W's Proposed Tax Rebate - Page 2 - PeachParts Mercedes-Benz Forum

Medmech · #16 01-22-2008, 06:49 PM

Quote:

Originally Posted by PaulC

Tax rebate plans presented during an election year? Shocker. I guess the gov has no unfunded or underfunded liabilities at this time...

Yip, its going to be hard for a congressman up for re-election this year to vote this puppy down, they all high smokin day Keynes'.

t walgamuth · #17 01-22-2008, 06:53 PM

Quote:

Originally Posted by Botnst

If Congress & the president ("gov" hereafter) could only refrain from meddling we'd all be better off. They caused the freaking real estate mess by making below-market loans. There's a reason nobody would loan money below market rates and with no collateral -- real businesses don't like to risk their own real money. So the gov says, "We must help everybody to have a house". Well guess what, cupcake, some people can't afford a house and/or have demonstrated an inability to manage debt properly. So the gov gives them money. Great freaking idea.

Let the market run the market. let the gov do what it is supposed to do: maintain the country's defense, regulate trade and provide for the general welfare. And leave me the f**k alone and for goodness sakes, don't give money to special interest groups.

I fail to understand how the "congress and the president" caused the subprime crash.

Unless you are talking about the de regulation of the lending industry and the massive cutting of expenditures for enforcment of federal banking guidelines.

Tom W

TwitchKitty · #18 01-22-2008, 07:03 PM

I smell a conspiracy theory in here, HA.

Medmech · #19 01-22-2008, 07:04 PM

Quote:

Originally Posted by t walgamuth

I fail to understand how the "congress and the president" caused the subprime crash.

Unless you are talking about the de regulation of the lending industry and the massive cutting of expenditures for enforcment of federal banking guidelines.

Tom W

I agree with you Tom

, the sub-prime crash is solely in the hands of the private sector. The sub-prime lenders pushed hard to sell sub-prime loans...so hard that many of the prime lenders were pushing prime loans with PMI into sub-prime so borrowers could save a few dollars by not paying PMI.

BUT

Mark my words; sub-prime will be back, it won't be like it was but in stable markets its already starting to emerge again.

Botnst · #20 01-22-2008, 07:06 PM

Quote:

Originally Posted by t walgamuth

I fail to understand how the "congress and the president" caused the subprime crash.

Unless you are talking about the de regulation of the lending industry and the massive cutting of expenditures for enforcment of federal banking guidelines.

Tom W

Here's a portion of an abstract concerning subprime loans. It was another gov do-gooder project.

Community Reinvestment Act ("CRA") as a positive mandate for banks and thrifts to do good by increasing investment in low- and moderate-income ("LMI") neighborhoods. When Congress enacted CRA, it was inconceivable that LMI neighborhoods might eventually receive too much credit in the form of abusive mortgages. However, by the late 1990s, predatory mortgages- exploitative high-cost loans to gullible borrowers-were ravaging the inner cities.

Medmech · #21 01-22-2008, 07:25 PM

Quote:

Originally Posted by Botnst

Here's a portion of an abstract concerning subprime loans. It was another gov do-gooder project.

Community Reinvestment Act ("CRA") as a positive mandate for banks and thrifts to do good by increasing investment in low- and moderate-income ("LMI") neighborhoods. When Congress enacted CRA, it was inconceivable that LMI neighborhoods might eventually receive too much credit in the form of abusive mortgages. However, by the late 1990s, predatory mortgages- exploitative high-cost loans to gullible borrowers-were ravaging the inner cities.

The CRA's are typically fixed rate, below market rate and helped curb borrowers from sub-prime and other predatory acts for low income borrowers. They did receive more credit due to the decreased cost and interest rates but the house of cards fell when surrounding home values took a dump.

davidmash · #22 01-22-2008, 08:39 PM

Quote:

Originally Posted by A264172

This stimulus is just the kind of SOP that precedes the recurring Johnson administration this country has been subject to since the turn of the last century at least.

Once again, this check you will be getting is not your money.
They already spent your money.
This is your kids money.
So go ahead, live it up.

I have no kids ...... free money for me ..... yea ....

OH, that was bad of me to think such thoughts.... bad David Bad David....

Wow $1,600.00 that's like 6,400 quarters or 16,000 dimes or 320,000 nickels. Did I mention I have no kids? Finally it pays off. This makes up for the $300 rebates you breeders have been getting. Woooooooo Hoooooooooooooo. Hey wait just cotton picking minute. You breeders are going to get the $1,600 plus the $300 a kid. Man, the non-breeders get screwed again.

WVOtoGO · #23 01-22-2008, 08:47 PM

Quote:

Originally Posted by davidmash

16,000 dimes or 320,000 nickels.

What? Obviously, you're too excided to do math.

I'll take the nickels.

You can keep the dimes.

davidmash · #24 01-22-2008, 09:29 PM

Quote:

Originally Posted by WVOtoGO

What? Obviously, you're too excided to do math.

I'll take the nickels.

You can keep the dimes.

So I was off by 288,000. Sue me

Yes I was excited.

Eskimo · #25 01-22-2008, 09:56 PM

Quote:

Originally Posted by davidmash

So I was off by 288,000. Sue me

Yes I was excited.

Relax, David. Just take a deep breath...

...and visit the Duggar Family web site.

tankdriver · #26 01-22-2008, 10:23 PM

I love the part in the WH spiel about not cutting spending. And the 'avg of the last 40 years' bit.

A264172 · #27 01-22-2008, 10:49 PM

Quote:

Originally Posted by davidmash

I have no kids ...... free money for me ..... yea ....

OH, that was bad of me to think such thoughts.... bad David Bad David....

Wow $1,600.00 that's like 6,400 quarters or 16,000 dimes or 320,000 nickels. Did I mention I have no kids? Finally it pays off. This makes up for the $300 rebates you breeders have been getting. Woooooooo Hoooooooooooooo. Hey wait just cotton picking minute. You breeders are going to get the $1,600 plus the $300 a kid. Man, the non-breeders get screwed again.

What makes me scratch my head is: the kids who earned 5,000 bucks and paid 50 bucks in taxes are going to get the 800+ a 400 EI credit to blow on I-pod's made in china.

So the government thinks that, because of the sub prime crisis, every american should be forced to take out an 800 + dollar loan... wippiee the worlds comming to an end... everybody get's a bottle of champaign on uncle Sam! Then uncle Sam slips out of the back of the plane wearing a (golden) parachute as he sees the bill being prepared.

Botnst · #28 01-22-2008, 11:00 PM

"The government thinks ...".

Hahaha!

A264172 · #29 01-22-2008, 11:09 PM

Quote:

Originally Posted by Botnst

"The government thinks ...".

Hahaha!

I shoulda dropped the h and added an s.

catmandoo62 · #30 01-22-2008, 11:44 PM

Quote:

Originally Posted by davidmash

I have no kids ...... free money for me ..... yea ....

OH, that was bad of me to think such thoughts.... bad David Bad David....

Wow $1,600.00 that's like 6,400 quarters or 16,000 dimes or 320,000 nickels. Did I mention I have no kids? Finally it pays off. This makes up for the $300 rebates you breeders have been getting. Woooooooo Hoooooooooooooo. Hey wait just cotton picking minute. You breeders are going to get the $1,600 plus the $300 a kid. Man, the non-breeders get screwed again.

i ain't got no kids either so show me the money!!!