Posted on 09/29/2008 11:43:59 AM PDT by quesney
G*d Bless America!!!!
I had my doubts. I really did. I forgot that this is still America and there are still enough Americans who know what that word means!
We should all now support a pro-growth alternative that reaffirms fundamental American political and economic principles and reinforces our economy's inherent strengths and advantages.
Get free-market economists together to advise on a solution that softens the necessary adjustment, prevents us from ever going down this road ever again -- a solution that strengthens American political and economic principles instead of compromising them.
A Rescue Plan that solves the problem without socialism, without rewarding irresponsible excess, without breaking the Constitution and violating this country's founding principles
1. Instruct the geniuses from Fannie/Freddie to Wall Street to deal with it. They made this mess; they should mop it up. Cut back, sell assets, develop fresh services, or get new jobs. Absent a federal bailout, Lehman Brothers sold parts of itself to Barclay’s Bank.
2. Give the capital-gains tax a two-year vacation. Suspending capital gains taxes would bring as much as a trillion dollars of capital sitting on the sidelines back into the market.
3. Cutting America’s 35-percent corporate tax — the industrialized world’s second highest, after Japan’s — would boost U.S. global competitiveness. Since equity prices partially reflect long-term after-tax profits, lowering corporate levies should buoy stock markets.
4. Denationalize, then privatize Fannie and Freddie. These troubled financial Frankensteins — created in a government laboratory — are not creatures of the free enterprise system...We must ultimately take their monopoly powers away and return them to the marketplace. Why not array Fannie’s and Freddie’s loans according to mortgage holders’ surnames? They then could be divided alphabetically into 26 units and auctioned off.
5. Waive “mark-to-market” accounting. When distressed mortgage-backed securities sell at bargain-basement prices, unhelpful new bookkeeping regulations require that similar instruments elsewhere — including viable loans — be valued at equally low prices. This needlessly stains balance sheets.
6. Strengthen the dollar. Bernanke should boost U.S. currency, not pose as America’s uber-stock broker. A strong dollar lowers inflation, cheapens oil, and soothes world markets.
Excerpted from Delroy Murdock column: http://article.nationalreview.com/print/?q=YmMxNTg0Mjk3MmM3YmExNTI3MzY0NDVjYWMxMDE2ODI= Cut for brevity
This is a gigantic opportunity for McCain. He and the House Republicans can take the lead.
The people have spoken. A huge segment of Americans realized that the corruption in the market and the Government better listen. Bush, wake up. This guy has been in a coma far to long.
well the dollar is a lot stronger now and crude is down. yes the dow went down but remember that most of that drop was inflation and not real.
Ok, someone help me here. They had $700B to throw at the bailout. Now it’s not happening. Is the $700B a surplus? Where does it go now?
Don’t count those chickens yet. On several other threads I said:
It was all a ploy. Now the republicans have an “excuse” for voting “yes”. “I had to do it. Otherwise there would have been a total meltdown.”
With the country two steps away from losing faith in our financial system, was this a good idea to vote down this bill? Personally I’m thinking about heading to my local bank to withdraw my funds before the runs begin.
“this is a gigantic opportunity for mccain. he and the house republicans can take the lead.”
amen.
but, if these proposals are put forth, you can bet that the “mainstream media” will badmouth them as tax breaks for the rich, windfalls for the rich, benefits for the rich; they will scream racism and the left will stir up dissatisfaction and foment revolution as they usually do.
we are living in dangerous times and these obviously far-left democrats will exploit them to the hilt.
(may the house republicans stand up further and offer healthy economic proposals for a disease planted by the left-wing revolutionaries of the congress.)
IMHO
Does anyone know if there is a place to go to see how each congressperson voted? Thanks.
Be afraid, be very afraid!
I have to admit i really don’t understand this whole thing.
But I’d be willing to take some hard economic hits to avoid the slippery slope to socialism.
Don’t count those chickens yet. On several other threads I said:
It was all a ploy. Now the republicans have an “excuse” for voting “yes”. “I had to do it. Otherwise there would have been a total meltdown.”
“Personally I’m thinking about heading to my local bank to withdraw my funds before the runs begin.”
A wee bit Chicken Littleish don’t ya think?
I believe that, it’s all a show, tonight when we’re asleep they’ll pass a new one complete with ACORN money, they have no guts ...
“Calling Walter Williams!”
“With the country two steps away from losing faith in our financial system, was this a good idea to vote down this bill? “
We may have a run on the banks, which I think the FDIC can handle. What would have happened if the feds had dumped a $trillion into circulation?(I don’t believe it would have stopped at $700 billion. The govt always underestimates the cost.) A run on the dollar, that’s what. A collapse of the currency would have been far worse than a run on the banks.
No.
All in all we are probably screwed no matter what action is taken or not taken by the Congress. I think we are one step away from a general panic by the public and yep there will be lines at the banks.
YES...That is what they need to do. What is really sad is that all of this time has been waisted this bill. They really needed to be working on a good bill.
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