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corysub -> RE: Think A 3% Tax Hike is Scary..Try this (10/19/2008 9:13:53 PM)
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I doubt the fact Bush's tax cuts will not be extended over a year from now is having much effect on the 2008 economy. People are concerned about next week not about over a year from now.
You state that the Democrats keep pushing certain legislation but the Democrats provide their own defense to that charge. Democrats have been so inept at trying to get legislation passed that they are lucky to have passed legislation authorizing issuance of their own paychecks. And Mr. Bush has demanded the socialistic legislation through his Secretary of Treasury and with backing of many republicans. To me the rest of your criticism should be directed to Bush and the republicans in the same vein that George Will says Democrats in their wildest dreams could not have imagined the scope of and the type of government the republicans have created. Bush has been the boss for 8 years with the Democrats totally inept. At least give us a year to screw things up and then blame us. I turned Democrat to assure sane individuals are appointed to the Supreme Court.
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I didn't like the bail-out of the banks for the reason you cite...it's a socialist type course of treatment. Let them all fail would be the way to go...BUT...I think Bush showed leadership, did what he had to do, and developed a program proposal that at least got the ball going, to try to stop a total freezing up in business. No bank wanted to lend to another and take the counter-party risk which was not analyzable..and still is a major risk We are not out of the woods yet, by far. We have never seen anything like the meltdown currently in place. However, I really believe if Secty of the Treasury Paulson, working with Bernake, and Congress, didn't arrive at this package we would not have a chance. The co-ordinated G-8 response was also a major plus in an attempt to bring stability back to the markets. With no other viable plan on the table, withhout this program the problems in getting credit would have grown to astronomical proportions and, who knows, today Iceland, tomorrow....shudder to think about it. I would not advise walking near tall buildings in NYC, at least for awhile.
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