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Thread: Second stimulus

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  1. #1
    Senior Robin Hood Guy Ian Gills's Avatar
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    Default Second stimulus

    I've been giving this a lot of thought recently and I think we need another stimulus if we're gonna get the economy going again.

    I'm worried about the large number of jobless and, mostly, the increasing number of Americans who are underwater with their homes.

    So, it's time for the Feds to start spending again. But if you find that unpalatable, you're definitely not going to like how I propose they spend your tax dollars this time (not that the last stimulus cost you anything, or the wars in Iraq and Afghanistan for that matter, because all of that was borrowed).

    I think it's time Banks started to renegotiate with us the principals left on our mortgages using Government money to write off our mortgage debt.

    Here's why. If people have too much negative equity in their properties, then they are going to foreclose regardless of whether they have a job or not. Not much more than a 100k under and you're gonna be tempted to leave the key at the Bank. More foreclosures will depress property prices even further and the cycle continues, with the subsequent effects on the construction industry and everything else.

    So American taxpayers. Pay off some of my debt or I'll cost you.
    Last edited by Ian Gills; 09-03-2010 at 06:32 PM.

  2. #2
    General Engineering Contractor ballvalve's Avatar
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    This addresses several of your US beefs: Here is the Gov. spending its fake money to help homeless vets. They need not go to MINA, NEVADA any more.

    http://www.aarp.org/home-garden/hous...less-vets.html

  3. #3
    Senior Robin Hood Guy Ian Gills's Avatar
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    That's great. See, it's not rocket science to help the poor is it?

    And taxes spent now will lead to more revenues later.

  4. #4
    DIY Senior Member BobL43's Avatar
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    Quote Originally Posted by Ian Gills View Post
    That's great. See, it's not rocket science to help the poor is it?

    And taxes spent now will lead to more revenues later.
    yeah, right.

    http://www.youtube.com/watch?v=J7XA2UUpXRk
    I am definitely not a pro plumber, but I am a pro crastinator

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    DIY Senior Member LOTW's Avatar
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    I have long felt that in bankruptcy a consumer should be able to reaffirm and repay his or her mortgage at a level equal to the value of the home. That is essentially what is done for corporations in a Chapter 11 bankruptcy and I see no reason why the practice could not be extended to the consumer. If the bank forecloses, they are going to recover only the value of the property anyway. Re a stimulas package, I suggest accomplishing the same end (an increase in consumer spending) by reducing taxes and reducing the need for taxes by decreasing government employment and programs.

  6. #6
    Senior Robin Hood Guy Ian Gills's Avatar
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    The problem of reducing taxes in the hope of getting people to spend more only really works if you lower the taxes on the poor.

    The rich save their cash and do not spend it.

    So we need to lower taxes on the poor and raise them on the rich.

    And reducing government employment would just cut demand even further. We need more Washingtom jobs telling the rest of America what to do.

    Most of the Federal employees I know could teach people from the rest of America a thing or two about how to live their lives and raise their children, so I say give them a go!

    Everything should be controlled from Washington. It's nice here!
    Last edited by Ian Gills; 07-13-2011 at 09:17 AM.

  7. #7
    Moderator & Master Plumber hj's Avatar
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    quote; The rich save their cash and do not spend it.

    Not really, but they already have enough money to buy what they want, so the tax breaks DO go into the bank, but not because they are "saving it", but because the "don't need it". The bankers stole 235 billions from the economy. THen Congress gave them a 235 billion dollar bailout, which they are in the process of stealing again, so they don't want to spend "their" money bailing out the homeowners.

  8. #8
    Master Plumber master plumber mark's Avatar
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    Cool IAN is this you in the video????

    Ian , I thought you might like this video
    do you remember the first stimilus package that
    George Bush gave everyone???



    http://www.youtube.com/watch?v=FwJduPtCvSM


  9. #9
    Senior Robin Hood Guy Ian Gills's Avatar
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    Look, if the more Conservative members do not agree to an extension of the debt ceiling then there will need to be another stimulus.

    Why are Americans so reluctant to borrow?

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