The answer to the ailing economy - IN HERE!
#1
12-10-2008, 11:14 PM
The answer to the ailing economy - IN HERE!
There words are 100% original:
Take some time and read this. Then, if you like, spread it! It has been sent to Obama's camp as well as some of the media outlets, but has yet to get any play. I think this is the most logical plan for fixing this country's ailing economy. These plans could be put into place immediately. Let's get people back to work and felling optimistic.
This entire financial meltdown started with the mortgage situation and it needs to end there. I place the blame squarely on Bill Clinton, Congress, greedy banks, and greedy consumers. We are now all in the mess together, and we need a way out.
Here is my plan:
A – FIX the stupid "Mark to Market" accounting requirements ASAP. Banks are getting killed on mortgages primarily because of stupid accounting rules. This concept needs to go away. As it stands, any stimulus that banks get will just force them to fix their books, something that they would not have to go is Mark to Market is cancelled.
B – Aid the auto-industry. Yes, I would help them out, but only after they go bankrupt first and only after they completely restructure. We can’t afford to give them money only to then never get paid back because they go bankrupt anyway.
The Big 3 are getting killed not because they make crappy cars, but because of Organized Labor. The auto makers are forced to make production decisions NOT based on consumer demand, but because of labor contracts. The unions prevent LEAN manufacturing concepts, so they need to be broken. No car should be built w/o a buyer. We need to stop the practice of building unsold cars that need to then be financed to sit on a lot, discounted and sold to a customer who really does not want it in the first place. THIS is why the auto makers can’t win.
Many of the US cars ARE in top demand. Demand for the Ford Focus, Buick Enclave, and even Caddy are UP big time. The Enclave is seeing sales 90% higher then last year. Buick can't make enough, because the the unions have forced the manufacturers to build too many cars that people don't want. VW is building a multi-billion $ plant in the us right now. Imagine that?
C – Develop a stimulus for the tax payers. Lowering interest rates WONT DO JACK to fix this crisis! Why, because people will still not get access to the money. A great interest rate is worthless if you owe $250K and your house is only worth $200k. In fact, banks are requiring a 20% equity position and 800 credit scores to qualify for anything.
We need to get the money to the people and do it NOW before it is even more too late. Any money going to the banks will only end up fixing their balance sheets (remember the mark to market comments above?) Yes....we need to help the banks and the auto industry, but we need to do it by helping the very people that need to spend the money.
- The Fed needs to issue a certificate to each tax payer. The certificates would be valid for a specific period of time....perhaps 5 or 10 years. This is similar to what the Fed does with VA loans.
- This certificate would entitle the holder to a 5 point mortgage discount rate on any mortgage...current or future. It could be exercised NOW or at a later date as determined by the expiration period. Even if the home is sold, the discount is still valid on the next mortgage.
- The holder could exercise the certificate anytime between now or up to the expiration date. The discount would be valid for ONLY a certain period of time and could rollback through the years. I would recommend a 10 year period. So, over the 10 years, the 5 point discount might be reduced by a 1/2 each year until it returns to zero.
- Each certificate would have a maximum value as set by the program. I would recommend $100,000. This means a married couple would get $200,000 if combined. If a married borrower has a $400,000 loan now at 7%, they would pay 2% on the first $200,000 and then continue to pay 7% on the remaining $200,000.
- The rate decrease would be subsidized by the Federal government and lenders would pay their mortgages to the banks as they always have been. The fed is willing to loan money right now at 1% or even .5% anyway, so the actual cost of the program should be essentially zero! So, rather then loaning money to the banks at this discounted rate, so the banks can simply loan to mortgage holders at a higher rate, the money gets right to the people and would not require a re-finance. Or even worse, the banks may end up otherwise just keeping the money.
- This would place about $400 to $600 per month into the hands of the consumer for a typical mortgage and stop a high percentage of the current foreclosures except in extreme cases where people have simply lost their jobs. However, if we can stop the downward home value spiral, people will end up back to work anyway.
Doing this will put money into the hands of people that need to spend it. While the banks may hate this at first, they will love the fact that foreclosures will stop. Besides, most banks don’t hold the debt anyway. This will also stimulate the housing market by allowing people to buy houses....especially first-time buyers and those you have already lost their homes....it gets them back into the market. Also, everyone is treated fairly.
In addition to perhaps not costing any money to subsidize, tax revenue would actually increase to the federal government because a lower mortgage rate would result in a reduced tax deduction at the end of the year. I really think something like this could be implemented right way and would have an immediate impact.
Blake
Take some time and read this. Then, if you like, spread it! It has been sent to Obama's camp as well as some of the media outlets, but has yet to get any play. I think this is the most logical plan for fixing this country's ailing economy. These plans could be put into place immediately. Let's get people back to work and felling optimistic.
This entire financial meltdown started with the mortgage situation and it needs to end there. I place the blame squarely on Bill Clinton, Congress, greedy banks, and greedy consumers. We are now all in the mess together, and we need a way out.
Here is my plan:
A – FIX the stupid "Mark to Market" accounting requirements ASAP. Banks are getting killed on mortgages primarily because of stupid accounting rules. This concept needs to go away. As it stands, any stimulus that banks get will just force them to fix their books, something that they would not have to go is Mark to Market is cancelled.
B – Aid the auto-industry. Yes, I would help them out, but only after they go bankrupt first and only after they completely restructure. We can’t afford to give them money only to then never get paid back because they go bankrupt anyway.
The Big 3 are getting killed not because they make crappy cars, but because of Organized Labor. The auto makers are forced to make production decisions NOT based on consumer demand, but because of labor contracts. The unions prevent LEAN manufacturing concepts, so they need to be broken. No car should be built w/o a buyer. We need to stop the practice of building unsold cars that need to then be financed to sit on a lot, discounted and sold to a customer who really does not want it in the first place. THIS is why the auto makers can’t win.
Many of the US cars ARE in top demand. Demand for the Ford Focus, Buick Enclave, and even Caddy are UP big time. The Enclave is seeing sales 90% higher then last year. Buick can't make enough, because the the unions have forced the manufacturers to build too many cars that people don't want. VW is building a multi-billion $ plant in the us right now. Imagine that?
C – Develop a stimulus for the tax payers. Lowering interest rates WONT DO JACK to fix this crisis! Why, because people will still not get access to the money. A great interest rate is worthless if you owe $250K and your house is only worth $200k. In fact, banks are requiring a 20% equity position and 800 credit scores to qualify for anything.
We need to get the money to the people and do it NOW before it is even more too late. Any money going to the banks will only end up fixing their balance sheets (remember the mark to market comments above?) Yes....we need to help the banks and the auto industry, but we need to do it by helping the very people that need to spend the money.
- The Fed needs to issue a certificate to each tax payer. The certificates would be valid for a specific period of time....perhaps 5 or 10 years. This is similar to what the Fed does with VA loans.
- This certificate would entitle the holder to a 5 point mortgage discount rate on any mortgage...current or future. It could be exercised NOW or at a later date as determined by the expiration period. Even if the home is sold, the discount is still valid on the next mortgage.
- The holder could exercise the certificate anytime between now or up to the expiration date. The discount would be valid for ONLY a certain period of time and could rollback through the years. I would recommend a 10 year period. So, over the 10 years, the 5 point discount might be reduced by a 1/2 each year until it returns to zero.
- Each certificate would have a maximum value as set by the program. I would recommend $100,000. This means a married couple would get $200,000 if combined. If a married borrower has a $400,000 loan now at 7%, they would pay 2% on the first $200,000 and then continue to pay 7% on the remaining $200,000.
- The rate decrease would be subsidized by the Federal government and lenders would pay their mortgages to the banks as they always have been. The fed is willing to loan money right now at 1% or even .5% anyway, so the actual cost of the program should be essentially zero! So, rather then loaning money to the banks at this discounted rate, so the banks can simply loan to mortgage holders at a higher rate, the money gets right to the people and would not require a re-finance. Or even worse, the banks may end up otherwise just keeping the money.
- This would place about $400 to $600 per month into the hands of the consumer for a typical mortgage and stop a high percentage of the current foreclosures except in extreme cases where people have simply lost their jobs. However, if we can stop the downward home value spiral, people will end up back to work anyway.
Doing this will put money into the hands of people that need to spend it. While the banks may hate this at first, they will love the fact that foreclosures will stop. Besides, most banks don’t hold the debt anyway. This will also stimulate the housing market by allowing people to buy houses....especially first-time buyers and those you have already lost their homes....it gets them back into the market. Also, everyone is treated fairly.
In addition to perhaps not costing any money to subsidize, tax revenue would actually increase to the federal government because a lower mortgage rate would result in a reduced tax deduction at the end of the year. I really think something like this could be implemented right way and would have an immediate impact.
Blake
#2
12-10-2008, 11:51 PM
I never realized this, but union workers for the automotive industry make on average of 70 bucks an hour, Maybe more. Geez, anyone who is trainable enough can do this type work. It aint rocket science. I myself, am a highley trained factory worker making just over 20 bucks an hour. And I feel priveliged to make that much. And Union retirees make 95% if their pay After they retire w/ full benefits. gaadam. I'm just hoping my SS check will cover my *** when I do retire. If they paid me 70 bucks an hour after i do retire i wouldn't need a SS check.. I wouldn't even need to spend 20 bucks a week on the lottery..
#3
12-11-2008, 01:43 PM
Union workers don't make 70 bucks an hour. Those numbers have all of the retirees and their pensions and health care added in. In all seriousness they really only make 40 bucks or less, which i still agree with you i major cash with pensions and everything after you retire.
I like this plan a lot. Most people don't want to help the auto industry AT ALL, but you however stated to let them restructure and then help out which is very true. However, I'm not too sure on what you said about LEAN. I don't believe it has anything to do with Unions, the reason Ford can't build the hybrids like they want to is because China is the one who has the patents for the batteries. The companies are just corrupt in themselves, they know that we're not in the dire need like Europe and other foreign countries are for these high gas mileage cars so they don't try to develop anything. They're so linked to Big Oil that they don't want to make fuel-efficient vehicles like the Fiesta or the VW Golf Mark VI over here. For example, my gas cap on my moms Fusion say BP fuels recommended, and you can't tell me that there isn't some dirty handshakes going on there.
I like this plan a lot. Most people don't want to help the auto industry AT ALL, but you however stated to let them restructure and then help out which is very true. However, I'm not too sure on what you said about LEAN. I don't believe it has anything to do with Unions, the reason Ford can't build the hybrids like they want to is because China is the one who has the patents for the batteries. The companies are just corrupt in themselves, they know that we're not in the dire need like Europe and other foreign countries are for these high gas mileage cars so they don't try to develop anything. They're so linked to Big Oil that they don't want to make fuel-efficient vehicles like the Fiesta or the VW Golf Mark VI over here. For example, my gas cap on my moms Fusion say BP fuels recommended, and you can't tell me that there isn't some dirty handshakes going on there.
#4
12-11-2008, 02:00 PM
Sometimes i feel like we are trying to re-invent the wheel with some of these discussions im involved in with senior enlisted leadership.LEAN would be bad for unions because that means job cuts and it also means that the money that is saved from job cuts will be made up by all of the 6-S that will be done to improve "flow"
i could go on but i am just taking a quick break....stupid final tomorrow
Last edited by stanger00; 12-11-2008 at 02:03 PM.
#7
12-11-2008, 03:51 PM
You got it
But remember, one day I will come ask you for a favor, and i expect you do it.
thats how i roll.
But remember, one day I will come ask you for a favor, and i expect you do it.
thats how i roll.
Last edited by JackThe Ripper; 12-11-2008 at 04:07 PM.
#8
12-11-2008, 04:56 PM
Here's the problem: the government's checking account is $-10 trillion. Even if the government makes money on loans it would give to everyone, how are there going to provide the loans when they're beyond broke now? There is just no more money, period. And if we want to get out of this problem, the government has to balance its budget and get rid of its debt. Otherwise, if things get worse, our government will be paralyzed since it will have no cash.
The simplest, easiest, and most effective way to help the economy right now is w/ the FairTax. It will do so by:
1. Bringing off-shore bank accounts on shore again, bailing out the banks better than what the Feds did.
2. Will enable our companies to export w/o a tax imbedded, a 22% imbedded tax, compliments of our current system.
3. Will eliminate corporate/income/payroll/etc. taxes. This will cause a rush of companies to set-up shop here since now, no taxes have to be paid and as a result of it, when that company exports from here, there is no tax component so prices drop. Imagine, made in China price but made in US quality.
4. Since no taxes are imbedded anymore, our automakers now become more competitive overseas.
5. Because of the way the tax works (consumption tax), it will either cause the price of goods to drop, your paycheck to increase, or a combo of both. Add this to a government check covering spending up to the poverty level and you will be able to afford more things and spend more. Or, if you hate taxes, you'll save, which is good because the banks need all the cash they can get now.
6. Companies no longer have to spend millions on gaming the system, so all the cash and effort can instead be used to concentrate on how to expand and make their products better.
7. No more filling taxes so the government can eliminate an entire department (IRS).
And of course there's more, which can be found at fairtax.org or in the FairTax books. I may sound like a spammer w/ this but after reading everything about and attending a lecture about it, I think it's retarded that we are stuck up w/ our system (which by the way, is one of the priorities in Marx's book).
As for the automakers, let them suffer. Yes, it would be bad if they tank but they need to learn to not be spoiled kids and beg for mommy to help when they screw up. They need to learn to fend for themselves. Otherwise, they are going to keep making stupid business decisions and in no time, will be begging for more cash. For some reason, in this bailout heat, we completely forgot about bankruptcy laws, which are in place for these reasons.
The simplest, easiest, and most effective way to help the economy right now is w/ the FairTax. It will do so by:
1. Bringing off-shore bank accounts on shore again, bailing out the banks better than what the Feds did.
2. Will enable our companies to export w/o a tax imbedded, a 22% imbedded tax, compliments of our current system.
3. Will eliminate corporate/income/payroll/etc. taxes. This will cause a rush of companies to set-up shop here since now, no taxes have to be paid and as a result of it, when that company exports from here, there is no tax component so prices drop. Imagine, made in China price but made in US quality.
4. Since no taxes are imbedded anymore, our automakers now become more competitive overseas.
5. Because of the way the tax works (consumption tax), it will either cause the price of goods to drop, your paycheck to increase, or a combo of both. Add this to a government check covering spending up to the poverty level and you will be able to afford more things and spend more. Or, if you hate taxes, you'll save, which is good because the banks need all the cash they can get now.
6. Companies no longer have to spend millions on gaming the system, so all the cash and effort can instead be used to concentrate on how to expand and make their products better.
7. No more filling taxes so the government can eliminate an entire department (IRS).
And of course there's more, which can be found at fairtax.org or in the FairTax books. I may sound like a spammer w/ this but after reading everything about and attending a lecture about it, I think it's retarded that we are stuck up w/ our system (which by the way, is one of the priorities in Marx's book).
As for the automakers, let them suffer. Yes, it would be bad if they tank but they need to learn to not be spoiled kids and beg for mommy to help when they screw up. They need to learn to fend for themselves. Otherwise, they are going to keep making stupid business decisions and in no time, will be begging for more cash. For some reason, in this bailout heat, we completely forgot about bankruptcy laws, which are in place for these reasons.
#10
12-12-2008, 06:02 PM
Looks good. And yes the Auto Workers Union are destroying the industry here. I'm a union member, but really see these workers as idiots. Declining a pay cut just to watch themselves lose their jobs because their plants are shutting down..briliant..
#12
12-12-2008, 07:58 PM
A couple of points......
First of all, LEAN manufacturing is a known quanity. What I mean is, it is known concept and accepted manufacturing idea. Don't think of LEAN manufacturing as cutting or reducing eventhough the term may imply that. It is really more about making improvements to work flow and maximizing profits and productivity (do some google searches on the subject).
If done right, you will have a happy, more inspired, and more productive workforce which can translate to higher wages etc...
Let's be 100% clear....organized labor HATE lean manufacturing concepts. Why? #1 - They are too stupid to understand it. #2 - Union leadership perceive this idea as resulting in them giving up control.
If done right, you will be profitable....then entire auto industry including the parts manufacturers will be profitable if they adapt LEAN.
As to the previous comments about the IRS....personally, I would eliminate the IRS. Did you know that the IRS employs 100,000 people? And, spurs and entire industry for accountants? What value do they add? NOTHING! BUT, this is not something that you can change in a few weeks. BUT, you could create the system I described above immediately and put it into place. The total cost would be virtually ZERO! It won't cost the tax payers a penny!
Lastly, George Bush is selling out! Organized labor is one of the largest special interest groups in the country. They have dumped a Billion $ into Washington. This is why Obama and Bush are both voting for this bailout.
First of all, LEAN manufacturing is a known quanity. What I mean is, it is known concept and accepted manufacturing idea. Don't think of LEAN manufacturing as cutting or reducing eventhough the term may imply that. It is really more about making improvements to work flow and maximizing profits and productivity (do some google searches on the subject).
If done right, you will have a happy, more inspired, and more productive workforce which can translate to higher wages etc...
Let's be 100% clear....organized labor HATE lean manufacturing concepts. Why? #1 - They are too stupid to understand it. #2 - Union leadership perceive this idea as resulting in them giving up control.
If done right, you will be profitable....then entire auto industry including the parts manufacturers will be profitable if they adapt LEAN.
As to the previous comments about the IRS....personally, I would eliminate the IRS. Did you know that the IRS employs 100,000 people? And, spurs and entire industry for accountants? What value do they add? NOTHING! BUT, this is not something that you can change in a few weeks. BUT, you could create the system I described above immediately and put it into place. The total cost would be virtually ZERO! It won't cost the tax payers a penny!
Lastly, George Bush is selling out! Organized labor is one of the largest special interest groups in the country. They have dumped a Billion $ into Washington. This is why Obama and Bush are both voting for this bailout.
#13
12-13-2008, 06:24 AM
A couple of points......
First of all, LEAN manufacturing is a known quanity. What I mean is, it is known concept and accepted manufacturing idea. Don't think of LEAN manufacturing as cutting or reducing eventhough the term may imply that. It is really more about making improvements to work flow and maximizing profits and productivity (do some google searches on the subject).
If done right, you will have a happy, more inspired, and more productive workforce which can translate to higher wages etc...
Let's be 100% clear....organized labor HATE lean manufacturing concepts. Why? #1 - They are too stupid to understand it. #2 - Union leadership perceive this idea as resulting in them giving up control.
If done right, you will be profitable....then entire auto industry including the parts manufacturers will be profitable if they adapt LEAN.
First of all, LEAN manufacturing is a known quanity. What I mean is, it is known concept and accepted manufacturing idea. Don't think of LEAN manufacturing as cutting or reducing eventhough the term may imply that. It is really more about making improvements to work flow and maximizing profits and productivity (do some google searches on the subject).
If done right, you will have a happy, more inspired, and more productive workforce which can translate to higher wages etc...
Let's be 100% clear....organized labor HATE lean manufacturing concepts. Why? #1 - They are too stupid to understand it. #2 - Union leadership perceive this idea as resulting in them giving up control.
If done right, you will be profitable....then entire auto industry including the parts manufacturers will be profitable if they adapt LEAN.
the air force already cut the manning at my shop by 30% in the past 2 years while we carry the same workload. so the shop i work in was in bad shape and we had a huge backlog of things waiting for an inspection. before LEAN came in and helped us manage our equipment the inspections took us 3 days to complete and another 2 days to fix underlying problems. so we cut the fat on the processes and turned our inpsection into a assembly line that ultimately save us about 2 days of work. examples of some of the things we did... broke tool boxes down made cases and had our tools for point of use instead of having to open and close drawers. we use CELL concepts so our oil cell has oil cans an arms reach away along with filters at our finger tips instead of in a storage room 100 paces away like they used to be. those are just some of the little things we did to improve our FLOW. my shop is still in the infant stages but air force is big on this and they have even named it AFSO 21 with a 2 or 3 star general running it.
one day i counted the steps i took in a typical day and made a list of things that i had to go back and forth on because i forgot something. i literally walked 4 miles in 12 hour shift so i used my data and made adjustments and lists for myself of things that may be needed for a task and i cut my walking time by 35%. this gave me more time to do actual work instead of wasting valuable time. this was all from me using LEAN and 6S tools.
one key thing i remember from lean is that what ever is not value added to the customer is WASTE. the customer doesnt care how the product is made just as long as they have it. so all my walking, oil changes and troubleshooting is something the customer doesnt care about.
i like the concept of LEAN and im glad that i was brought on board to learn these tools because i know i can use them to my advantage no matter where i go. i just hope that i can open peoples eyes to a different way of thinking when i separate from the air force and become a civilian employee again.
Last edited by stanger00; 12-13-2008 at 06:29 AM.
#14
12-13-2008, 06:41 AM
people talk like the "economy" can be manipulated by such mediocre methods. ha! you'd think the way you all talk that all the banks are just not lending money period. Well...hate to burst your bubble but they are and to joe blow like me and you, not just guys with 20% down and 800 credit. I have <700 FICO score and almost nothing down and I'm buying a house right now and I got a stinkin' low rate. There's money but you have to deserve it and you gotta be able to pay it back. There's nothing any of us can do short of letting it all happen that will change ****. Oh-bammer's tax plan will do one thing though.. fugg it up worse than it is.
#16
12-13-2008, 05:04 PM
i was being a little sarcastic with my last comment about lean.
the air force already cut the manning at my shop by 30% in the past 2 years while we carry the same workload. so the shop i work in was in bad shape and we had a huge backlog of things waiting for an inspection. before LEAN came in and helped us manage our equipment the inspections took us 3 days to complete and another 2 days to fix underlying problems. so we cut the fat on the processes and turned our inpsection into a assembly line that ultimately save us about 2 days of work. examples of some of the things we did... broke tool boxes down made cases and had our tools for point of use instead of having to open and close drawers. we use CELL concepts so our oil cell has oil cans an arms reach away along with filters at our finger tips instead of in a storage room 100 paces away like they used to be. those are just some of the little things we did to improve our FLOW. my shop is still in the infant stages but air force is big on this and they have even named it AFSO 21 with a 2 or 3 star general running it.
one day i counted the steps i took in a typical day and made a list of things that i had to go back and forth on because i forgot something. i literally walked 4 miles in 12 hour shift so i used my data and made adjustments and lists for myself of things that may be needed for a task and i cut my walking time by 35%. this gave me more time to do actual work instead of wasting valuable time. this was all from me using LEAN and 6S tools.
one key thing i remember from lean is that what ever is not value added to the customer is WASTE. the customer doesnt care how the product is made just as long as they have it. so all my walking, oil changes and troubleshooting is something the customer doesnt care about.
i like the concept of LEAN and im glad that i was brought on board to learn these tools because i know i can use them to my advantage no matter where i go. i just hope that i can open peoples eyes to a different way of thinking when i separate from the air force and become a civilian employee again.
the air force already cut the manning at my shop by 30% in the past 2 years while we carry the same workload. so the shop i work in was in bad shape and we had a huge backlog of things waiting for an inspection. before LEAN came in and helped us manage our equipment the inspections took us 3 days to complete and another 2 days to fix underlying problems. so we cut the fat on the processes and turned our inpsection into a assembly line that ultimately save us about 2 days of work. examples of some of the things we did... broke tool boxes down made cases and had our tools for point of use instead of having to open and close drawers. we use CELL concepts so our oil cell has oil cans an arms reach away along with filters at our finger tips instead of in a storage room 100 paces away like they used to be. those are just some of the little things we did to improve our FLOW. my shop is still in the infant stages but air force is big on this and they have even named it AFSO 21 with a 2 or 3 star general running it.
one day i counted the steps i took in a typical day and made a list of things that i had to go back and forth on because i forgot something. i literally walked 4 miles in 12 hour shift so i used my data and made adjustments and lists for myself of things that may be needed for a task and i cut my walking time by 35%. this gave me more time to do actual work instead of wasting valuable time. this was all from me using LEAN and 6S tools.
one key thing i remember from lean is that what ever is not value added to the customer is WASTE. the customer doesnt care how the product is made just as long as they have it. so all my walking, oil changes and troubleshooting is something the customer doesnt care about.
i like the concept of LEAN and im glad that i was brought on board to learn these tools because i know i can use them to my advantage no matter where i go. i just hope that i can open peoples eyes to a different way of thinking when i separate from the air force and become a civilian employee again.
#17
12-13-2008, 05:07 PM
people talk like the "economy" can be manipulated by such mediocre methods. ha! you'd think the way you all talk that all the banks are just not lending money period. Well...hate to burst your bubble but they are and to joe blow like me and you, not just guys with 20% down and 800 credit. I have <700 FICO score and almost nothing down and I'm buying a house right now and I got a stinkin' low rate. There's money but you have to deserve it and you gotta be able to pay it back. There's nothing any of us can do short of letting it all happen that will change ****. Oh-bammer's tax plan will do one thing though.. fugg it up worse than it is.
HOWEVER, the fact that you are buying a house does not prevent homes (including yours) from getting foreclosed on in the future. The problem is, people can't re-finance now. This is why the feds need to step in with my suggestion as it will cut your 6.5% rate to 2.5% and prevent most of the foreclosures.
#18
12-14-2008, 09:05 PM
A couple of points......
As to the previous comments about the IRS....personally, I would eliminate the IRS. Did you know that the IRS employs 100,000 people? And, spurs and entire industry for accountants? What value do they add? NOTHING! BUT, this is not something that you can change in a few weeks. BUT, you could create the system I described above immediately and put it into place. The total cost would be virtually ZERO! It won't cost the tax payers a penny!
As to the previous comments about the IRS....personally, I would eliminate the IRS. Did you know that the IRS employs 100,000 people? And, spurs and entire industry for accountants? What value do they add? NOTHING! BUT, this is not something that you can change in a few weeks. BUT, you could create the system I described above immediately and put it into place. The total cost would be virtually ZERO! It won't cost the tax payers a penny!
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