Get out your checkbook....please.
MGLICKER
Posts: 7,995 ✭✭✭
The US Government just sold their last shares of General Motors and lost $10,000,000,000 on the "investment".
My eggnog groggy and sleep deprived brain figures that works out to about $30 per American citizen (not including our undocumented guests), or about $100 per actual taxpayer.
A pittance of course to the free spending administration, but I think that it important that each taxpayer write a check for this amount. Each tax return should have a line that adds $100 for each filer wealthy enough to reach a tax bracket. And I would have the IRS demand a separate payment for this amount.
In fact, for those that receive gov't assistance, $100 should come out of their next check or food stamp card as well.
I want America to know that this stuff is not free. When political hacks toss around money like confetti there is a price to pay. It may be higher taxes down the line, but more likely a mind numbing, nation crumbling inflation rate that will remind historians of post WWI Germany.
Hang on to your precious metals!
My eggnog groggy and sleep deprived brain figures that works out to about $30 per American citizen (not including our undocumented guests), or about $100 per actual taxpayer.
A pittance of course to the free spending administration, but I think that it important that each taxpayer write a check for this amount. Each tax return should have a line that adds $100 for each filer wealthy enough to reach a tax bracket. And I would have the IRS demand a separate payment for this amount.
In fact, for those that receive gov't assistance, $100 should come out of their next check or food stamp card as well.
I want America to know that this stuff is not free. When political hacks toss around money like confetti there is a price to pay. It may be higher taxes down the line, but more likely a mind numbing, nation crumbling inflation rate that will remind historians of post WWI Germany.
Hang on to your precious metals!
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Comments
<< <i>The US Government just sold their last shares of General Motors and lost $10,000,000,000 on the "investment".
My eggnog groggy and sleep deprived brain figures that works out to about $30 per American citizen (not including our undocumented guests), or about $100 per actual taxpayer.
A pittance of course to the free spending administration, but I think that it important that each taxpayer write a check for this amount. Each tax return should have a line that adds $100 for each filer wealthy enough to reach a tax bracket. And I would have the IRS demand a separate payment for this amount.
In fact, for those that receive gov't assistance, $100 should come out of their next check or food stamp card as well.
I want America to know that this stuff is not free. When political hacks toss around money like confetti there is a price to pay. It may be higher taxes down the line, but more likely a mind numbing, nation crumbling inflation rate that will remind historians of post WWI Germany.
Hang on to your precious metals! >>
You forgot to mention that the repayment of the TARP $ so far has generated a $10 billion surplus, which btw includes the GM sale. Does that mean we are all getting a $100 tax credit?
<< <i>
<< <i>The US Government just sold their last shares of General Motors and lost $10,000,000,000 on the "investment".
My eggnog groggy and sleep deprived brain figures that works out to about $30 per American citizen (not including our undocumented guests), or about $100 per actual taxpayer.
A pittance of course to the free spending administration, but I think that it important that each taxpayer write a check for this amount. Each tax return should have a line that adds $100 for each filer wealthy enough to reach a tax bracket. And I would have the IRS demand a separate payment for this amount.
In fact, for those that receive gov't assistance, $100 should come out of their next check or food stamp card as well.
I want America to know that this stuff is not free. When political hacks toss around money like confetti there is a price to pay. It may be higher taxes down the line, but more likely a mind numbing, nation crumbling inflation rate that will remind historians of post WWI Germany.
Hang on to your precious metals! >>
You forgot to mention that the repayment of the TARP $ so far has generated a $10 billion surplus, which btw includes the GM sale. Does that mean we are all getting a $100 tax credit? >>
So the TARP profit is about 4 days worth of QE?
"How many times can a man turn his head and pretend he just doesn’t see?” - Bob Dylan
<< <i>You forgot to mention that the repayment of the TARP $ so far has generated a $10 billion surplus, which btw includes the GM sale. Does that mean we are all getting a $100 tax credit? >>
Oh yes, the bailouts have been a windfall for the US government. Is there not a lost opportunity cost on all that free money? I a cannot borrow bucket loads of money at 25 basis points, can you?
Successful BST deals with mustangt and jesbroken. Now EVERYTHING is for sale.
<< <i>Since GM is making money now why don't they have to pay it back?? Oh how silly of me.
Guess in a way they are by subsidizing Tesla by purchasing ZEV credits.
If Henry Ford were a young man today, he would most likely go in to his father-in-laws dry goods business.
<< <i> ... A pittance of course to the free spending administration ... >>
They're ALL free spending administrations, some more than others. The last non free spending administration was Calvin Coolidge.
<< <i>
<< <i> ... A pittance of course to the free spending administration ... >>
They're ALL free spending administrations, some more than others. The last non free spending administration was Calvin Coolidge. >>
Fair point. I have found the recent Bush/Obama bailouts to be particularly egregious.
<< <i>I'm "seeing" reading some new posters to this blog. Welcome! Remember this is a Precious Metal site. So, to keep it "legal", Bought an ounce of silver today. And I'll never buy a GM product. >>
Thank you for the tip. PM prices are greatly affected by the government's debasement of the currency. In this case the Fiat currency is really Chevrolet currency.
I will not buy a GM or Chrysler either. Chrysler is an easy decision as I never liked those old boats.
The FED "covered" the world's bad credit default swaps and mortgaged back security derivatives back in 2008-2009. Hundreds to thousands of entities got in on that grab bag. The notional amount was around $35 TRILL.
No matter how you slice it, the FOMC forked over $1 to $3 $TRILLION to cover the losers and keep the banking sector afloat. That's real money covered by the US Taxpayers. The TARP "surplus" is only there to appease J6P
and to whitewash what the real score is. The public is never going to be allowed to see accurate accounting of the financial crisis....especially since the bigger crisis is yet to come.