The common sense fix

Discussion in 'Current Events' started by brett636, Sep 30, 2008.

  1. brett636

    brett636 Well-Known Member

    http://www.daveramsey.com/media/pdf/the_common_sense_fix.pdf

    I've never supported this $700 billion bailout plan, and this plan sounds more feasible and is much cheaper. If you believe in this please send it to your congressmen/women to help get the ball rolling before we end up with $700 billion in more debt.

     
  2. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    There is one side of this that has not really been discussed, at least not that I have seen.

    What about those of us who take care of their business? Pay our bills on time, don't over extend ourselves, have a fixed rate mortgage and pay extra on it each month, have adequate insurance, set aside money for our retirement while still ensuring that we leave enough so that we can enjoy ourselves today, pay off credit cards on a monthly basis.

    brett, I really like the suggestions that you gave. Each of them should be fairly easy to implement and I like $50B much more than $700B.

    Thank you for your efforts in researching the facts for this thread. Dave.
     
  3. scratch

    scratch Least Best Moderator Staff Member

    This is a great plan, and I am a Dave Ramsey fan. But it makes too much sense and those crooks in office won't be able to play their class and race scare politics. This current problem is a combination of stupid people running things in Washington and greedy people. I wish Dave's plan could happen, we don't need to bail out Wall Street for making bad loans. They will just come back for more money. Some of these people need to be in jail, and I mean politicians and CEOs. JMHO.
     
  4. av8torntn

    av8torntn Well-Known Member

    "III. CAPITAL GAINS TAX
    a. Remove the capital gains tax completely."

    That would be great. Don't think we'll ever see it but it sure would be nice.
     
  5. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    We may actually see it on a short-term basis but not completely. There is talk of suspending it for a few years to give investors incentive to buy some of these distressed mortgages and then hopefully resell them for a profit and not have to pay capital gains on said profit.