Bailout Nation

[Max]

It's seems that everyday you hear about a new bailout. The automakers need another 21 billion to get them through the next three months. A new push for 50 billion to pay down mortgages of those that purchased either more home then they could afford or are stopping paying since the value has fallen. 800 billion for the porkulous giveaway plan that just passed. Tarp 3 and soon to be son of Tarp coming down the pipe. At what point is the governement going to realize they are doing more harm then good. The reason the free market isn't working is because no one wants to invest only to be trumped by billions from tax dollars. I also blame most of what is taking place on Obama. After all it was his campaign that really made the failure of the banks into major media hype and started the scare in order to win an election, the only problem is he created the scare but doesn't know how to fix what he caused. Lord help us all, this mesia the media made is going to be the death of our nation. IMHO

[MYCAR47562]

Max I Just Heard Yesterday They Said That They Weren't Again A Second Reinvestment Act, I Truly Believe They Won't Stop I Think They Will Keep Bailing People Out Till We Are Ran Into The Ground

[The G]

It sucks !

[right$pecial]

It is so ridiculous that they almost have to be doing it on purpose. Total economic collapse=depression=martial law=dictatorship

[The G]

Some one needs to bail me out :) and no I'm not in jail :moon: :D

[TaxmanHog]

So Far I have received only one reply to my emails to my National Rep's,

Sen Kennedy, sent a boiler-plate response clearly stating that he plans to support efforts to seek additional stimulas.....no direct statement to my inquiry about the AUTO SALES TAX DEDUCTION effective date.

[MYCAR47562]

from what i have seen about the auto sales tax deduction it is only vechile's bought after 1/1/09

[Remphoto]

Today a couple of our Bank Directors and I had a 45 minute face-to-face meeting with our Congressman, a solid, conservative first-term Republican. I came away a bit dismayed at how tired and frustrated he seemed. He said that Congress is heading the wrong way down the track with no way to turn it around. He was upset about the Stimulus Bill being passed without being read and the unintended consequences that will result. We specifically discussed the auto bailout and he said that Congress will end up mandating that Detroit build cars that Americans won't buy. He mentioned the East German Trabant, which was designed within a planned economy and was perhaps the most horrible car ever built. I guess none of this should have surprised me, but hearing it firsthand is unsettling to say the least.

[MYCAR47562]

speaking of tax stuff turns out the first home credit changed with the bill instead of having to pay back the money you get the money for free but it's only on houses bought in 09 fucking bastards

[TaxmanHog]

from what i have seen about the auto sales tax deduction it is only vechile's bought after 1/1/09

No, only purchases from date of enactment 2/17/2009 to 12/31/2009.
Unless a technical correction is issued by Congress & signed by the Prez maybe in (phase-2)

[TaxmanHog]

speaking of tax stuff turns out the first home credit changed with the bill instead of having to pay back the money you get the money for free but it's only on houses bought in 09 fucking bastards

Correct, and it's available for only a portion (Majority) of the 2009 tax year.

The only consolation to those who used the prior generation of the credit, it's a interest free 15 year loan. That has some value.