How would you fix the current economy?

[bigalpha]

Since the next economic bailout is coming and the general consensus is that it's pretty much a steaming pile of poo,

How do you think is the best way to handle this economy?

Do we keep propping up these companies who would otherwise go bankrupt? Do we let them fail and let things work themselves out? Are these companies too big to fail?

I'm almost of the mindset to let them fail. Of course, nobody really knows what would happen if these huge companies did fail. I bet it'd be alright.

It's kind of the 'survival of the fittest' for business.

 

[rhinoron713]

#1 no more bailout for businesses PERIOD!!!!
no one gave these company's billions to start them up in the first place
they were born out of need and ingenuity......smart and crafty will make it

this is what I think should happen : If nobama just simply payedoff each and every home for the homeowner that was current on thier loan or are in trouble BUT not to the point it's in foreclosure ,this plan will save it for you :If you are not qualifyed for home payoff then a $15,000 taxbreak. I think it's like 70% of the U.S. population are homeowners and just IMAGINE what the money that the population of EVERY city in the us would infuse in the economy with NEW tv's,auto repair ,home improvements,clothes,investments(a 2nd home)new cars,eating out ,trips to target ,the mall ....ETC.the list goes on to anything but the point is that from the money being dumped back into the us economy it will also generate taxes . We all know taxes are needed and we all pay enough @ work so the best way to generate these extra taxes is through purchases and i'm not talkin about raising them ....leave them right where they are .
IMHO this would be the best HONEST way to help the U.S.
CHEERS!!

 

[old_man]

A one year tax holiday.
Investment tax credits.
R&D tax credits.

 

[IslanderOffRoad]

Leave it the hell alone, let it fix itself, like its supposed to.

 

[8Mud]

Invade Mexico.

 

[WrenchMonkey]

A one year tax holiday.

That's just what I was thinking, though a year would be expensive, something like 2.5trillion.

But if we're spending one trillion anyway, we could do four months, tax-free.

Imagine how much your spending would go up, if your takehome pay suddenly went up 30-40%?

Now imagine that extra money in everybody's pocket.

Now imagine all the extra business activity, taking advantage of that "holiday."

Plus, I like the idea of getting the government out of the way.

And all of Obama's spending will stick around for years. You can bet your ass that a four-month tax holiday would definitely be a temporary thing!

Robert

 

[seanR]

Secure the borders, send the illegals home.
Quit giving money to all the two bit third world countrys.
Impose heavy tariffs on imported Chinese and Asian junk.
Give tax credits to U.S. companies that manufacture their wares here.
Heavily tax U.S. companies that manufacture their wares abroad.
Start spending Federal tax money on infrastructure, Rail, renewable energy, hydrogen, etc.

That would be a good start....

 

[XJEEPER]

Problem with your plan Sean, (agree with most of it, BTW) is that it makes our government smaller, accountable and a servant of the People.....the US Government has been allowed to become the largest corporation in the world, and We the People are their employees.

 

[redeye202]

What seanR said.
redeye202

 

[bigalpha]

How would it affect us if these massive corps went bankrupt? Would your house be worth $0? Who would take on your mortgage?

These other big corps that are hurting and getting bailout money .. if they went under, do you think it'd destroy what's left of the economy?

 

[FitchVA]

Leave it the hell alone, let it fix itself, like its supposed to.

[/thread]

 

[kujito]

If nobama just simply payedoff each and every home for the homeowner that was current on thier loan or are in trouble

That would take WAY too much money. The U.S. Census Bureau estimates that there are 75,508,000 owner occupied homes in the U.S.(4Q, 2008). As of October last year, the median existing home price was $183,000. At that price it would take nearly $7 TRILLION to pay half of those homes off, if all interest was forgiven.

 

[XJonny]

well after the first bailout $$ was counted up, it was figured that every person over the age of 18 in the US, could've been given 400k. WTF over

 

[IslanderOffRoad]

well after the first bailout $$ was counted up, it was figured that every person over the age of 18 in the US, could've been given 400k. WTF over

If they did that the inflation would be outrageous. I dont want to pay 2 grand for a loaf of bread.

 

[XJonny]

c'mon it would be fun, just like Russia

I never said it would fix anything, just putting into perspective how much dough has already gone to saving companies. Personally I would like to see them fall on their asses(natural course of selection has always worked best). Frankly I don't think there is anyway to recover until faith in the dollar is restored, and thats not going to happen anytime soon. bailout money - borrowed from the federal reserve(a private corp.) with compounded interest. I'm no financial anal-ist but when the Gov borrows money at an interest rate it can't afford, and then gives it to big Corps. It just doesn't make sense. Its not like the Corps. are going to pay back the money that the Gov has borrowed from the Fed for them.

again wtf... over

 

[kujito]

well after the first bailout $$ was counted up, it was figured that every person over the age of 18 in the US, could've been given 400k. WTF over

Sorry, but this is incorrect as well. USCB estimates the U.S. population over the age of 20, as of July 1. 2007, at 219,259,405. $400k each would be nearly $87 TRILLION.

 

[XJonny]

extra 0 in there, not like it really matters... Oh and I wouldn't believe UCSB figures either, my ex is a lying B. Not that the following is any better.. this is old, and the "latest two large economic stimulus bills" are refering to pre-bama obviously.


taken from yieldingwelath.com

One of the big questions that many people — including myself on CNN Money — have been asking is this one: How much would we get if the bailout went to taxpayers instead of banks? We’re funding this bailout, so it is no surprise that people are getting a little anxious about who is getting this money. And how they’re using it. So, here is the answer that CNN Money came up with:

Answer: $9,718.49

To arrive at that figure, CNNMoney.com took the total of the bank bailout, $700 billion, and added that to the proposed stimulus spending in the House of Representatives bill, $819 billion. That totals $1.519 trillion.

We then divide that number by 156.3 million, which was the total number of U.S. filers in 2008.

So: $1.519 trillion divided by 156.3 million equals $9,718.49 per U.S. taxpayer.

Now, this figure only includes the latest two large economic stimulus bills (the one in Congress now and TARP passed last autumn). The real number spent on economic stimulus measures so far — most of it benefiting banks and some of it going to pay for executive bonuses and perks — is something right around $7.2 trillion. And that’s without the economic stimulus bill currently being considered. So, with a little quick and sloppy math, you can take that $9,718.49 and multiply it by seven and get pretty close with this estimate: If all of the economic stimulus spent so far had been giving to taxpayers, each would get right around $68,000.


disclaimer - none of the previous remarks are endorsed or checked by xjonny, as such xjonny cannot be held responsible for said remarks on this or any forum. thank you have a nice day. =)

oh 40k after taxes of course =P

 

[bigalpha]

I'd be down for $9k. Man, that'd pay all sorts of bills.

 

[XJonny]

I also agree with Sean.. holeheartedly(s/p?)

to bad our tax money pays the interest on our country's loans from the federal reserve.

 

[rhinoron713]

It dos'nt even matter anyways the all mighty dollar is gonna be worthless before long ....horde gold schillings!!!!