Economic stimulus checks should have been sent to every American with who filed taxes

Discussion in 'Economy' started by 52ndStreet, Oct 10, 2010.

  1. 52ndStreet
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    52ndStreet VIP Member

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    President Obama economic bailout of Wall street brokerage houses, and some banks,should have been followed by a a bailout of each American that filed income taxes
    and or who were unemployed.

    The banks and brokerage houses are not spending the stimulus bailout money, as the president thought they would.

    I do think that if each and every tax paying American was sent a bailout, or stimulus check for $10,000.00 dollars, they would spend that money, and in turn stimulate the entire American economy into increased production, and job creation.

    President Bush had the right idea. A direct stimulus check to every tax paying American.
    The Obama administration had the economic stimulus all wrong. The tax paying consumer
    should have received the stimulus bailout first, not the Wall street fat cat bankers and brokers. This would have immediately turned the entire American economy around.:razz:
     
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    Last edited: Oct 10, 2010
  2. Neubarth
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    Neubarth At the Ballpark July 30th

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    Though that would work for a limited time, the key to economic improvement is Job Creation in the Private Sector.
     
  3. KissMy
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    KissMy Free Breast Exam

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    That is exactly right! The stimulus should have been for everyone, not just for democrats, unions & politicians.
     
  4. loosecannon
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    loosecannon Senior Member

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    Too Funny!
     
  5. impalero
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    impalero Member

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    Why would the banksters loan out the money when they can get it for virtually free .25% from the US Treasury?

    This also disproves the notion that the banks have to do what their told (loaning out money for housing pre-bubble)

    They only do what makes them a profit and and in the pre-bubble days, they played hot potato by packaging up securities and passing them on to the next sucker rather than holding it. They knew what they were doing, after, they are the best and brightest, and top talent wall street has to offer.
     
  6. asterism
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    asterism Congress != Progress

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    $10,000 to every taxpayer would have cost $1.4 Trillion. I'm not so sure about whether that would have been enough stimulus and whether we could afford it. It's certainly a whole lot better than the same $1.4 Trillion being spent on bailing out bloated state governments, "infrastructure," and banks only to be told by the Keynesisans ("demand-side economics" adherents) that the problem with our economy is demand and the means for consumers to pay for that demand.
     
  7. asterism
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    asterism Congress != Progress

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    Federal regulations on lending at this point according to my banker.
     
  8. loosecannon
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    loosecannon Senior Member

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    You misunderstood something. They were supposed to lend that money, but they won't.
     
  9. impalero
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    impalero Member

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    Would that not be just kicking the can down the road?
    Waiting for what?
    What has changed?
    It sounds like giving Americans money to make up demand that credit, via equity and credit cards can't provide now.

    The answer is increased wages, or a decreased cost of living. (Medical, Auto, Education, Food)

    With Heli Ben at work, I'd say he is going the wrong way by inflating the money supply.

    It may make debts cheaper to deal with, but it will only make some things more expensive as well. Especially, goods we need to survive by, not imported junk from China. I'd imagine the junk from China would get cheaper, as it already is now, thus hurting business's even more. I believe biflation is occuring.
     
    Last edited: Oct 10, 2010
  10. impalero
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    impalero Member

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    Exactly. They are acting within their best interest, just as they did with the housing bubble.
     

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