WWYD??? Economic Crisis???

[JoiseyMom]

There are so many threads bashing McCain/Palin and Obama/Biden. Each side says their peice and then goes ahead and attacks the other side. But, nothing gets accomplished.

What would YOU do, to solve the current economic crisis?? How would you stop the 1/3 of homes on the market being in foreclosure? How would you solve the roller coaster stock market and the lost of retiree's 401k's and kids 529 accts? How would you stop the loss of financial industry jobs, auto jobs, retail jobs, and all the jobs inbetween? How would you stop these people who are losing their jobs from losing their homes and becoming potentially homeless?? How would you stop these hugh bailout companies and companies getting billions from the good ole taxpayers from giving billions in bonuses?? How would you stop our country from going from a recession into a full blown depression??

Stop bashing...WWYD???

 

[happygirl]

I would make people accountable for there actions, instead of bailing everyone out.

 

[DawnCt1]

I would lower corporate taxes so that US corporations were not taxed at the second highest rate in the world. That would encourage growth and business here in the USA.
I would drop the capital gains tax to zero for at least one year. That would encourage private investment in companies. Investors would be willing to take a risk for tax free gains. If I raised it, it wouldn't be any higher than 10%

I would not raise taxes on any American taxpayer. I would freeze government spending, except for the essentials for one year. That includes pork barrel spending, etc.

I would NOT consider a welfare check in the form of a tax rebate to anyone who doesn't pay taxes.

 

[mamacatnv]

I don't know and honestly, I don't think either one of the candidates does either. I am surprised the American public is not more vocal in the exact questions you raise, I know DH and I discuss it at length.

I'm not sure if anyone knows how to fix this mess. Even the bailout is a crap shoot. It might work, historically actions like it have worked but is it a guarantee??? No.

My opinion is why would either one of them want to be President at this moment in time?

 

[denisenh]

end the iraq occupation

 

[DawnCt1]

end the iraq occupation

It makes absolutely NO SENSE to snatch defeat from the jaws of victory.

 

[denisenh]

It makes absolutely NO SENSE to snatch defeat from the jaws of victory.

for crying out loud, what victory?

 

[Anewman]

What would YOU do, to solve the current economic crisis??

Nothing will solve it, but IMO helping the middle class will help businesses get customers in the door while giving BIG BUSINESS a tax break will not get customers in their doors.

If business is slow, giving Walmart a $50billion tax break will not increase business so they will still not hire new employees if they have no customers. But Give that tax break to the middle class, and Walmarts business will increase and they will need to hire new employees.

How would you stop the 1/3 of homes on the market being in foreclosure?

Dont know about the 1/3 number, but I would not stop it.

I would let it play out until home prices get back down to real affordability for the middle class, it will then stop itself.

How would you solve the roller coaster stock market and the lost of retiree's 401k's and kids 529 accts?

See Answer 1, once business picks up it spreads.

How would you stop the loss of financial industry jobs, auto jobs, retail jobs, and all the jobs inbetween?

Again see Answer 1, if you give the CUSTOMER base a tax break. Businesses will NEED to hire employees to service that business.

How would you stop these people who are losing their jobs from losing their homes and becoming potentially homeless??

Answered, and there are programs in place to help those that need it.

How would you stop these hugh bailout companies and companies getting billions from the good ole taxpayers from giving billions in bonuses??

Well I feel that anytime the GOV gives money out, they should have a say... nobody is forced to take federal funds.

How would you stop our country from going from a recession into a full blown depression??

Answered.

Stop bashing...WWYD???

Just wait.

 

[JoiseyMom]

It makes absolutely NO SENSE to snatch defeat from the jaws of victory.

Well since this is off topic of my thread I will say that there is no victory. I don't know how you see victory. There will NEVER be a victory. You can't win a war against this sort of mentality. Unless you can stop all of the terrorists that want American's dead, we can never win this war. Hopefully at some point the Iraqi govt will be able to handle their "civil unrest" on their own. There are certain fights you can not win, this is one of them.

 

[Anewman]

It makes absolutely NO SENSE to snatch defeat from the jaws of victory.

We invaded Iraq, we won... I saw the banner.

Time to let them rebuild.

 

[DawnCt1]

for crying out loud, what victory?

We are winning. We have made great strides. The Iraqis are taking over large areas of their cities and their country. I know it doesn't fit the democratic template but it is a fact. And since this is not the topic, I will not further elaborate on this subject.

 

[bsnyder]

There are so many threads bashing McCain/Palin and Obama/Biden. Each side says their peice and then goes ahead and attacks the other side. But, nothing gets accomplished.

What would YOU do, to solve the current economic crisis?? How would you stop the 1/3 of homes on the market being in foreclosure? How would you solve the roller coaster stock market and the lost of retiree's 401k's and kids 529 accts? How would you stop the loss of financial industry jobs, auto jobs, retail jobs, and all the jobs inbetween? How would you stop these people who are losing their jobs from losing their homes and becoming potentially homeless?? How would you stop these hugh bailout companies and companies getting billions from the good ole taxpayers from giving billions in bonuses?? How would you stop our country from going from a recession into a full blown depression??

Stop bashing...WWYD???

Sounds like you want complete certainty and zero risk tolerance. If that's the case, free-market capitalism isn't the system for you.

 

[dvcgirl]

It makes absolutely NO SENSE to snatch defeat from the jaws of victory.

The jaws of victory? You're kidding right?

 

[MrsPete]

I don't think there is a good choice on how to get out of this situation. We as a society have been overspending for too many years, and we have to get ourselves back to a normal spending level.

An analogy: We as a country have been overeating for years, and suddenly we've come to the realization that we're FAT and we've endangered our health. As much as we might want to think that we can take a couple walks and start eating a salad with our dinner, that isn't enough. Yes, those things'll get us on the right track . . . but they won't remove the fat that we've built up around our collective middle for years. To lose that weight, we'd have to get on a serious work-out program and keep it going religiously for some time. It's going to take dedication and sacrafice. Our society's financial issues are similar: We're going to have to cut back, and it's going to take time to get back to a healthy financial state. It's going to take dedication and sacrafice.

And, by the way, I question the idea that one house out of three is being foreclosed upon. I personally don't know a single person who's in that situation, nor have I seen any signs in the neighborhoods near me.

 

[JoiseyMom]

Sounds like you want complete certainty and zero risk tolerance. If that's the case, free-market capitalism isn't the system for you.

No, I want the current climate we are in over. Is it so wrong to want people to have jobs. For companies not to lay them off and not to need gov't bailout and for people to be able to stay in their homes? I have been around the block a few times..and this is just not the sort of world I want to see for my kids. We have how many thousands of kids who are set to graduate in May from college and will get what jobs?? I see it getting worse not better.

And how is wanting to fix what is obviously currently not working mean I don't want capitalism?? Are you saying that what we having isn't broken or that to stop it the only way is to stop capitalism??

 

[denisenh]

We are winning. We have made great strides. The Iraqis are taking over large areas of their cities and their country. I know it doesn't fit the democratic template but it is a fact. And since this is not the topic, I will not further elaborate on this subject.

there is no victory. there may be an illusion of victory (in the minds of some "special" people) but for the purpose of attaining any of the "goals" set by the current administration there is no victory. its all been a death and money pit. face it.

 

[Anewman]

And, by the way, I question the idea that one house out of three is being foreclosed upon.

I also questioned it, but it was qualified by saying 1 in 3 "on the market". I cant verify that but it is not the same as saying 1 in 3 of ALL HOMES.

 

[JoiseyMom]

I don't think there is a good choice on how to get out of this situation. We as a society have been overspending for too many years, and we have to get ourselves back to a normal spending level.

An analogy: We as a country have been overeating for years, and suddenly we've come to the realization that we're FAT and we've endangered our health. As much as we might want to think that we can take a couple walks and start eating a salad with our dinner, that isn't enough. Yes, those things'll get us on the right track . . . but they won't remove the fat that we've built up around our collective middle for years. To lose that weight, we'd have to get on a serious work-out program and keep it going religiously for some time. It's going to take dedication and sacrafice. Our society's financial issues are similar: We're going to have to cut back, and it's going to take time to get back to a healthy financial state. It's going to take dedication and sacrafice.

And, by the way, I question the idea that one house out of three is being foreclosed upon. I personally don't know a single person who's in that situation, nor have I seen any signs in the neighborhoods near me.

Every national news program I watched yesterday said that 1/3 of all homes on the market are currently in foreclosure.

http://abcnews.go.com/Business/Economy/story?id=6132368
This article says 25 - 30% of houses.

 

[MrsPete]

Nothing will solve it, but IMO helping the middle class will help businesses get customers in the door while giving BIG BUSINESS a tax break will not get customers in their doors.

Nope. Customers have been over-spending for years. We need to encourage individuals to EARN and SAVE rather than to spend their money on more junk from Walmart that largely just wastes our natural resources and drives credit card debt higher. At the same time, we need to encourage businesses to STAY IN AMERICA and produce goods to sell to OTHER COUNTRIES.

We can encourage individuals to save through tax-sheltered 401K (and similar) programs.

We can encourage companies to stay in America (and give jobs to Americans) by offering them tax breaks. At the same time, taxing other country's imports will raise the prices of imported goods and encourage Americans to buy from Americans. If they choose to go to other countries to get cheap labor, they have to pay the imported goods taxes just like anyone else.

 

[EthansMom]

I would work on creating jobs in the U.S. I would do this by investing in infrastructure and renewal/revitalization projects, discouraging (through tariffs, taxes, incentives, etc...) companies from outsourcing skilled labor, and creating opportunities for unemployed and underemployed to get a "hand up instead of a hand out".

I would allow homeowners to refi their home at a reasonable rate (say 6%) for a longer-than-usual term (say up to 50 years) at no cost. I would not write-down any principal amounts. I would also make a dissincentive to abandon a house merely because it has lost value. Yes, we'd still have some foreclosures, but fewer and the market would equalize out over time.

I wouldn't worry too much about the stock market. In time, it will go up. Unfortunately, investors who don't have the wherewithal to wait were probably invested in the wrong financial products.

I would encourage more oversight of the financial industry and encourage fiscal responsibility on a corporate, individual and government basis.

The reality is that our current economic issues are the fault of our government (who actually encouraged Freddie and Fannie to give out subprime mortgages and didn't do enough to oversee Hedge Funds and other risky financial investments); our corporations (who've made a habit of overpaying management for subpar performance); our banks (who've lent money to folks who couldn't possibly repay the money); and our citizens (who've leveraged themselves to the hilt in order to have a bigger house, nicer car and new electronic gadgets than the folks down the street). And we're all going to have a long ride back to normalcy.