health care plan too. After all, it's only money. Might as well run her into the ground at WOT.

No one with an ounce of common sense or a remote appreciation for fiscal responsbility could possibly fathom supporting this stuff that is taking place in Washington right now. The people that still "believe" in this administration and this Congress are morons. Period.
Don't remember the last time I agreed with your post, but def agree with above.

Best Car Insurance | Auto Protection Today | FREE Trade-In Quote
 

·
Registered
Joined
·
2,004 Posts
My stimulus plan:

Every tax filer that earned income and paid taxes, up to a reasonable income level, say...$150k single AGI/$250-$300 joint filer...

You qualify for a stimulus equal to any outstanding debt, to the lesser of your AGI or total outstanding secured debts. (i.e. car loans and mortgages, not credit cards).

You would submit proof of the debt to the IRS, and the checks would go directly to the financial institution to pay off the debt.

It would solve the "toxic assets" issue most banks are suffering from, because a significant percentage of debt would be paid off.

It would stimulate the economy again because now people with good credit, no longer worried that their debts will overwhelm them, will be willing to spend again.

And it would give the money to the people that it deserves to go to--the taxpayers footing the $#%%^ bill in the first place.

Too simple and cost-effective to actually be given any real thought by Congress. And since it wouldn't immediately line the pockets of any major corporation out there, they won't suggest it either.
 

·
My pornstar name came up "Jay the Snork."
Joined
·
5,611 Posts
My stimulus plan:

Every tax filer that earned income and paid taxes, up to a reasonable income level, say...$150k single AGI/$250-$300 joint filer...

You qualify for a stimulus equal to any outstanding debt, to the lesser of your AGI or total outstanding secured debts. (i.e. car loans and mortgages, not credit cards).

You would submit proof of the debt to the IRS, and the checks would go directly to the financial institution to pay off the debt.

It would solve the "toxic assets" issue most banks are suffering from, because a significant percentage of debt would be paid off.

It would stimulate the economy again because now people with good credit, no longer worried that their debts will overwhelm them, will be willing to spend again.

And it would give the money to the people that it deserves to go to--the taxpayers footing the $#%%^ bill in the first place.

Too simple and cost-effective to actually be given any real thought by Congress. And since it wouldn't immediately line the pockets of any major corporation out there, they won't suggest it either.
I have had similar thoughts all along, and always wondered why they didn't pay off all or part of the mortgages of people who were having to default. My only stipulation would be that when the house was eventually sold, the seller would have to pay back the government with the proceeds, but could keep any capital gains above and beyond that amount. This would also alleviate other problems that you didn't mention, like the downward force on home prices when alot of homes in a certain area are foreclosed on, which in turn forces ever more people to be upside down on their mortgage, increasing the chances of them defaulting.

It never made any sense to me to pay off the toxic assets, but get nothing (like the houses backing them house for instance) in return.
 
1 - 14 of 14 Posts
Top