So the House failed to pass it on Monday, so the Senate tweeks it a little--a very little-- and passes it yesterday and now the House is expected to do likewise. Please God NONONONONONONONO!!!!!Why should those of us who have not done anything wrong have to cover the rears of those who did? Why should such a tax burden be placed on us to save the rears of the poor businesspeople and poor companies and poor decision makers who got their companies and customers into such a mess to start with?
There is no reason under the sun that would convince me that any bailout is a good idea. Make poor decisions, get greedy and sell people stuff they can't afford (yeah the fault lies with those people too) and then cover your butt on the shoulders of the taxpayers and consumers ? Hell no.....Do you have an extra $2300 per person in your family to pay to salvage these companies? I don't ...my money is something I have EARNED through my hard work, and it is used to pay the house payment--which we are current on----and feed my kids, and keep the utilities turned on, and so on. It is not for those who don't work, or those who screw their customers and employees and the govt and so on, to make a cushy little pile for themselves.......As I have said in a prior post, if I made poor business decisions, misused my customers or employees, ran up debt and ran my company in the ground, I would not deserve to have a job, much less the hefty golden parachutes of these CEO's, etc. They deserve to be left in the streets, no severance package and liable for the costs of repairing the damage their actions caused.....
And for those of you voting for Obama---many of his cronies are very involved in this mess---many of them either helped create it or seem to think they are the solution, when the only thing they can propose is more of the same..I'm not saying the McCain camp is blameless either, and I fault both candidates for pushing this blasted mess onto the shoulders of America as a whole. I understand the whole what happens on Wall St affects Main st...I really do......but Main st. should not have to foot the whole bill for the f**** up way Wall st has been doing business....And they have been doing business this way for many many years---not just since Bush took office-----a lot got going while Clinton was in there.....read your history books----and not the rewritten ones of the last couple of years.......you know the ones that totally denounce everything we learned as kids in school.....but that is an argument for another day.....
Let's put it this way: raise our taxes to foot the bill for this debacle, spending goes down, forcing businesses to raise prices and cut payroll (that means cutting hours employees are scheduled or cutting positions altogether). Which cuts spending further. Which forces harsher action on the part of the company to maintain profit---and in the case of some smaller companies, forces them to maybe even shut their doors, putting people out of work. Ok then,,,,less people working=less people paying the jumped up taxes, putting the burden on those still with jobs. Spending goes down further, etc......see the vicious circle? Get it through your thick skulls yet?
Now, most companies do not use their own cash flow to run their businesses...They run on lines of credit from banks or other investors. Most times even your very paycheck is drawn on a line of credit like that......So those lines of credit dry up, as they are doing now.......suppliers don't get paid, which means less product to for customers to buy, which means less money to pay back the extended credit with, which means someone else doesn't get paid, which means......ok NOW is it sinking in????
Yes we are probably in for a hard recession.....many of years with some actual years of life on us have been through at least mini-versions of this before......and lived through it. Forget the bailout, let the companies sink or pull themselves out by their own bootstraps---let the survival of the fittest begin as far as business goes. Maybe they will learn something and do better next time.....or they will be absorbed by those who were better at it than they were and life goes on.......Go back to living on cash, not credit, oh ye companies with these problems.......
Go ahead bash away........I didn't hold a gun to your head and force you to read this, now did I???
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