talkin about credit card debt. for a average person to make a 10k debt it would take a lil while. and even if they have it, mostly it was getting things they needed, no some face treatment in some Chinese Korean spa, those school loans u mentioned and the car loans would qualify u for the break that AMDHUNTER is proposing, also a car loan as long as u can prove u use that car for business, going to work or working in it, you should be able to qualify a 5000 break would drop the payments on school loans and car loans by some dollars.
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How I'd fix the economy.
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talkin about credit card debt. for a average person to make a 10k debt it would take a lil while. and even if they have it, mostly it was getting things they needed, no some face treatment in some Chinese Korean spa, those school loans u mentioned and the car loans would qualify u for the break that AMDHUNTER is proposing, also a car loan as long as u can prove u use that car for business, going to work or working in it, you should be able to qualify a 5000 break would drop the payments on school loans and car loans by some dollars.
JMapleton
Diamond Member
How to fix the economy:
Tempory adjustment in tax table.
Up to $50,000 exempt from federal income tax.
Raise taxes 10% on those making more than $100,000
I don't believe in wealth redistribution, but this would fix the economy.
You give money to people who are going to spend it (the working class).
Tempory adjustment in tax table.
Up to $50,000 exempt from federal income tax.
Raise taxes 10% on those making more than $100,000
I don't believe in wealth redistribution, but this would fix the economy.
You give money to people who are going to spend it (the working class).
home improvement? what your house was falling on top of you? or your wife just didnt like the tile on the kitchen floor? what ever reason u had you did not plan on changing jobs and having to make less money. so now wouldnt u agree that after all those years of u paying your taxes and "working hard" u deserve a at least 10k debt on the account of your choice?
Babbles
Diamond Member
One idea I would like to see is to make income earned through a severance package be tax free at the federal level or at least tax deferred.
I, along with a shit ton of other people in the country, got laid off last month. It really sucks balls to have to pay a shit ton of income tax on a severance pay. I paid nearly $4000 in taxes; that much money would be pretty damn helpful to get thru a few more months if need be. I think by not taxing, or at least deferring taxes, on severance package that may provide a sort of 'free' (it is a lost of tax revenue) and instant assistance to those that lost a job and were lucky enough to get a severance.
Also having the government subsidize or pay for COBRA could be a helpful benefit.
I, along with a shit ton of other people in the country, got laid off last month. It really sucks balls to have to pay a shit ton of income tax on a severance pay. I paid nearly $4000 in taxes; that much money would be pretty damn helpful to get thru a few more months if need be. I think by not taxing, or at least deferring taxes, on severance package that may provide a sort of 'free' (it is a lost of tax revenue) and instant assistance to those that lost a job and were lucky enough to get a severance.
Also having the government subsidize or pay for COBRA could be a helpful benefit.
darkswordsman17
Lifer
That's a valid point. However, even if you wipe that debt away, are people really in any place to afford their current situation? How long before they've got another 10k because they're not living within their means? Will they gain any incentive to save for the future?
Hell, I heard so many people say it wasn't until $4/gallon gas that they did anything about budgeting expenses or thinking about carpooling or anything to save money, and that is in a place where a car is basically a necessity (there's not a large public transportation infrastructure here and job distances can easily be 10 miles+ with a gamut of weather conditions that makes riding a bike not feasible) and should have been figured into their finances. They didn't have any budget for routine maintenance or say a random flat tire.
i think the reason why people got to were we are now is because of how things were 5-10 years back, in 2004-2005 i had a job that i was making easy 2500-3000 a week, (this is before taxes), at that point i walked to a dealer and said i want this car dont cared what it cost. just 6 months after i switched jobs beacuse that company i worked for closed down and i got stuck with a 700+ insurance payment on a car that after the first year wasnt worth what i pay. Because of that now there is no way in hell i would go on a car loan for 5-6 years, basically learn from your mistakes. thats another thing, why do i have to be stuck with a 50k loan on a car if after the first year the value goes under half of what i pay?
Amused
Elite Member
Those who fail to learn from history are doomed to repeat it.
You cannot recover from a recession or depression by printing more money (runaway inflation anyone?) giveaways, government projects, or bailouts. The only way to do it is to generate new private sector jobs. You do that by getting rid of capital gains and corporate taxes. They are, in effect, just taxes on consumers anyhow and make us less competitive on the world market.
You cannot recover from a recession or depression by printing more money (runaway inflation anyone?) giveaways, government projects, or bailouts. The only way to do it is to generate new private sector jobs. You do that by getting rid of capital gains and corporate taxes. They are, in effect, just taxes on consumers anyhow and make us less competitive on the world market.
darkswordsman17
Lifer
Because no one forced you buy the car? Why should I have to pay off your debt because you were too stupid to think about the future or bought something you couldn't actually afford (just because you were making enough to pay for it at the time does not mean you could afford it)?
JMapleton
Diamond Member
That is a huge failure in the mindset of traditional conservative voters.
You cannot go through the economic cycle backwards by giving the money to the corporations first and then hoping they will create jobs. A company will not create more jobs unless they see an increase in demand for their products, in order to do this the money needs to go to the consumer first and the the increase in demand for products will create jobs.
When given a handout, companies will not in unison go out and create jobs hoping that every other company on earth will create jobs also hoping that this will all at one indirectly create an increase in demand for their products.
That's going through the economic cycle backwards. It doesn't sound fair or nice, but if you want to stimulate the economic give low income and middle class (under $50k household income ) either tax breaks or money and they will spend it.
videogames101
Diamond Member
failure
well thats my point, no one told you to go spend money on a laptop or remodeling your house just cause your wife didnt like the kitchen tiles and cabinets you werent planning on getting fired or let go. shit just happens, and even if you can still pay your debt why not get some help from your own tax money? or you rather give it to the jews in wall street?
JulesMaximus
No Lifer
You realize that would add $45 trillion to the national debt?
darkswordsman17
Lifer
That wasn't me, and so what I said applies to that all the same. Its not my fault you didn't even think about that when thinking about the future. If you're going to own a car or house you need to take into account that there will be maintenance costs involved and so you should take that into account when figuring if you can actually afford it or not. You should always take into account what would happen if you lost your job as well when figuring your budget.
Is the racism really necessary?
300 million * $5000 = 1.5 trillion.
Another 3 trillion for his 10K debt reduction.
What about me, I don't have any debts? Can I get a 10K check? 10K prepayment towards my CCs will be ok.
Don't really need a new car, but to pocket $5K I'm sure I could buy one and resell it..
this is the true reason why you go outthere and have a lot of debt....
http://www.youtube.com/watch?v=g50vzZzAja0
http://www.youtube.com/watch?v=g50vzZzAja0
GTaudiophile
Lifer
Aren't they already doing this?
And you forgot:
6) Raise federal debt ceiling to $20 Trillion (or about 200% GDP).
And you forgot:
6) Raise federal debt ceiling to $20 Trillion (or about 200% GDP).
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