A interesting take on the 700 billion..

[crockett]

Lets hope what this guys says will ring true..

http://online.wsj.com/article/SB122230704116773989.html

if it works out like he figures this 700 billion dollar investment in the banking industry could turn in to 1 trillion to 2 trillion dollar profit and pay off our national debt. likely the only way it will even get paid off, so we can only hope they can pull a rabbit out of the hat in 10 years.

[Charon]

And the next WSJ article is full of doom and gloom, followed by one that is neutral.

What's scary is that none of these guys have a clue.

[Dos Equis]

House Representative Peter DeFazio of Oregon proposed an excellent solution during today's barter session.

A $0.25 tax on every trade made, DJ or NASDAQ. There are 4 billion stock transactions every DAY in this country. For those of you that trade - what do you pay? Scottrade costs $7 per trade. Do you care if that becomes $7.25? I don't.

That would raise $240B per year, back into the Federal Government. It would take 4-8 years to pay off this bailout, given $700B is all they want. Which they don't. It is going to be $2T when this is over. TVOM and Inflation just swagged there.

It would discourage short selling (which they had to ban this week), it would discourage day trading.

And yes, like a good Liberal, I think a tax is a good thing.

[Elfie]

House Representative Peter DeFazio of Oregon proposed an excellent solution during today's barter session.

A $0.25 tax on every trade made, DJ or NASDAQ. There are 4 billion stock transactions every DAY in this country. For those of you that trade - what do you pay? Scottrade costs $7 per trade. Do you care if that becomes $7.25? I don't.

That would raise $240B per year, back into the Federal Government. It would take 4-8 years to pay off this bailout, given $700B is all they want. Which they don't. It is going to be $2T when this is over. TVOM and Inflation just swagged there.

It would discourage short selling (which they had to ban this week), it would discourage day trading.

And yes, like a good Liberal, I think a tax is a good thing.

That isn't a bad idea at all imo. It gives the bailout monies as a loan to be repaid. And the loan would be repaid in less than 10 years. Of course, I'm not dumb enough to think the tax will ever go away so after that 4 - 8 years everything else is interest.

[alskahawk]

Lets hope what this guys says will ring true..

http://online.wsj.com/article/SB122230704116773989.html

if it works out like he figures this 700 billion dollar investment in the banking industry could turn in to 1 trillion to 2 trillion dollar profit and pay off our national debt. likely the only way it will even get paid off, so we can only hope they can pull a rabbit out of the hat in 10 years.

 I think it was David Gerkin(R-Reagan WH, CNN pundit) said; Quoting President Reagan; The problem with the trickle down theory isn't that it doesn't work, it's that you can't stop Congress from spending.
 Do you really think that Congress will use our money responsibly? Yes there could be a profit from this as there have been with some other bailouts. Most of the bailouts don't produce the 2 to 3 times profit your speculating with. And Congress has never used it to pay any part of our debt. My wife has more self control at the mall with a fist full of twenties than Congress with our money.

[Elfie]

Very interesting article Crockett. You know that Congress won't spend any profits on eliminating the national debt though, at least not the Congress we have known in the past. There would have to be some serious change in the thinking of Congress to get them to spend the profits in a responsible way.

[bongaroo]

Very interesting article Crockett. You know that Congress won't spend any profits on eliminating the national debt though, at least not the Congress we have known in the past. There would have to be some serious change in the thinking of Congress to get them to spend the profits in a responsible way.

need people to vote for fiscal conservatives.  not the neo-con ones.

[sluggish]

House Representative Peter DeFazio of Oregon proposed an excellent solution during today's barter session.

A $0.25 tax on every trade made, DJ or NASDAQ. There are 4 billion stock transactions every DAY in this country. For those of you that trade - what do you pay? Scottrade costs $7 per trade. Do you care if that becomes $7.25? I don't.

That would raise $240B per year, back into the Federal Government. It would take 4-8 years to pay off this bailout, given $700B is all they want. Which they don't. It is going to be $2T when this is over. TVOM and Inflation just swagged there.

It would discourage short selling (which they had to ban this week), it would discourage day trading.

I'd agree to that.

[crockett]

House Representative Peter DeFazio of Oregon proposed an excellent solution during today's barter session.

A $0.25 tax on every trade made, DJ or NASDAQ. There are 4 billion stock transactions every DAY in this country. For those of you that trade - what do you pay? Scottrade costs $7 per trade. Do you care if that becomes $7.25? I don't.

That would raise $240B per year, back into the Federal Government. It would take 4-8 years to pay off this bailout, given $700B is all they want. Which they don't. It is going to be $2T when this is over. TVOM and Inflation just swagged there.

It would discourage short selling (which they had to ban this week), it would discourage day trading.

And yes, like a good Liberal, I think a tax is a good thing.

Well I'm all for making a industry pay for it's own mistake, but in all honestly it wasn't the traders (ie investors) who caused this mess. It was the banking and loan industry. Why should stock owners have to pay the bill for the banking system? The stock market trades much more than the banking stocks. So why unfairly force a group that had nothing to do with this mess to cover the bill?

That's like charging 25 cents tax at McDonalds for every big mac they sell and using it to pay off the national debit. The average stockholder has been left holding the bag in this case why screw them over even more?

[bongaroo]

I like the big mac tax to pay off the national debt.   

I bet we could get the stats on how long it would take.  Be scary if it were 15 or less years.   

[Elfie]

I like the big mac tax to pay off the national debt.   

I bet we could get the stats on how long it would take.  Be scary if it were 15 or less years.   

What about a nickle on every fast food sandwich sold in this country? I'm guessing 2 years to pay off that debt w/o looking anything up.

[Yeager]

I dont know if I have posted this before, or if anyone else has....I heard a comment from a talking head that declared 750 billion to be equal to 35% of the income tax collected from 150 million taxpayers in 2007.

Just to put some perspective on it, if true.  I dont know but I guess it sounds reasonable enough 

[lasersailor184]

Notice how everyone is so eager to tax OTHER PEOPLE'S MONEY!





What a bunch of flaming communists.

[Elfie]

laser a bailout is looking like it will probably happen in some form or another at this point. We also have to pay for that bailout somehow and it is most likely to come out of the taxpayers pocket.

[Hap]

And the next WSJ article is full of doom and gloom, followed by one that is neutral.

What's scary is that none of these guys have a clue.

Well said.  Loan them money at a high rate.  No bonuses, dividends payable until loan paid in full.  A no brainer.