[Vision2020] rebate checks

[g. crabtree]

I am, for the most part, not a fan of corporate bail outs either. But since your question is how is bailing out the banking industry any less "welfare" than giving poor people money to spend on food a reply is in order. The banking industry pays huge amounts in taxes and employees many, many people. Poor people pay no taxes and employee no one. The government in its bail out of selected banks is returning a small percent of the tax money it received to the organization that has paid in significant amounts in the past and will pay more in the future. Poor people not so much. Banks kept open will continue to provide jobs. Poor people subsidized will only create more poor people. An argument can also be made that a portion of the banks problems were brought on by the government forcing them to extend credit to a much riskier pool of borrowers in the name of "fairness." The government, for all its faults, does not create poor people. It might encourage them to stay that way but it generally doesn't put them there in the first place.

g
----- Original Message ----- 
From: "Andreas Schou" <ophite at gmail.com>
To: "g. crabtree" <jampot at roadrunner.com>
Cc: "lfalen" <lfalen at turbonet.com>; <godshatter at yahoo.com>; "Vision2020" <vision2020 at moscow.com>; "Tom Hansen" <thansen at moscow.com>
Sent: Thursday, May 08, 2008 11:52 PM
Subject: Re: [Vision2020] rebate checks


> Gary --
> 
> Explain to me how the government bailout of the banking industry is
> any less "welfare" than giving poor people money to spend on food?
> 
> -- ACS
> 
> On Thu, May 8, 2008 at 5:00 PM, g. crabtree <jampot at roadrunner.com> wrote:
>> Far be it from me to speak for Roger but, in the case of checks being cut
>> for people who haven't paid any taxes, don't call it a rebate as the subject
>> line implies. Call it what it is. Wealth redistribution in the form of a
>> flat out gift. A handout. Welfare by alternate means. Whether you think
>> that's good or bad is immaterial, it's not a return of hard earned
>> compensation and it will do the economy precious little good. As Roger said,
>> a potentially better tactic would have been a reduction in the tax rate,
>> preferably corporate and personal.
>>
>> g
>> ----- Original Message -----
>> From: "Tom Hansen" <thansen at moscow.com>
>> To: "lfalen" <lfalen at turbonet.com>; <godshatter at yahoo.com>; "Vision2020"
>> <vision2020 at moscow.com>
>> Sent: Thursday, May 08, 2008 12:17 PM
>> Subject: Re: [Vision2020] rebate checks
>>
>>
>>> So -
>>>
>>> Roger Falen is suggesting that it would be wrong for those who "never
>>> payed taxes" to receive a stimulus check?
>>>
>>> "People that never payed taxes" are those who are not part of any tax
>>> bracket . . . the poor.
>>>
>>> Is this right, Mr. Falen?
>>>
>>> Tom Hansen
>>> Moscow, Idaho
>>>
>>>> I don't think that they will help the economy. It is our money that they
>>> are giving back.
>>> I some cases it is givin to people that never payed taxes to begin with.
>>> In this case it
>>> is a transfer of money form those that earned to to those that did not.
>>> It  would have
>>> been better to have reduced taxes and saved the administrative expense.
>>>> Roger
>>>> -----Original message-----
>>>> From: Paul Rumelhart godshatter at yahoo.com
>>>> Date: Wed, 07 May 2008 19:51:21 -0700
>>>> To: Vision2020 vision2020 at moscow.com
>>>> Subject: [Vision2020] rebate checks
>>>>
>>>> > I hate to detract from the abortion and Mexican Consulate threads but
>>> I
>>>> > was just wondering what people here plan on doing with their rebate
>>> checks.
>>>> >
>>>> > Do you think they are a good idea?  Will it help the economy of the
>>> US?
>>>> > How about our local economy?
>>>> >
>>>> > Have you gotten yours yet?
>>>> >
>>>> > For myself, I plan to throw $200 of it at my line of credit at the
>>> bank
>>>> > that I'm trying to pay down (it's the last debt I have that isn't
>>> backed
>>>> > up with a house or a car) and spend the rest on some stupid gadget I
>>>> > don't need, possibly a Wii.  That's assuming I can find one.  If not a
>>>> > Wii, then maybe a Kindle.  If not a Kindle, then I'll probably just
>>> put
>>>> > it in my checking account and let it help me keep from going negative.
>>>> >
>>>> > Paul
>>>> >
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>>>>
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>>>>  serving the communities of the Palouse since 1994.
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>>>>
>>>
>>>
>>> "People who ridicule others while hiding behind anonymous monikers in
>>> chat-
>>> room forums are neither brave nor clever."
>>>
>>> - Latah County Sheriff Wayne Rausch (August 21,
>>> 2007)
>>>
>>> ---------------------------------------------
>>> This message was sent by First Step Internet.
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>>>
>>>
>>> =======================================================
>>> List services made available by First Step Internet,
>>> serving the communities of the Palouse since 1994.
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>>>          mailto:Vision2020 at moscow.com
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>>>
>>
>>
>> =======================================================
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>>  serving the communities of the Palouse since 1994.
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>
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