How I'd fix the economy.

[SSSnail]

Originally posted by: slag

Originally posted by: thehstrybean

Originally posted by: amdhunter

Originally posted by: mAdMaLuDaWg

Originally posted by: amdhunter

Originally posted by: Kyle
and where does the money come from? Plunging the country further in debt is not really a solution...

The government can just print all the money needed. Why should we go under debt when we have perfectly good printing presses?

And what about people like myself who have lived responsibly and saved? What do I get besides more inflation??

Good job on being responsible. Unfortunately, you being responsible doesn't help things. Helping those that caused this mess will help things.

Inflation won't take place. In fact, competition will increase because of all the people looking to spend a little bit again, lowering prices across the board.

You obviously understand...nothing.
You can't print money without causing inflation. If you print it, the value goes down. The more of something there is, the less it's worth.

Yeah, just like the nintendo wii. they keep making more.. and the value..

no, wait..

hrmmm

Are you serious?

 

[Queasy]

Originally posted by: erub

Originally posted by: JulesMaximus

Originally posted by: amdhunter
1) Wipe out everyone's Credit Card Debt -- the Government will pay it all. One time only up to $10k.

2) Bail out people with bad mortgages (by paying their debt up to that point), but they will not be allowed to keep the homes. They'd have 3 Months to save money and relocate or be forced back into their original agreements.

3) Raise Credit Ratings for everyone by 100 points, original credit scale remains the same.

4) Give everyone a $5000 rebate good only towards the purchase of an American Made Automobile.

5) For those people who are still messed up after all this help; ship them to Mexico.

What do you guys think?

You realize that would add $45 trillion to the national debt?

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..

There are approximately 122 million taxpayers in the United States (we would want to restrict this to taxpayers only, right?).

So, that would be 122 million * $5,000 = $610 billion

 

[Amused]

Originally posted by: JMapleton

Originally posted by: Amused
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.

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.

Cutting corporate taxes and capital gains taxes are NOT handouts. Who the hell do you think pays those taxes anyhow? The CEOs? The board members? No, the consumers do because companies pass the cost of those taxes on through the prices of their goods and services.

The US has one of the highest corporate tax rates in the world. This makes our products less competitive on the world market AND makes goods and services more expensive, thus HURTING the poorest among us.

Cut the cost to do business, and you cut the cost to buy goods. It all comes back to increased commerce AND increased wealth in the US as our goods sell better overseas.

Simply giving consumers money will not work. They will blow it and not create jobs or wealth. A recession is only overcome by investments by the private sector. The New Deal taught us that government spending programs and bottom up AND top down bailouts are an abject failure.

You encourage commerce by not punishing commerce. You encourage business by not TAKING from it. There is a difference between taxes, and handouts. Not taxing someone is NOT a handout. "Earned income" tax handouts ARE handouts.

 

[Bignate603]

Originally posted by: amdhunter

Originally posted by: rbV5

Good job on being responsible. Unfortunately, you being responsible doesn't help things

Responsible people are the only ones keeping this country afloat...and were getting tired of the rest of you chumps fvcking everything up.

EXACTLY! Think about it. The chumps will NO LONGER BE IN CHUMP POSITION after my plan. No chumps = no fvcking everything up.

No, once they get bailed out they'll just run up their credit card bills again and expect another bailout.

Face it, your plan is idiotic. This is by far one of the stupidest things I have heard in quite a while.

 

[ObiDon]

Originally posted by: Amused
Cutting corporate taxes and capital gains taxes are NOT handouts. Who the hell do you think pays those taxes anyhow? The CEOs? The board members? No, the consumers do because companies pass the cost of those taxes on through the prices of their goods and services.

unfortunately, cutting corporate taxes probably wouldn't result in lower prices of goods. the CEOs would just see it as extra profit and pocket the difference. :brokenheart:

 

[91TTZ]

Originally posted by: amdhunter

Originally posted by: Kyle
and where does the money come from? Plunging the country further in debt is not really a solution...

The government can just print all the money needed. Why should we go under debt when we have perfectly good printing presses?

Hey, using that logic we should just print 500 trillion dollars and declare ourselves RICH, BIATCH!

 

[Bignate603]

Originally posted by: amdhunter
1) Education should be free. I'd have the government eat all school debts.

2) Renegotiation would be fine. Under my plan, their credit rating would be 100 points higher, allowing them to pay less interest.

3) The new credit rating would allow them to take on loans with less interest. Trust me, banks and auto dealers would be salivating at their scores.

4) I guess a provision could be added to use the $5000 for repairs also. This would keep the mechanics working also.

5) Yeah.

1) Education should NOT be free. People should have to scrimp and sacrifice to get it. If you just give it away for free people that don't really want to work at it will go for higher education, waste a few years without really learning anything, waste a bunch of money, and then end up leaving without a degree. Making people pay their own way is a good way to insure that only the people that value it will get it. If you think people won't abuse a completely free higher education system you're completely naive.

2) Renegotiation is a decent idea, but it has to be done carefully. Your idea of changing everyone's credit ratings will not work. Period. A bank getting some sort of deal to take on mortgages in foreclosure with government backing to absorb some of the risk would be better.

3) Credit ratings are a reflection of risk for a loan. If you just change everyone's credit score it does not change the amount of risk for each person. The banks will just change their rates to reflect that.

4) Giving people $5000 to spend on American cars is stupid. People will do it to take advantage of it but end up in more debt because $5000 doesn't cover a car. It would be much cheaper to give the automakers the loans they want and make them follow government guidelines until they pay it back.

 

[thehstrybean]

Originally posted by: SSSnail

Originally posted by: slag

Originally posted by: thehstrybean

Originally posted by: amdhunter

Originally posted by: mAdMaLuDaWg

Originally posted by: amdhunter

Originally posted by: Kyle
and where does the money come from? Plunging the country further in debt is not really a solution...

The government can just print all the money needed. Why should we go under debt when we have perfectly good printing presses?

And what about people like myself who have lived responsibly and saved? What do I get besides more inflation??

Good job on being responsible. Unfortunately, you being responsible doesn't help things. Helping those that caused this mess will help things.

Inflation won't take place. In fact, competition will increase because of all the people looking to spend a little bit again, lowering prices across the board.

You obviously understand...nothing.
You can't print money without causing inflation. If you print it, the value goes down. The more of something there is, the less it's worth.

Yeah, just like the nintendo wii. they keep making more.. and the value..

no, wait..

hrmmm

Are you serious?

Trying to argue with AMDHunter is like arguing with Jesse Jackson

Yeah, I said it...

 

[thehstrybean]

Originally posted by: Bignate603

Originally posted by: amdhunter
1) Education should be free. I'd have the government eat all school debts.

2) Renegotiation would be fine. Under my plan, their credit rating would be 100 points higher, allowing them to pay less interest.

3) The new credit rating would allow them to take on loans with less interest. Trust me, banks and auto dealers would be salivating at their scores.

4) I guess a provision could be added to use the $5000 for repairs also. This would keep the mechanics working also.

5) Yeah.

1) Education should NOT be free. People should have to scrimp and sacrifice to get it. If you just give it away for free people that don't really want to work at it will go for higher education, waste a few years without really learning anything, waste a bunch of money, and then end up leaving without a degree. Making people pay their own way is a good way to insure that only the people that value it will get it. If you think people won't abuse a completely free higher education system you're completely naive.

2) Renegotiation is a decent idea, but it has to be done carefully. Your idea of changing everyone's credit ratings will not work. Period. A bank getting some sort of deal to take on mortgages in foreclosure with government backing to absorb some of the risk would be better.

3) Credit ratings are a reflection of risk for a loan. If you just change everyone's credit score it does not change the amount of risk for each person. The banks will just change their rates to reflect that.

4) Giving people $5000 to spend on American cars is stupid. People will do it to take advantage of it but end up in more debt because $5000 doesn't cover a car. It would be much cheaper to give the automakers the loans they want and make them follow government guidelines until they pay it back.

Education. EXACTLY!

I seriously heard the best health insurance plan ever. From a HS student:

The gov't sets the limit of how much health insurance everyone should have. Everyone then gets a health-IRA (a tax-free box that can ONLY be used for health costs). A worker and their boss both contribute 7% of said person's income until they hit the limit, then the worker can contribute whatever they want. The cool thing? You can pass it on, so say that I'm healthy and don't need to go to the doctor. I can pass it to my kids and they have a leg to start on. This means that you're not paying for uber-insurance when you only get colds. You pay for what you need, and you have a box that you can take that costs out of.

And it provides incentive. The harder you work, the more you get put into your health-IRA...

 

[ConstipatedVigilante]

Originally posted by: thehstrybean

Originally posted by: Bignate603

Originally posted by: amdhunter
1) Education should be free. I'd have the government eat all school debts.

2) Renegotiation would be fine. Under my plan, their credit rating would be 100 points higher, allowing them to pay less interest.

3) The new credit rating would allow them to take on loans with less interest. Trust me, banks and auto dealers would be salivating at their scores.

4) I guess a provision could be added to use the $5000 for repairs also. This would keep the mechanics working also.

5) Yeah.

1) Education should NOT be free. People should have to scrimp and sacrifice to get it. If you just give it away for free people that don't really want to work at it will go for higher education, waste a few years without really learning anything, waste a bunch of money, and then end up leaving without a degree. Making people pay their own way is a good way to insure that only the people that value it will get it. If you think people won't abuse a completely free higher education system you're completely naive.

2) Renegotiation is a decent idea, but it has to be done carefully. Your idea of changing everyone's credit ratings will not work. Period. A bank getting some sort of deal to take on mortgages in foreclosure with government backing to absorb some of the risk would be better.

3) Credit ratings are a reflection of risk for a loan. If you just change everyone's credit score it does not change the amount of risk for each person. The banks will just change their rates to reflect that.

4) Giving people $5000 to spend on American cars is stupid. People will do it to take advantage of it but end up in more debt because $5000 doesn't cover a car. It would be much cheaper to give the automakers the loans they want and make them follow government guidelines until they pay it back.

Education. EXACTLY!

I seriously heard the best health insurance plan ever. From a HS student:

The gov't sets the limit of how much health insurance everyone should have. Everyone then gets a health-IRA (a tax-free box that can ONLY be used for health costs). A worker and their boss both contribute 7% of said person's income until they hit the limit, then the worker can contribute whatever they want. The cool thing? You can pass it on, so say that I'm healthy and don't need to go to the doctor. I can pass it to my kids and they have a leg to start on. This means that you're not paying for uber-insurance when you only get colds. You pay for what you need, and you have a box that you can take that costs out of.

And it provides incentive. The harder you work, the more you get put into your health-IRA...

Whoa! This sounds a lot like savings! But who does that anymore?...

The problem is that everyone says, "The government should pay for this, that, and my house." But that doesn't work. It just plunges the nation into debt and puts us at the mercy of other countries. In addition to that, the general populace becomes dependent on handouts and expects the government (which was created in the first place to represent us in world affairs and to provide infrastructure and a military) to do everything for them.

 

[91TTZ]

This thread is stupid. It seems that people have all kinds of ideas of what the government should give them, and it all amounts to free money. That's working in the opposite direction of where we want to go.

How about the government focusing on taking in more money than it gives out? Is that really such a difficult concept? Nobody is entitled to a handout.

 

[mAdMaLuDaWg]

Originally posted by: slag

Originally posted by: thehstrybean

Originally posted by: amdhunter

Originally posted by: mAdMaLuDaWg

Originally posted by: amdhunter

Originally posted by: Kyle
and where does the money come from? Plunging the country further in debt is not really a solution...

The government can just print all the money needed. Why should we go under debt when we have perfectly good printing presses?

And what about people like myself who have lived responsibly and saved? What do I get besides more inflation??

Good job on being responsible. Unfortunately, you being responsible doesn't help things. Helping those that caused this mess will help things.

Inflation won't take place. In fact, competition will increase because of all the people looking to spend a little bit again, lowering prices across the board.

You obviously understand...nothing.
You can't print money without causing inflation. If you print it, the value goes down. The more of something there is, the less it's worth.

Yeah, just like the nintendo wii. they keep making more.. and the value..

no, wait..

hrmmm

Wow, possibly the dumbest thing I've ever heard in my life.

 

[IHateMyJob2004]

I prefer the LOANS that are being handed out right now over giving money away without hte need for repayment. Seriously, you people don't watch Fox news here. I thought you were smarter.

 

[IHateMyJob2004]

Originally posted by: Amused

Originally posted by: JMapleton

Originally posted by: Amused
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.

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.

Cutting corporate taxes and capital gains taxes are NOT handouts. Who the hell do you think pays those taxes anyhow? The CEOs? The board members? No, the consumers do because companies pass the cost of those taxes on through the prices of their goods and services.

The US has one of the highest corporate tax rates in the world. This makes our products less competitive on the world market AND makes goods and services more expensive, thus HURTING the poorest among us.

Cut the cost to do business, and you cut the cost to buy goods. It all comes back to increased commerce AND increased wealth in the US as our goods sell better overseas.

Simply giving consumers money will not work. They will blow it and not create jobs or wealth. A recession is only overcome by investments by the private sector. The New Deal taught us that government spending programs and bottom up AND top down bailouts are an abject failure.

You encourage commerce by not punishing commerce. You encourage business by not TAKING from it. There is a difference between taxes, and handouts. Not taxing someone is NOT a handout. "Earned income" tax handouts ARE handouts.

Umm, the US dollar was a strong currency. You see, the issue is the value of hte US dollar in CHina cersus the US.

 

[ConstipatedVigilante]

Originally posted by: IHateMyJob2004
I prefer the LOANS that are being handed out right now over giving money away without hte need for repayment. Seriously, you people don't watch Fox news here. I thought you were smarter.

The reason why we're in this mess is because nobody repaid their loans.

 

[Knight7]

Originally posted by: 91TTZ
This thread is stupid. It seems that people have all kinds of ideas of what the government should give them, and it all amounts to free money. That's working in the opposite direction of where we want to go.

How about the government focusing on taking in more money than it gives out? Is that really such a difficult concept? Nobody is entitled to a handout.

how is that free money retarded? so its not ok for US to get free money but its ok for big private companies to get bailed out with our money?.... shi1

 

[PieIsAwesome]

Originally posted by: SSSnail

Originally posted by: slag

Originally posted by: thehstrybean

Originally posted by: amdhunter

Originally posted by: mAdMaLuDaWg

Originally posted by: amdhunter

Originally posted by: Kyle
and where does the money come from? Plunging the country further in debt is not really a solution...

The government can just print all the money needed. Why should we go under debt when we have perfectly good printing presses?

And what about people like myself who have lived responsibly and saved? What do I get besides more inflation??

Good job on being responsible. Unfortunately, you being responsible doesn't help things. Helping those that caused this mess will help things.

Inflation won't take place. In fact, competition will increase because of all the people looking to spend a little bit again, lowering prices across the board.

You obviously understand...nothing.
You can't print money without causing inflation. If you print it, the value goes down. The more of something there is, the less it's worth.

Yeah, just like the nintendo wii. they keep making more.. and the value..

no, wait..

hrmmm

Are you serious?

I think he's onto something.

 

[SampSon]

This is retarded. I hope you're not an economic major.

 

[darkswordsman17]

Originally posted by: PieIsAwesome

I think he's on something.

Fixed.

 

[TruePaige]

Still better than this "trickle down" economics crap.

 

[JS80]

The retardation of this thread is astounding.

 

[Argo]

I am literrally speachless.

 

[Juked07]

This thread was shens right?

 

[ConstipatedVigilante]

Originally posted by: Juked07
This thread was shens right?

amdhunter is always shens.

 

[OverVolt]

Originally posted by: ConstipatedVigilante

Originally posted by: IHateMyJob2004
I prefer the LOANS that are being handed out right now over giving money away without hte need for repayment. Seriously, you people don't watch Fox news here. I thought you were smarter.

The reason why we're in this mess is because nobody repaid their loans.

You could go one further and say nobody repaid their loans because the money to repay them didn't exist. Pretty much all people would have paid them back, had the money been available.

I would imagine this is a problem when the money lent out is just numbers in a computer hedged a good 9:1 or more to real money. You can only owe n% interest on money that never existed for so long until there's not enough money in the economy on a macro scale to pay it back.

Say the banks have on loan $100trillion, and $108trillion is due thanks to interest. More loans need to be lent between the time the first loans begin to expire, or else the money to pay them back literally does not exist.

You can point fingers at the banks, or you can point fingers at the debtor. It's neither entities fault. The system itself is flawed. A decrease in the rate of lending is very, very bad.

There are only two solutions:

1. A new banking system

2. A huge infusion of credit which will only fix the problem temporarily until the next near-collapse, and then we'll need an even bigger infusion of credit.