Obama releases $2 billion from stimulus for U.S. justice - Page 2 - Mercedes-Benz Forum

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post #11 of 25 (permalink) Old 03-07-2009, 07:36 AM
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That sounds good on paper but, from what I read about Las Vegas that will mean that a minimum of 100,000 folks who had foreclosure flilngs in 2008 and the 15,000 Bankruptcies will be pretty much barred from contributing to the economy for the next 5 years or so as they straighten out their finances. And that doesn't include the folks who are "just" behind on the credit cards and rent and car payments [another Nevada per capita record]. So all that dust that is gathering around the glitter is going to stay a while longer than expected as more businesses close as more people are not able to contribute to the economy.

And that glut in the housing market that Vegas has will just keep getting bigger and housing values will keep depressing for everyone, including those who do pay their bills.

But don't worry, when those values go down, and the tax assessor sees a reduction in tax revenue from property taxes they will just raise the rate to insure the schools and fire department and police and sewer still are functioning.

So let's just let it crash. Vegas is a gambling kinda town. I'm betting that if you just let that housing thing go and let the homeowner learn their lesson it might just come up snake eyes.
Who knows what it means. A house that sold in 2005 for 220,000, has now sold for 75,000. The bank paid 193,000 at the foreclosure. So the bank has a loss, that decreases the bank's capital, therefore the bank can't loan as much as before. The bank is legally permitted to get the deficit from the forclosuree, but that's a dead end anyway. Now who should suffer the loss? The Bank? The Mortgagee? The USA? Everyone? No One? The USA just replaces the funds into the Bank and takes a part of the Bank?
Who benefits? The person that bought the house for 75,000? Oops, houses are now selling in the same area for 35,000. The person that sold the house for 220,000? Oops he bought a house for 400,000 that sold for 120,000 and he lost the 220,000 that he put down.
Eventually it gets down to the Bank taking the loss. Hence we have the bailout. These are the facts of the case and they are indisputable.

Being Bankrupt isn't an end to participating in the economy. Some banks like it because you have a clean slate and have learned a lesson, you can still get credit but at a higher interest rate, which banks like too.

The tax assessor has the system set up so it's a long time before he sees a decrease.

Long story short, everyone has to have skin in the game, everyone has to take a hit. Just so you know it coming and can prepare.

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post #12 of 25 (permalink) Old 03-07-2009, 09:31 AM
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The relevant question is who's fixing it and the current leadership ain't the answer.
So what is your ‘answer’?

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Tell me,
what answers do the Obama team have for someone who has just lost his/her job because their company needs to cut costs ?
What’s the right’s response to that?

The right whines about and bemoans the Obama Administration’s program with regard to addressing the crisis yet offers no solutions or answers of its own.

Rather than playing politics why doesn’t the right contribute?
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post #13 of 25 (permalink) Old 03-07-2009, 11:14 AM
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"the right" only have the "loyal opposition" position. They have expounded their position as being (via Rush) "I don't want Obama's policies to work"

So they can't contribute. They can only voice the protest.

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post #14 of 25 (permalink) Old 03-07-2009, 11:27 AM
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"the right" only have the "loyal opposition" position. They have expounded their position as being (via Rush) "I don't want Obama's policies to work"

So they can't contribute. They can only voice the protest.
The protest you are hearing from the right concerns the piggybacking of an enormous socialist, nationalization agenda upon the recovery program. No one on our side is really disputing the usefulness of infrastructure work, but feeding teacher salaries, adding $634 billion for health care, terminating welfare reform, and supporting bad lending/borrowing policies has disastrous long term consequences. What is happening from the Bamster admin is an all-out assault of what remains of capitalism.

Charter member of the Vast Rightwing Conspiracy and proud of it.

God Bless the America we're trying to create.
--Hillary Rodham Clinton
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post #15 of 25 (permalink) Old 03-07-2009, 11:38 AM
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Capitalism ends with a violent revolution, that's the way I read history.

Communism seems to fade with a rise of a rich class and a increase in poor.

America has some laws enacted long ago that are now reaching a wave, a tsunami of spending. Medicare and SSI for the baby boomers that are soon to retire. Healthcare cost control is the apparent method of decreasing that wave.

Don't worry it will all work out in the end, you just keep voting.

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post #16 of 25 (permalink) Old 03-07-2009, 12:42 PM Thread Starter
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So what is your ‘answer’?

What’s the right’s response to that?

The right whines about and bemoans the Obama Administration’s program with regard to addressing the crisis yet offers no solutions or answers of its own.

Rather than playing politics why doesn’t the right contribute?
If your question is real, read on otherwise ignore my post.

Say you are the owner of a business, sales are falling, you need to cut costs but at the same time many of your employees are long time friends and partners, and you KNOW the products and services are still relevant in the marketplace,but the projects might take a tad longer to yield profits in this state of the economy, so cutting off your employees would be a triple whammy of lost income, lost innovation and possibly lost skill.

What other major line items are there affecting your bottom line ?

Taxes. I can guarantee that were taxes reduced in the stimulus package , SOME jobs would have been saved because it's a simple math equation : Sales - costs - taxes = profits

But no...... we get a Pelosi Porkulus Handout to selected industries, the majority of which are in construction which we are might good at but are overly imbalanced towards due to the boom.

What has the Obama administration done to save the rest of the industries who ARE STILL SOMEWHAT HEALTHY and the jobs in them ??
NOTHING.

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post #17 of 25 (permalink) Old 03-07-2009, 01:03 PM
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reduced taxes won't increase sales.

reduced taxes will only delay the inevitable if sales don't increase.

the right has only one answer, cut taxes,

and while that might be the right answer some of the time it's not the right answer all of the time, but it sounds good all of the time.

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post #18 of 25 (permalink) Old 03-07-2009, 01:05 PM Thread Starter
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reduced taxes won't increase sales.

reduced taxes will only delay the inevitable if sales don't increase.

the right has only one answer, cut taxes,

and while that might be the right answer some of the time it's not the right answer all of the time, but it sounds good all of the time.
I am not talking about increasing sales. I am talking about preventing job losses now. It's the downward spiral of healthy businesses we should be trying to avoid; instead the government is propping up the dead industries (construction, real estate and oh yeah, how can I forget, WALL STREET).

Ask any friend of yours who owns a business.

Last edited by mlfun; 03-07-2009 at 02:32 PM.
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post #19 of 25 (permalink) Old 03-07-2009, 01:16 PM
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Cut your taxes and your costs. Fire Em!

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post #20 of 25 (permalink) Old 03-07-2009, 02:00 PM Thread Starter
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