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Socialism cannot compete!
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Humbug!!! Credit markets are dying for good reason -- we never should have taken on so much credit. Neither consumers, nor business. We will all be better off after learning to live *without* credit. And that is the MAJOR mistake of the bailout plan: yes it's also a travesty that we are putting it on the backs of the taxpayer...but the main flaw is its core goal: to grease and reprime the credit markets. Why does it make sense to play the shell game and resituate banks for more lending, when it is precisely TOO MUCH debt that is the problem??
Oct 07 13:31 pm
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All Comments by Socialism cannot compete! »Why You Should Keep an Eye on the Credit Markets [View article]
We heard the fear-inducing from the federal government (almost every branch and office) about how vital it was to pass "the plan" so that main street businesses could get the credit flowing again that they needed for day-to-day operations! What? That says to me that many businesses are on life-support!! If they are dependent on credit markets to fund day-to-day operations, as opposed to longer-term debt for expansion, etc., they were operationally unsound BEFORE this mess went down!
In other words...quit propping up failures!! We need to MASSIVELY reduce overall debt, not shift it and reload for more lending!! This means: we need to cut government to the CORE and have DRASTIC tax cuts, the like of which have NEVER been seen, since the American Revolution!! The real problem is hyper-taxation, and the economic overhead that creates -- that is the real barrier to growth and to clawing our way out of this hole...because it is exactly the hole of not having disposable income to buy things (including homes) outright...caused by paying 40%+ to the Feds alone, followed by state, local, property taxes, plus vehicle reg, etc., etc., etc. There's NO WAY to live debt-free unless you manage to bust way out of the middle class, or have never made it that far, and you live on the entitlements.
It's simply gotta stop. Flat tax, never to exceed 10% (that is a tithe after all...and why should "Caesar" get more than God?). The time is NOW!! Say NO at the polls to socialist, big-government candidates!! Email and call your Congressmen and Senators and DEMAND drastic cuts to government and your TAXES. Demand your FREEDOM and MONEY back!!!