Starting to wonder if I havent made a mistake voting democrat

[maldorf]

I was a lifetime republican until that last couple of elections. I voted all democrat this last election in the hopes of changing some of the bad things I saw happening in the US.
Today I hear that a bill has passed in the house of reps that will tax people who get bonuses if their company took TARP money. The tax is 90%, yeah 90%! My wife works for US Bank. US Bank took some even though they didnt need it, as did some other banks. It was almost like it was understood that all banks were to take some.We are hoping that US Bank pays back that blood money soon, so that the government gets of their back. Im not quite sure why some took the TARP money when they didnt need it, but my wife seemed to understand why. Perhaps someone on here can explain.
Anyhow, they are trying to make it retroactive to bonuses paid out earlier this year/ My wife got a bonus of course, and a good part of that money is already spent. Now they are going to ask for it back!!?? What a way to stimulate the economy!! I hope this isnt a indication of what we have in store for us the next 4 years.

[pesty4077]

Originally Posted by maldorf

I was a lifetime republican until that last couple of elections. I voted all democrat this last election in the hopes of changing some of the bad things I saw happening in the US.
Today I hear that a bill has passed in the house of reps that will tax people who get bonuses if their company took TARP money. The tax is 90%, yeah 90%! My wife works for US Bank. US Bank took some even though they didnt need it, as did some other banks. It was almost like it was understood that all banks were to take some.We are hoping that US Bank pays back that blood money soon, so that the government gets of their back. Im not quite sure why some took the TARP money when they didnt need it, but my wife seemed to understand why. Perhaps someone on here can explain.
Anyhow, they are trying to make it retroactive to bonuses paid out earlier this year/ My wife got a bonus of course, and a good part of that money is already spent. Now they are going to ask for it back!!?? What a way to stimulate the economy!! I hope this isnt a indication of what we have in store for us the next 4 years.

You and alot of others feel that way. I didn't vote for him, but I was hoping for the best. After seeing that stimulus package, I am convinced he doesn't know what he is doing. The rich are getting richer at taxpayers money. Get ready for a huge tax increase in the next couple of years, to pay back on all that wasteful spending.

[xxxChrisxxx]

Originally Posted by maldorf

I was a lifetime republican until that last couple of elections. I voted all democrat this last election in the hopes of changing some of the bad things I saw happening in the US.
Today I hear that a bill has passed in the house of reps that will tax people who get bonuses if their company took TARP money. The tax is 90%, yeah 90%! My wife works for US Bank. US Bank took some even though they didnt need it, as did some other banks. It was almost like it was understood that all banks were to take some.We are hoping that US Bank pays back that blood money soon, so that the government gets of their back. Im not quite sure why some took the TARP money when they didnt need it, but my wife seemed to understand why. Perhaps someone on here can explain.
Anyhow, they are trying to make it retroactive to bonuses paid out earlier this year/ My wife got a bonus of course, and a good part of that money is already spent. Now they are going to ask for it back!!?? What a way to stimulate the economy!! I hope this isnt a indication of what we have in store for us the next 4 years.

If TARP money only went to the banks that needed it, there would have been a run on those banks. At least, that was the theory.

Getting caught up on political labels is a fool's game. The type of crony capitalism that got us into this mess doesn't care if a Democrat or a Republican is in office. Right now, the Republicans have very little power in Washington, so their strategy is to resist everything. That way, when the economy doesn't do a 180 in six months and the S&P is still below 800 two years from now, they can point fingers and say "I told you so," and pick up some seats in congress. I don't necessarily blame them—it's how the game is played—but I don't think for a second McCain had enough (if any) fairy dust to fix the mess we're in right now. People forget how bad things were for Regan's first two years in office, and he didn't inherit anywhere near the mess that the current administration did.

[OxPower]

How many more years of "BAD" gov. will people need, before they finally figure out that imperfect man/woman cannot and will not be for the general population.

It won't make a bit of difference in the world, as to electing dem or rep. They ALL are corrupt and imperfect. Imperfect humans can't bring justice to rulership.

If you are relying on imperfect people to do so, don't hold your breath!. It ain't happening!.

So what to do?



OP

[RONJON]

well apparently the pres. is suppose to help us a) get more more money and b) get guys like me who cant afford it..health insurance

If he can do that Ill be happy...so far just a bunch of talk

He sure as hell has his NCAA bracket down tho

[Pekkerwood]

Maldorf: The bonus tax will be for people with over $250k income in its current state.

[DaRooster]

It took Bush 8 years to screw things up... its going to take longer than 50+ days to fix things...give the man a chance.

[DaRooster]

Originally Posted by OxPower

How many more years of "BAD" gov. will people need, before they finally figure out that imperfect man/woman cannot and will not be for the general population.

It won't make a bit of difference in the world, as to electing dem or rep. They ALL are corrupt and imperfect. Imperfect humans can't bring justice to rulership.

If you are relying on imperfect people to do so, don't hold your breath!. It ain't happening!.

So what to do?



OP

So what do you suggest? we just sit down and give up till Jesus decides to show up..

[maldorf]

Originally Posted by xxxChrisxxx

If TARP money only went to the banks that needed it, there would have been a run on those banks. At least, that was the theory.

Getting caught up on political labels is a fool's game. The type of crony capitalism that got us into this mess doesn't care if a Democrat or a Republican is in office. Right now, the Republicans have very little power in Washington, so their strategy is to resist everything. That way, when the economy doesn't do a 180 in six months and the S&P is still below 800 two years from now, they can point fingers and say "I told you so," and pick up some seats in congress. I don't necessarily blame them—it's how the game is played—but I don't think for a second McCain had enough (if any) fairy dust to fix the mess we're in right now. People forget how bad things were for Regan's first two years in office, and he didn't inherit anywhere near the mess that the current administration did.

YOu made an excellent point, and the reason you meniton for all banks taking the money is what I think my wife told me. Thats the reasoning they used. Might be a good chance now that banks that dont need the money give it back I hope, to preserve their earnings. If they dont do that they can kiss the bonus goodbye. 90% tax is insane, pure socialism in my mind.

[maldorf]

Originally Posted by Pekkerwood

Maldorf: The bonus tax will be for people with over $250k income in its current state.

Yeah, that wont affect us unless I go out and get a job. Right now I am a stay at home dad, but if I go to work it will put us over that limit. I was planning on going back to work this spring. Makes me want to just stay at home and not work , losing almost all of her bonus would negate most of my earnings!
ANyone know if this crap passed the senate? Gotta find out all the particulars before I look at going back to work. I dont feel like working for nothing!

[OxPower]

Originally Posted by DaRooster

So what do you suggest? we just sit down and give up till Jesus decides to show up..

I wish I knew the answer my bro. However, if you do believe in what the Bible says, then yes, it does guarantee relief.

What gets me is, we have 4,500 years of written history, roughly, highlighting world govs. and their methods of rulership. Yet, out of all that time not ONE has succeeded in bringing relief to mankind in general. Those are some shotie odds my bro. I hope the Bible is right, cause it sho doesn't look like man's methods are working/will work.



OP

[xxxChrisxxx]

Originally Posted by maldorf

90% tax is insane, pure socialism in my mind.

Top income bracket in the 50's and 60's was 91% and those people didn't work for a company that was saved from bankruptcy with taxpayer dollars (the 90% tax would only apply to companies that took TARP money and once they give the money back, the normal tax schedule would apply).

I get the feeling that some members of congress are trying to make this as painful as possible for Wall St. I think they want the pain and humiliation to leave a lasting impression, so once we pull out of this mess, business leaders will chose to be more prudent and make decisions that have a long term positive effect, not just generate short term profits with huge bonuses.

[maldorf]

Originally Posted by xxxChrisxxx

Top income bracket in the 50's and 60's was 91% and those people didn't work for a company that was saved from bankruptcy with taxpayer dollars (the 90% tax would only apply to companies that took TARP money and once they give the money back, the normal tax schedule would apply).

I get the feeling that some members of congress are trying to make this as painful as possible for Wall St. I think they want the pain and humiliation to leave a lasting impression, so once we pull out of this mess, business leaders will chose to be more prudent and make decisions that have a long term positive effect, not just generate short term profits with huge bonuses.

The thing is, the action of a minority of people is going to affect a much larger number because of how this tarp money was handed out. People like my wife had nothing to do with the way the economy took this downturn. Why should she be punished for the actions of others?

[abolish the weak]

We are all getting fucked one way or the other in the long run. Big deal, a stimulus package!! Lets go into debt a little more to help a country who relies solely on Wall St. for its economic stability rather than its own industrialization and self reliance. You cant just pull jobs out of your ass and put America to work, its a plan for failure. And guess what? All the idiots who think he is a Godsend will be singing a diff tune when taxes on EVERYTHING go up!! It's nothing but funny money, we'll save you money or give you more back here, but ur getting fucked there.

[OxPower]

Originally Posted by abolish the weak

All the idiots who think he is a Godsend.

Anyone see the "Special Olympics" remark. That might be the start of reality!.




OP

[maldorf]

Originally Posted by abolish the weak

We are all getting fucked one way or the other in the long run. Big deal, a stimulus package!! Lets go into debt a little more to help a country who relies solely on Wall St. for its economic stability rather than its own industrialization and self reliance. You cant just pull jobs out of your ass and put America to work, its a plan for failure. And guess what? All the idiots who think he is a Godsend will be singing a diff tune when taxes on EVERYTHING go up!! It's nothing but funny money, we'll save you money or give you more back here, but ur getting fucked there.

Latest thing I heard was a tax of energy. All businesses, including the power companies will have to purchase so many units of energy before the beginning of the year and if they run out later on they will have to buy more. If some are left over they can sell them to others. Problem is, the power companies will just go to the state public utilility commisions and get permission to tax consumers to pay for this. In the end it is the average citizen who is going to be paying higher prices for everything from heating/cooling the home to putting gas in the car.

[Pekkerwood]

Look at the stock runup yesterday. We announce we will spend another trillion to buy "toxic" assets, and the market takes this as a plus and runs up. That is like taking a "convenience" check from your credit card for $50,000, depositing it in your bank account, going online to check you balance, and upon seeing the $50k calling up your wife and going woohoo! lets all go out to dinner. Amazing. No fundementals changed, other than for the worse.

[ironwill]

Originally Posted by OxPower

How many more years of "BAD" gov. will people need, before they finally figure out that imperfect man/woman cannot and will not be for the general population.

It won't make a bit of difference in the world, as to electing dem or rep. They ALL are corrupt and imperfect. Imperfect humans can't bring justice to rulership.

If you are relying on imperfect people to do so, don't hold your breath!. It ain't happening!.

So what to do?



OP

1 word....
Arnold......

[Bio]

Originally Posted by xxxChrisxxx

If TARP money only went to the banks that needed it, there would have been a run on those banks. At least, that was the theory.

Getting caught up on political labels is a fool's game. The type of crony capitalism that got us into this mess doesn't care if a Democrat or a Republican is in office. Right now, the Republicans have very little power in Washington, so their strategy is to resist everything. That way, when the economy doesn't do a 180 in six months and the S&P is still below 800 two years from now, they can point fingers and say "I told you so," and pick up some seats in congress. I don't necessarily blame them—it's how the game is played—but I don't think for a second McCain had enough (if any) fairy dust to fix the mess we're in right now. People forget how bad things were for Regan's first two years in office, and he didn't inherit anywhere near the mess that the current administration did.

Couldn't have put it better myself!

[Dad]

Originally Posted by Pekkerwood

Look at the stock runup yesterday. We announce we will spend another trillion to buy "toxic" assets, and the market takes this as a plus and runs up. That is like taking a "convenience" check from your credit card for $50,000, depositing it in your bank account, going online to check you balance, and upon seeing the $50k calling up your wife and going woohoo! lets all go out to dinner. Amazing. No fundementals changed, other than for the worse.

Agreed! Watching/trading the market now is almost amusing. I can't see the future any better than anyone else, but at least know and admit this unlike so-called policy makers.

The last few days ahs looked a little toppy, but I guess we'll see...the market moves on the hopes, fears, dreams, and wishful thinking of humanity, not facts.