Sep 26, 2008 9:52 am US/Central
Viewer Comments On Bailout Plan: Part 3
We asked viewers what you think of the federal government's $700 billion bailout plan, for which talks broke down Thursday. Here are your responses:
I think their fighting (our goverment leaders) does not help people feel good about them in the drivers seat. When they cant even come together in a time like this it is hard for people to have the kind of confidence needed that they can get the job done. I think to show everyone that they (to understand the "crunch" every man, woman and family is feeling right now) should consider taking a pay cut (president, senate, congress, everyone). The airlines and many other buisness the government steps in to help have to give up this is the first thing they do (pay cuts). Maybe this will buy them a few days of good publicity and a little more confidence and respect to come together to find a pratical solution. --Stacy Ruckle
Whatever the top CEOs made last year, they should be forced to give it back. After that, they have to work to straighten it out. We just retired and now wonder if we will have to go back to work. Why do they keep expecting us average people to shoulder the burden? Don't they realize that if people lose their money homes, and jobs they won't be paying taxes that I'm sure will be raised? What ever happened to the concept of being proactive and not just reactive? --Chris Hanna
How does the government expext us to pay for and absorb this financal crash when most of us cant hardly aford to buy a tank of gasoline for our cars?? --Dave Harding
let me get this straight, we may have to bail out mortgage companies who reguired us to carry and pay monthly insurance (pmi) in the event we couldn't pay our mortgage. so they took our mortgage payment, our insurance payment, charged us fees and interest, then took our home. where did that money go? i hope my homeowners insurance doesn't get wind of this scam, i suffered damage from the last storm. --Joanie S.
Why is it that when individuals' finances fall apart we have to loose everything,have our credit ruined for 10 years as we get stuck with high interest rates or are not allowed credit. However these guys either get a bailout with no consequenses or they simply take their money and go home and continue to live their lives while the "underlings" are left with nothing. --Sheila Finley
AIG has a trillion dollars in assets, let the banks liquidate some of their assets to take care of this financial problem. And finally, stop the war, the cost is too great. --Nikita Young Johnson
The problem with Wall street is no income verification Home loans were put in bundles with good loans and sold in billion dollar bundles as Grade A paper. Now Wall street doesn't know how much bad paper is out there. Let you viewers know what the problem is and I will give you the answer at 10:27 A.M. central time. --Bob Talbot
I am 77 and everthing I felt was needed in this bailout deal had been included in the bill. I wrote Congress 9/20 & 9/21 by E-mail about the things needed in the Bill. Now the Ever CEO and VP is getting out with BIG BUCKS while we all go to POT. I won't forget the GOP for letting this happen. --Jay Bloom
If Congress wants to do something, an idea: 1. Eliminate ALL capital gains taxes and taxes on savings and dividends right now. Free up the capital and encourage investment. This is the kind of economic stimulus the Fair Tax would bring and if Congress is going to lose money, let them lose it with lower taxes, not with public dollar bailouts of private market mistakes. 2. Repeal Sarbanes/Oxley. It has failed. It was supposed to prevent this. It didn?t. Kill it. --Joe Calderone
I received the following in an email this afternoon... thought it was worth sharing from a common sense point of view on the current economic crisis. Too bad those running our government don't appear to have any common sense. Bailout Solution.. This will NEVER happen - makes too much sense! This guy hit it on the head !!! I?m against the $85,000,000,000.00 bailout of AIG. Instead, I?m in favor of giving $85,000,000,000 to America in a We Deserve It Dividend. To make the math simple, let?s assume there are 200,000,000 bonafide U.S. Citizens 18+. Our population is about 301,000,000 +/- counting every man, woman and child. So 200,000,000 might be a fair stab at adults 18 and up.. So divide 200 million adults 18+ into $85 billon that equals $425,000.00. My plan is to give $425,000 to every person 18+ as a We Deserve It Dividend. Of course, it would NOT be tax free. So let?s assume a tax rate of 30%. Every individual 18+ has to pay $127,500.00 in taxes. That sends $25,500,000,000 right back to Uncle Sam. But i t means that every adult 18+ has $297,500.00 in their pocket. A husband and wife has $595,000.00. What would you do with $297,500.00 to $595,000.00 in your family? Pay off your mortgage - housing crisis solved. Repay college loans - what a great boost to new grads Put away money for college ? it?ll be there Save in a bank - create money to loan to entrepreneurs. Buy a new car - create jobs Invest in the market - capital drives growth Pay for your parent?s medical insurance / health care improves Enable Deadbeat Dads to come clean or else Remember this is for every adult U S Citizen 18+ including the folks who lost their jobs at Lehman Brothers and every other company that is cutting back. And of course, for those serving in our Armed Forces. If we?re going to re-distribute wealth let?s really do it...instead of trickling out a puny $1000.00 (vote buy) economic incentive that is being proposed by one of our candidates for President . If we?re going to do an $85 billion bailout, let?s bail out every adult US Citizen 18+! As for AIG ? liquidate it. Sell off its parts. Let American General go back to being American General. Sell off the real estate. Let the private sector bargain hunters cut it up and clean it up. Here?s my rationale. We deserve it and AIG doesn?t. Sure it?s a crazy idea that can ?never work.? But can you imagine the Coast-To-Coast Block Party! How do you spell Economic Boom? I trust my fellow adult Americans to know how to use the $85 Billion We Deserve It Dividend more than I do the geniuses at AIG or in Washington DC . And remember, The Birk plan only really costs $59.5 Billion because $25.5 Billion is returned instantly in taxes to Uncle Sam. Ahhh...I feel so much better getting that off my chest. Kindest personal regards, Birk T. J. Birkenmeier, A Creative Guy & Citizen of the Republic --Tracy Patton
No the government should not bail out the "masters of the universe" that brought this on themselves. I refuse to let me tax dollars help them and then to have my taxes raised. --Diane
(© MMX, CBS Broadcasting Inc. All Rights Reserved.)
Comments