Comments on: Paulson Believes Taxpayers Will Benefit From Bail Outs, Also Promises Significant Weight Loss and Clear Skin

By: Comparisons of Obama and McCain Tax Proposals

Comparisons of Obama and McCain Tax Proposals — Thu, 25 Sep 2008 20:15:26 +0000

[...] It is worth noting that following this week’s information that an economic “crisis” has been looming for some time, I don’t believe that most of these proposals will stand “as is.” I don’t know that immediately cutting taxes for any American is a viable option at this point, especially when we’re about to write some pretty big checks. [...]

By: For Those Of You Following Along At Home… More Bailout News

For Those Of You Following Along At Home… More Bailout News — Wed, 24 Sep 2008 15:41:50 +0000

[...] This is scary, folks. It’s not just a few dollars of someone else’s money. It’s yours and mine. [...]

By: Miranda

Miranda — Tue, 23 Sep 2008 12:15:44 +0000

Great post! I think the big “if” is the idea that someone else will buy this debt down the road from the government. I mean it’s “bad assets.” Everyone knows this. So why would anyone buy them? It’s not like a few years ago when de-regulation came and everyone said these credit derivatives would be wildly profitable. Now we know that they are a bad idea — as Warren Buffett once called them: “Weapons of financial mass destruction” (and that before this mess really blew up).

So, since everyone really knows what they are, why would anyone buy them? Which means we will, in fact, be stuck with the bill.

By: Ayn Elise

Ayn Elise — Sat, 20 Sep 2008 22:30:44 +0000

Taxgirl said ” Isn’t that thinking how we got into this mess to begin with ” ?

Taxpayer says ” Why yes, as I see that is absolutely correct. ” Taxpayer follows with ” And that is what will continue to keep us in this mess and more to follow unless something changes and SOON. ” But to that:

The Powers that be say ” La,la,la–I can’t hear you. ”

While the taxpayer wishes that her Gram was still around to remind her how crappy things got during more than one bygone era….so I can have my facts straight as I watch history repeat itself…but, I digress…

Anyway, Right on the head, Kelly

By: Urbie

Urbie — Sat, 20 Sep 2008 13:57:05 +0000

As a limited-government enthusiast, I hate to say this, but something had to be done. I’ve been out of work since February, and if the financial system goes kablooey, hiring will come to a complete halt. Ya, it’s “socialization of risk,” yada-yada, but spare me the moral-hazard argument — no one ever learns anything anyway. The economy simply has to be patched together, otherwise you guys are going to be joining me in the… well, not the unemployment line, because I didn’t file for unemployment (I had been working as a W-2 contractor, so although I was eligible, I don’t think that’s what unemployment insurance is for, so I took a pass), but we’ll be finding out firsthand where my Dad’s tedious Depression stories came from….

Urb

By: Death & Taxes

Death & Taxes — Sat, 20 Sep 2008 13:02:39 +0000

What we have here is the socialization of risk.

By: Fittingly, It’s ‘Talk Like A Pirate’ Day

Fittingly, It’s ‘Talk Like A Pirate’ Day — Sat, 20 Sep 2008 03:33:32 +0000

[...] “We’re talking hundreds of billions of dollars…” -Henry Paulson, Treasury Secretary [...]

By: Phoenix

Phoenix — Fri, 19 Sep 2008 23:38:00 +0000

@ Jean – that’s funny how the casinos use the 97% as if it’s a good thing. 97% on 100% of your money means they’re keeping 3 cents for every dollar put into the slots. Hmmm, give $1 and get back 97 cents, i’d definitely say that’s how are government’s been thinking lately.

By: Jean Murray

Jean Murray — Fri, 19 Sep 2008 20:47:26 +0000

It’s the old “shell” game – Which shell is the pea under? Turns out it’s not under ANY of them.

We have lots of casinos here in Iowa and they advertise “loosest slots” (whatever that means) and 97% payout, but the gamblers still lose.

As long we continue to elect people who want to play fast and loose with our money, this is what will happen. (I know Paulsen wasn’t elected, but his boss was.)

By: Kristen King

Kristen King — Fri, 19 Sep 2008 20:21:25 +0000

Amen, sister! Will this country NEVER learn??? I’m starting to think it’s something in the water…