Jobs are the best bailoutPosted Wednesday, December 10, 2008, at 11:37 AM
President-elect Barack Obama is proposing the correct method of restoring the nation's economic health, and it has nothing to do with bailing out the greedy rich and everything to do with helping the average American.
As the Bush administration winds down by throwing trillions of dollars into black holes, Obama is proposing a jobs creation program, which reminds us quite a bit of the programs FDR used to bring the country out of the Great Depression. We're not in a depression -- yet. We're simply in the Great Recession. But action to prevent it getting worse will have to be taken. Bush believed in "trickle down" economics. The theory was, give tax breaks to the rich and they'll use the money to re-invest in business expansion and more jobs. It's not the first time that theory has been tried -- and every time it has failed. The rich don't ever invest their own money. At best, they use it for collateral. But instead of investing in jobs, they've tended to pour the extra money they got from the tax cuts into high-risk high-return investments, and when those went belly up the taxpayers are now bailing those investments out. The little guy got hammered while the rich got the money and skated. Meanwhile, really horrible corporate decision-making is now coming home to roost. So far, almost none of the CEOs who've sought bailouts for their firms have even lost a spare condo or two in Aspen, but at least a million and a half jobs have disappeared. The one set of programs that have been shown historically, not only in this country but in other nations around the world, to actually improve an economy spiraling downward, are government jobs creation programs. Like FDR and his CCC and WPA, Obama is planning on investing in infrastructure, fixing the nation's deteriorating roads and bridges, building schools, and creating the infrastructure for a new, "greener" energy base for this country. That's using tax dollars to give people the dignity of a job and to rebuild America's ailing infrastructure. It kills two birds with one stone and the paychecks it will provide will show up on Main Street, not Wall Street. It's not cheap, but it is a far better investment -- an investment in the American people -- than the current seemingly endless series of corporate bailouts. It's a silver parachute for America, rather than a golden parachute for greedy, stupid CEOs. Comments Showing comments in chronological order [Show most recent comments first] |
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I really agree with you.
I don't. Giving billions to the same idiots who couldn't handle it the FIRST time, is just throwing "good money after bad."
Congressional Republicans are calling for CEO replacing, without these multi-million dollar "severances", before they start talking about any "bailouts"
This shouldn't be "rocket science"...........if you personally invested say, $20,000 with some broker who LOST it for you............would you give him ANOTHER 20 grand and a second chance?
This is OUR money.......and ok....we probably DO need to do some kind of "bail-out" but there's more to it than justing printing out a bunch of new money.
Like so many of the Republicans in D.C............I TOO would like to see some "changes in management" before we just arbitrarily hand over another big gob of money we don't have.
We're going to be OWNED in the not too distant future after they get done selling this country out.
Just yesterday........on the radio.......China has just opened a new bank in New York City.......with over a trillion dollars in assets.
Like a cancer...........a little bit at a time.
So OK..........let's BAIL if we need to...........but let's FIRE first!
Perhaps you are right the individual is the victim here, a victim that requires a hand out in order to get back on there feet.
But, if we are going to talk about the evils of greed and how it has caused our current economic woes let us put the blame on the very people you wish to bail out with government jobs. The people who purchased more home than they could afford the people who misrepresented wages in order to secure a loan for that house, the people who didn't take the time to understand just what an ARM will do to their payment over time.
Is the individual home buyer mentioned as the cause of the problem, no. It is the corporations, the lenders, the government, by no means should we expect individuals to educate themselves about personal finance and expect them to make responsible decisions with the money they earn. No no, hand them a government job when times get tough thus rewarding the entire process.
Good point, but add another to it........if it wasn't for the illegal tax system in this country, and the BILLIONS of it that this government WASTES, helping everyone else but OUR country.......the American worker would have a lot more money in his pocket than he does now.
IF, as per our "Constitution" (which seems to be a forgotten word these days), every American was taxed only on WHAT he BUYS (ie: the TARIFF system we were founded upon), and he didn't have to be robbed beyond that, he'd be a lot better off.
Almost ANYTHING you can name, there's a tax on it. It's getting to where you almost need to buy a permit to BREATHE.
Even after you have the DEED, you still have to pay property tax on a home you presumably "OWN".....or they can take it from you.
If they need it for a freeway or shopping mall, and you don't want to sell.....guess what?
Buy a 65 Chevrolet that's already seen 4 other owners......that car was taxed when it was purchased NEW....but everytime it changes hands, it gets taxed AGAIN!
Know where all your "witholding" goes? To the Federal Reserve Bank, which is no more "Federal" than Federal Express. It's owned by private bankers.
Then, if that isn't enough, you're told you have to file a return every year so they can try to get even MORE of what they're not entitled to, although no IRS agent can show you the statute that even REQUIRES any of us to file a return.............but if you DON'T, you're in trouble with an illegal organization that couldn't even pass its own GAO audit in 1992, unable to account for MILLIONS!
("Chump change" to THEM)
You can't even have a lousy SAVINGS account in this country without the Feds taxing the INTEREST you make on it!
But the old crocks in D.C. aren't hurting for anything, are they? We don't even get to decide if they've done a good enough job to DESERVE the pay raises they vote for themselves at will.
Ever seen a list of the projects and grants our government has funded? Check some of THOSE out sometime.
I agree, rxjki, and you're very correct....people shouldn't try to live beyond their means, but if people were allowed to keep what they made, there wouldn't be this "great need' for credit cards, etc. And they'd SPEND more, thus boosting the economy.
Yes.........there would still be enough money for defense, highways, utilities, because they'd still be taxed on what they used, which might even cut down on waste, through frugilty alone.
What did we do BEFORE 1913? When they started taking from us without permission?
Yes, there'd be adequate funds for the necessities...........it's the PORK and PERKS that would be left out! The U.N. would be gone, and the REST of the world would have to make its way through life without our assistance.
Through poor trade policies and foreign aid, our government has put US as one of the great "debtors" on this planet.
The working man's role in our economic woes, is very dismal, up alongside the the treachery and extortion by decades of this two party system, with it's "no-term-limit" gang of fat-cats back there.
In a way though...........you're right about the individual's responsibility...........the thieves who fleece, deceive and sell us out.....couldn't do it, if all of us "individuals' had brains and conscience enough to vote these "career politicians OUT!
And that IS an individual responsibility.