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Jim
Jim Allen

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Re: Yes or No ... Bailout Wall Street Fatcats?
9/27/2008 2:26:47 PM

Hey Joe,

This is the rub... Joe B's use of 85 Billion dollars would do that and makes sense.  No one gets hurt.  The figure they are batying about is 700 Billion Dollars.  over 10 times the amount!  Now imagine what every American household could do with 4.5 Million dollars and also imagine the taxes the government could collect on those figures. 

I say BAILOUT MAINSTREET and the debacle is solved!

Jim

 

May Wisdom and the knowledge you gained go with you,



Jim Allen III
Skype: JAllen3D
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Peter Fogel

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Re: Yes or No ... Bailout Wall Street Fatcats?
9/27/2008 8:57:31 PM

Hello Jim,

As I wrote in an earlier post here the consensus is total so far against the bailout. The logic is very easy for all of us to understand but it seems to be a moot point cos the bottom line is that there will be a bailout and at the expense of the over burdened tax payer.

Another victory for the corrupt and "users" of our society and the politicians from both parties that are supporting this proposal.

Joe B's calculations are way off base and he has been made aware of this (doesn't seem to make any difference to him though). $85 billion divided by 200 million is $425. $700 billion divided by 200 million is $3500. Both sums are not to be sneezed at but are a far cry from the $425,000 and $3,500,00 mentioned.

But as I said those elected officials seem to think (as usual) that the citizens of this country aren't capable of understanding the situation as well as they are and will once ignore the majority opinion in the USA and approve the bailout of corrupt managers and their institutions.

Sad state of affairs.

Shalom,

Peter 

 

Peter Fogel
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Jim
Jim Allen

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Re: Yes or No ... Bailout Wall Street Fatcats?
9/27/2008 9:05:50 PM
EDITORIAL: Be 'patriotic': pay more

Leave it to Old Senate Hand Joe Biden to inject some much-needed honesty into an increasingly deceitful presidential campaign.

With the country's financial sector in shambles, the economy hemorrhaging jobs and the race for the White House tightening, the Barack Obama campaign is circling the wagons, trying to convince a shaken electorate that he's not the tax-hiking, redistributionist Democrat he promised to be earlier this year.

In a Sept. 7 interview with ABC's George Stephanopoulos, Sen. Obama acknowledged that tax increases on upper-income Americans and on capital gains could cause further damage to the economy. He promised to immediately cut taxes on the middle class.

This week, an Obama spokesman reiterated his priority would be "getting it (the economy) moving again, creating jobs and relieving the squeeze on families."

Unfortunately for the campaign, Sen. Biden, the vice presidential nominee, apparently wasn't copied on the new fib about the team's class-warfare agenda.

In a Sept. 18 appearance on ABC's "Good Morning America," Sen. Biden not only acknowledged an Obama administration would sock it to the rich, but insinuated that upper-income Americans don't love this country if they refuse to go along.

"It's time to be patriotic," Sen. Biden said, referring to the supposed need for wealthier Americans to pay more taxes. "Time to jump in, time to be part of the deal, time to help get America out of the rut."

So there you have it. Sen. Obama's smooth assurances aside, we now know the Democratic ticket believes this nation's economic malaise can be corrected by confiscating even more wealth from its most productive citizens.

Already, the wealthiest 1 percent of filers pay 39 percent of all income taxes. The richest 40 percent of American households cover 99 percent of the income tax burden. These are the taxpayers who invest in companies, create jobs and spread wealth across a wider spectrum than any welfare program.

Congress already tried a "bottom-up" approach to stimulating the economy this year by mailing checks too small to cover a mortgage payment to the majority of households. But they somehow forgot their progressivism. The so-called "rich" -- single people making more than $75,000 and couples making more than $150,000 per year -- got little to nothing. And the economy didn't recover.

Repeating this blunder wouldn't mark the first time Sen. Biden has copied someone else's work.

There's nothing patriotic about punishing success. And those who believe voluntary charity is patriotic can surely do better than the $380 per year the Bidens report donating over the past decade -- 0.2 percent of their income, one-tenth the national average.

America is strongest when its citizens have the freedom and wealth to acquire property and participate in the global economy. The best way to achieve that is to encourage lower tax rates -- for everyone.

 
 
 
Find this article at:
http://www.lvrj.com/opinion/29664974.html  

May Wisdom and the knowledge you gained go with you,



Jim Allen III
Skype: JAllen3D
Everything You Need For Online Success


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Jim
Jim Allen

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Re: Yes or No ... Bailout Wall Street Fatcats?
9/27/2008 9:11:22 PM

85 Billion to AIG

300 Billion plus to the Freddie and Fannie

45-55 Billion to Bear Stearns

plus the 700 Billion for Wall Strret

25 Billion for Auto Industry

15 Billion for farmers

_____________________

close to 2 TRILLION Dollars in the past week.  Plus the Trillion or so for 2 wars on credit pverseas.

Where is it coming from?  The numbers don't add up to the tax base!

May Wisdom and the knowledge you gained go with you,



Jim Allen III
Skype: JAllen3D
Everything You Need For Online Success


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Re: Yes or No ... Bailout Wall Street Fatcats?
9/27/2008 10:01:19 PM

Jim, sorry I missed your poll.  I would have voted no.

Thank you for this post.  You have been moving and I am trying to recover. 

This all happened because of greed and lying.  Why can't those guys be held accountable and 'pay up' , why force it upon the American taxpayers??

My vote is for Obama, no matter what, I cannot phantom another 4 years of Bush.  People here at ALP are so vicious about this, I have been actually in fear of saying who I support.  I do not care what they think anymore.  Our country is in a mess and we need a GOOD change.  Now who can deliver that, I do not know, but I do not believe it can be McCain(McBush)/Palin.

Jim, I admire you and your honesty and all the people posting here.  Whatever happens, happens to ALL OF US and we need to support each other.

Blessings always,

Sara

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