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Why would anybody listen to Republicans ? The party of "No"
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<blockquote data-quote="brett636" data-source="post: 492831" data-attributes="member: 249"><p>Evidently you do not understand the "free" in "free market". The word "free" does not mean free from getting a raw deal, or free from having to pay your obligations. It means you are free to contract as necessary. I've never understood why someone would so nonchalantly sign their name on paperwork that makes them liable for tens of thousands or hundreds of thousands of dollars worth of debt. If they signed up for interest only, negative amortization, adjustable rate, or any other subprime loan and it came back to bite them then I say that's good. There is a word to describe these people, and that word is "renters". Someone who is so lacking in understanding their own finances or mortgage to not be able to pay it based on the terms of said contract were renters to begin with, and renters they should go back to being. You don't need a degree in economics to understand the terms of a mortgage, only a little due diligence in making sure you understand exactly what you are putting your name on before you sign it. </p><p> </p><p></p><p> </p><p></p><p></p><p>Do you think those people represent all wealthy individuals? What about the owner of several McDonald's franchises who puts all profit/loss on his/her own personal tax return? McDonalds is doing very well right now, but why would this franchisee take the risk of opening a new store if they don't know how much money the government will demand of their income? That is one of many ways a tax increase will cost this economy jobs. Obama's war on capitalism will only hurt us on the long run, and will prolong this recession for a long time to come.</p></blockquote><p></p>
[QUOTE="brett636, post: 492831, member: 249"] Evidently you do not understand the "free" in "free market". The word "free" does not mean free from getting a raw deal, or free from having to pay your obligations. It means you are free to contract as necessary. I've never understood why someone would so nonchalantly sign their name on paperwork that makes them liable for tens of thousands or hundreds of thousands of dollars worth of debt. If they signed up for interest only, negative amortization, adjustable rate, or any other subprime loan and it came back to bite them then I say that's good. There is a word to describe these people, and that word is "renters". Someone who is so lacking in understanding their own finances or mortgage to not be able to pay it based on the terms of said contract were renters to begin with, and renters they should go back to being. You don't need a degree in economics to understand the terms of a mortgage, only a little due diligence in making sure you understand exactly what you are putting your name on before you sign it. Do you think those people represent all wealthy individuals? What about the owner of several McDonald's franchises who puts all profit/loss on his/her own personal tax return? McDonalds is doing very well right now, but why would this franchisee take the risk of opening a new store if they don't know how much money the government will demand of their income? That is one of many ways a tax increase will cost this economy jobs. Obama's war on capitalism will only hurt us on the long run, and will prolong this recession for a long time to come. [/QUOTE]
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Why would anybody listen to Republicans ? The party of "No"
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