Letters to the Editor
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why not just get rid of taxes?
And run the Government on Credit from the Banksters. Oh wait...
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Carli Fiorina
Wonderful! That's a person I really trust to understand how to 'fix' the economy. The same person who left Hewlett-Packard in a mess! John McCain continues to surround himself with quarterly reports worshippers while the United States needs real conservative reform. How in the world can someone justify bailouts to banks from the semi-private federal reserve while refusing to extend unemployment insurance for 'real' people hurt by financial drones' mess. I McCain remembered how hoodwinked he was in the Savings and Loans mess, he would realize that sometimes federal monetary and banking regulations are necessary simply because of the federal government's massive involvemnent in the monetary and banking system. The involvement of the federal government in the banking system creates systemic risk which necessitates significant regulation, not regular bailouts to speculators.
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If you're going to fail, fail big
That's the message to the investment banks - when you screw up, make sure it's big enough to "take down the entire economy" so you can get a taxpayer-funded bailout, rather than just going bankrupt.
Sigh.
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Carli and John - twue conservatives and moral hazard
Greetings
Just lovely, fail HUGE and 'Helicopter Ben' saves your mansion and Golden Parachute but for most of us, not so much
For the plebians, the little people, the jobs go offshore, the house goes back to the bank and mostly we get a lecture about being "imprudent" in our strategy
When this ecvonomy falls into depresionm and even that cheap plastic Olympic logo crap from 'slave labor land' don't sell at the big W perhaps the rich folks will notice a tiny crimp in the cash flow...
Maybe not!
Wealth has a way of blinkering one to reality, look at our boy Dubya ;)
Enjoy the journey
WarLord
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Greedheads call this 'only fair'.
". . . getting rid of the capital gains tax . . ."
This means that only people who actually work for a living get taxed.
Those who spend their days laying about the pool waiting for their checks don't get taxed. They don't have to work. They have thousands of wage slaves working for them, so they don't have to.
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So why is that....
such a terrible idea. If I move my money around should I be taxed on it?
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Vintage Reaganomics
This was the same path Reagan proposed,after much negative debate from across the aisle guess what?,it worked.The same way a strong defensive posture in Europe was slammed by the Democrats in the 1980's ,well that wall came down as well.Capitolism works,supply and demand,we got the laws we wanted from people we elected,if they don't work change them so if we have to bailout another major institution the culprits are prosecuted like any other criminal and are sent away for a very very long time.Where was the outcry when these bad mortgages were being done?There always has been far more stolen with a pen than with a gun and it's time we reigned in some and dealt with the worst of the criminals.The answer is just not to bailout either everyone or noone ,it's to treat the problem not the symptom.There has never been a successful Socialist solution,from the Soviet Union to Cuba, because it denies incentive and free will.We need to free up capital and the capital gains move would so the little guy can have at least some access.We need investors in our economy to have faith in it and seek opporunity here.What is Clinton's or Obama's solution?Will it be just as much a bag of hot air broken promise as the democratic congress's path they've led us down with thier inaction and gridlock?With all the negatives around President Bush,Pelosi and pals have managed to attain even a lower approval rating with the population.The McCain solution is still based on what has worked in the past not what never has.The liberal elite ignore this.
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Christmasinthestars
the United States needs real conservative reform.
Any more 'reforms' at the hands of conservatives and we are undone.
We have conservatives to thank for nine trillion dollars in debt and an economy teetering on the brink. True to form, they're about to make another whopping mess for their successors to clean up.
Time to bring back the Democrats, the Party of Fiscal Responsibility. Conservatives don't know the meaning of the word.
How in the world can someone justify bailouts to banks from the semi-private federal reserve while refusing to extend unemployment insurance for 'real' people hurt by financial drones' mess.
Sheer greed, unmitigated by any conception of social responsibility.
Give a choice between foregoing an extra million to save thousands of people from destitution and misery, and taking the million and letting them die, the greedheads will take the extra million every time. People are disposable.
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'axes
It's not a bad idea to make businesses more efficient.
We have to look at why people are SOO dependent on credit, though.
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@lburgler
We have to look at why people are SOO dependent on credit, though.
I'll offer a guess: We have a culture that places great value on material things and measures people by the things that they own. People would rather go into debt than be looked down upon by their neighbors for not having enough flashy stuff. The credit card offers quick and easy relief from feelings of inadequacy.
Add in the fact that incomes have not kept up with increases in the cost of living and you get a complete answer. It might not be not the only answer, but I think it's a correct one.
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Welfare for the wealthy.
There are two kinds of Republicans: millionaires and suckers.
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If that's the case then jigger capital losses too.
If my tax on gains drops to zero then its debatable whether losses should carry. There would no longer be an offset. Of course that would crush every person who owns an income generating piece of real estate. Be careful what you wish for, rads, you might just slaughter all small businesses yet.
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Details
We can move our 401K money around between various accounts (e.g. Money Market, Stock Market, Bonds) without paying taxes. So why not let banks and such move their reserves between tiers without taxes?
I believe this is moot, though. This is not the magic fix. It is a smallish item, thrown out to distract us.