T Nation

The Idiot's Cure For the Financial Crisis

http://www.daveramsey.com/common_sense_fix.txt

Some of the same things I have been saying for about a week, now.

This needs to be emailed to every congressman in DC.

It’s time to take back our money, and the power of the vote. If your representative votes for the $700B welfare plan, vote for the other guy.

This will be the first time in my life that a am fully willing to vote for a democrat.

I have become a single issue voter - and that issue is this bail out.

RJ:

This person has that straightforward approach…simple but VERY workable and common sense; much like Newt.

I wonder how common their views are?

Also; I’m with you.

From now on, if a Campaign Add says that a person voted for this package, they do not get my vote.

Period.

Mufasa

Where is the part about getting a credit card so I can buy a sweet new ride.

[quote]Mufasa wrote:
RJ:

This person has that straightforward approach…simple but VERY workable and common sense; much like Newt.

I wonder how common their views are?

Also; I’m with you.

From now on, if a Campaign Add says that a person voted for this package, they do not get my vote.

Period.

Mufasa[/quote]

I am extending this to the Presidential election as well.

I was all about McCain after the Palin selection, but I think this issue should supersede anything else I may, or may not like about McCain.

Unless he changes his tune about the bailout, I will vote 3rd party.

6% is pretty low, especially in a historical context. I got a fixed rate 16 months ago for 6.25%, which was about the best at the time. Giving them a 6% rate is too much of a reward for their bad decisions, and is still unfair to the common sense borrower. This should be more like 7-8%.

[quote]
III. CAPITAL GAINS TAX

A. Remove the capital gains tax completely. Investors will flood the real estate and stock market in search of tax-free profits, creating tremendous�??and immediate�??liquidity in the markets. Again, this costs the taxpayer nothing.[/quote]

I don’t like this. No capital gains tax would likely create too much demand for real estate, thus creating yet another bubble. I’m am very hesistant to make any drastic changes to capital gains taxes without a complete overhaul of the tax code. You are setting up an unfair playing field and creating artificial demand.

Perhaps no capital gains tax on any sub-prime mortgage backed securities purchased between certain dates would work better.

Everything else works for me.

Are you going to email this to your representative? I am. And others that aren’t mine too.

[quote]rainjack wrote:
http://www.daveramsey.com/common_sense_fix.txt

Some of the same things I have been saying for about a week, now.

This needs to be emailed to every congressman in DC.

It’s time to take back our money, and the power of the vote. If your representative votes for the $700B welfare plan, vote for the other guy.

This will be the first time in my life that a am fully willing to vote for a democrat.

I have become a single issue voter - and that issue is this bail out.

[/quote]

Ramsay was on with Cavuto today.

The reason this plan will never pass is because it features a lot less federal control and influence. They won’t stand for that even if God himself showed up in DC and declared it the divinely sanctioned answer.

I planned to vote for Bob Barr anyway but after reading the Libertarian home page I am now voting for the man and not just the party.

party.http://campaign.blog.bobbarr2008.com/2008/09/30/56/

[quote]Tiribulus wrote:
rainjack wrote:
http://www.daveramsey.com/common_sense_fix.txt

Some of the same things I have been saying for about a week, now.

This needs to be emailed to every congressman in DC.

It’s time to take back our money, and the power of the vote. If your representative votes for the $700B welfare plan, vote for the other guy.

This will be the first time in my life that a am fully willing to vote for a democrat.

I have become a single issue voter - and that issue is this bail out.

Ramsay was on with Cavuto today.

The reason this plan will never pass is because it features a lot less federal control and influence. They won’t stand for that even if God himself showed up in DC and declared it the divinely sanctioned answer.
[/quote]

Then we, as citizens, have an obligation to vote for the other guy. If your current representative will not listen to you now, he should not get a second chance to ignore you again.

The congressional servers have been down for over 24 hours due to the sheer volume of us regular guys voicing our opinions to elected officials.

I have called both of my Senators, and my Representative. One of my senator’s voicemail box was completely full.

The Sentate will vote tomorrow on the bill that was refused yesterday by the HOR (with a couple of tweaks).

Please contact your officials by any means necessary to inform you that the American people will not stand for being steamrolled.

Best of luck guys. If ever the people needed to be heard it is now. The greastest thing about your country, free represtentation.

[quote]rainjack wrote:
<<< Then we, as citizens, have an obligation to vote for the other guy. [/quote]

I emailed Knollenberg, Levin and Stabenow when this whole thing started and again yesterday, but who is the other guy?

Even most of the ones who voted against it this time did it not because they don’t want the government in the middle of it, but because they want THEIR version of it.

I doubt if there’d be anybody in most states and districts that wouldn’t vote for some version of this bailout with some tweaking.

[quote]rainjack wrote:
<<< Unless he changes his tune about the bailout, I will vote 3rd party.
[/quote]

I’m sure I don’t have to tell you that a third party vote is a vote for Obama. I know you’re pissed man, but I’m betting a year of Obama/Biden will have you wishing you’d reconsidered this.

[quote]tedro wrote:
III. CAPITAL GAINS TAX

A. Remove the capital gains tax completely. Investors will flood the real estate and stock market in search of tax-free profits, creating tremendous and immediate liquidity in the markets. Again, this costs the taxpayer nothing.

I don’t like this. No capital gains tax would likely create too much demand for real estate, thus creating yet another bubble. I’m am very hesistant to make any drastic changes to capital gains taxes without a complete overhaul of the tax code. You are setting up an unfair playing field and creating artificial demand.

Perhaps no capital gains tax on any sub-prime mortgage backed securities purchased between certain dates would work better.

Everything else works for me.[/quote]

The bubble was created by people who should not have been getting loans, getting loans for far more than they could afford.

Those days are over.

Even a temporary ban on Cap Gains will be an instant infusion of much needed cash, and any bubble created due to honest investment is much more manageable than one created with the government forcing loans, and lenders raping the customer.

[quote]Tiribulus wrote:
rainjack wrote:
<<< Unless he changes his tune about the bailout, I will vote 3rd party.

I’m sure I don’t have to tell you that a third party vote is a vote for Obama. I know you’re pissed man, but I’m betting a year of Obama/Biden will have you wishing you’d reconsidered this.[/quote]

I must hold the Presidential candidates to the same standard which I hold my elected representatives.

This may be a pretty safe position for me as I live in Texas which has not voted for a Republican since…geez…probably Jimmy Carter. No way in hell it goes for Opie this year.

[quote]Tiribulus wrote:
rainjack wrote:
<<< Then we, as citizens, have an obligation to vote for the other guy.

I emailed Knollenberg, Levin and Stabenow when this whole thing started and again yesterday, but who is the other guy?

Even most of the ones who voted against it this time did it not because they don’t want the government in the middle of it, but because they want THEIR version of it.

I doubt if there’d be anybody in most states and districts that wouldn’t vote for some version of this bailout with some tweaking. [/quote]

The other guy? Whoever is running against the incumbent who ignores your wishes.

[quote]Tiribulus wrote:
rainjack wrote:
<<< Unless he changes his tune about the bailout, I will vote 3rd party.

I’m sure I don’t have to tell you that a third party vote is a vote for Obama. I know you’re pissed man, but I’m betting a year of Obama/Biden will have you wishing you’d reconsidered this.[/quote]

Living in Illinois my vote counts for little.

I am in PA, a swing state, I cannot afford the luxury of a 3rd party vote.

[quote]Zap Branigan wrote:
I am in PA, a swing state, I cannot afford the luxury of a 3rd party vote.[/quote]

Probably not. But even so, I think real change will occur at the lower level if the House, as well as the Senate, vote this plan in.

[quote]rainjack wrote:

This may be a pretty safe position for me as I live in Texas which has not voted for a Republican since…geez…probably Jimmy Carter. No way in hell it goes for Opie this year. [/quote]

I know you meant haven’t voted for a Democrat… I have the same problem but it’s the opposite.

On the news the other night they were talking about McCain making a move in the polls in RI. They showed the stats… he’s down 45% to 31%. That’s a jump from the 45% to 25% in June.

I don’t like the “It’s a vote for the other guy” argument. You are not adding 1 to the total of Opie while taking away from McCain. You’re just taking 1 from McCain.

The equivalent to being down 1/2 a game in the standings in baseball.

http://clerk.house.gov/evs/2008/roll674.xml

There’s the list.

I’m with you on this one RJ. I already had a bunch of reasons not to vote for Steve Israel, this is just another one.