Since the 1st bailout isn’t working, should the second be directed at taxpayers instead of corporations?

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Shouldn’t the next bailout bill be directed at Americans to pay off their credit debt?

From what I see, the easiest way to do it would be to direct the IRS to stop collecting income taxes from paychecks for a holiday period of 6 months to 1 year.

Then enact temporary 40% tariffs on ALL imported goods to make up some of the lost tax revenues. The rest of the lost revenue would be added to our debt, but at this point, makes little difference.

That way taxpayers are encouraged to use the tax holiday to pay down debt and stop wasting money on unnecessary consumer goods.

Paying off debt would increase the liquidity of commerical banks and as a result, should ease lending restrictions.

The last stats I saw from 2006 showed that Americans held $ 800 billion worth of credit card debt alone. That doesn’t include mortgages, loans, etc. No wonder why lending is drying up, we’ve used all the credit.
KSUCatz22: Almost every major economist acknowledges that there will be at least 2 to 3 more bailouts on the horizon. It is only a question of ‘when’ at this point.

9 Comments
  1. Reply
    little78lucky
    January 25, 2011 at 9:25 am

    there shouldn’t be a second, heck there shouldn’t have been a first

  2. Reply
    KSUCatz22
    January 25, 2011 at 9:38 am

    The 1st bailout hasn’t had a chance to work yet! Things like that don’t turn our economy around over night unfortunately.

  3. Reply
    Locke
    January 25, 2011 at 10:36 am

    Next bailout? Are you joking? I really hope you are joking. There was never any need for a bailout in the first place.

  4. Reply
    jess
    January 25, 2011 at 11:11 am

    If they are going to print a bunch of money and dump it into our economy, they should fund infrastructure, development of new energy supplies, technology. They should absolutelly not give it to the taxpayer, not because I dont think the taxpayers should have THEIR money…I say this because any money given back to the taxpayers just goes right to the shady banks, credit card companies, and for middle east oil, or chinese goods.

    Look how the tides have turned. *Gasp* guess what people, you are going to have to live with in your means. Lifes hard and unfair, might as well get used to it and stop being such sissies. I hope the next “Greatest Generation” sprouts from this debacle. Our children are really going to have to sink or swim at this point.

  5. Reply
    Javier169
    January 25, 2011 at 12:00 pm

    yes…but do they care about us poor poeple…no….rich get richer…even when they mess up! They get bailed out

  6. Reply
    Walt
    January 25, 2011 at 12:32 pm

    The next bailout should be at the voting booth when everyone who voted for this piece of crap bailout in the first place should be bailed out of office. I am in favor of bailing them out to the street. Time for the American tax payer to get his/her country back.

  7. Reply
    mark32541
    January 25, 2011 at 1:24 pm

    You know that will never happen.

    Can you imagine, Democrats actually agreeing

    That letting americans keep more of thier income and pay less tax’s.

    Would be a good thing ?

    PS: if we enacted a 40% tariff on all imported goods.

    Then what will we do, when other countries, enact a 40% tariff on our exports ?

    We export 1.2 trillion a year.

    Imagine those job loss’s.

  8. Reply
    chandlin
    January 25, 2011 at 2:14 pm

    Might as well renege on the debt and start over.Our government never seems to have a problem going back on its word.

    This is what will have to occur at some point so lets let the generations to follow deal with there problems and not the ones created before there birth. That would be the moral thing.

  9. Reply
    dartagnon p
    January 25, 2011 at 2:18 pm

    All the economists that I read say that in order to bail this thing out the USA must put up $ 7 TRILLION. We only have $ 15 trillion in the WHOLE country, economy, and banks. There is NO WAY that we can KEEP from going into a Depression. But the more we try the deeper hole we dig. The first bailout of $ 700bn will add at least 5-10 years to the Depression. Another one will guarantee the World Depression. Why are the stupid politicians adding more ignorance in the hopes that it will provide and answer.

    The Ruling Families are profiting from EVERY bailout. Their bank accounts grow bigger while each generation that follows will be born BROKE! They are turning us into a 3rd world country PEOPLE!

    Wise up! TEll them NO MORE STUPIDITY!

    The only way to do that is to write in Chuck Baldwin on your ballot. That is the ONLY way we can stop it. We’ll still have a depression but we’ll get it over a LOT quicker.

    Bush was given ORDERS To get this bailout passed. That’s why Bernanke pulled money OUT of the banks to make it seem all the more dire. We are being played like a $ 3 fiddle. Did you see Bush’s face last week when the bail-out wasn’t being bought by Congress!? He was sweating bullets. Did you see him this morning? That grin is back because he knows now that the Ruling Families at least won’t murder him and his family. No more bailouts … let Bush die!

    Write in Chuck Baldwin!

    🙂
    Peace, Love, Light!
    I AM Dartagnon

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