A few yesterdays ago, we, the American taxpayers, bailed out Bear Stearns up to the tune of $29 billion; then a FHA mortgage and FHA Secure rescue up to $350 billion. And then came the latest of all granddaddies, Fannie Mae and Freddie Mac of up to $200+ billion.
All of these fell into the feds bail out category of “they're too big to fail.”
However, we haven't really seen any kind of a “federal helping hand” - albeit the minuscule Economic Stimulus checks - for the everyday working taxpayers of America.
It's these workers and spenders of America that generate 70 percent of our GDP.
And they also are too big to fail and need help the most, and need it now! Why?
Because they're paying $4 a gallon for gas just to drive to work - if they still have a job.
This $4 they're pumping into their tanks is killing them economically but is financing the building of huge man-made islands and skyscrapers in the Arab world. Oil hit $145.29 a bbl (up 67 percent), but then, “they're our friends,” right?
Memo to U.S. Congress: It's time for some real help for the people who have no K Street lobbyist in Washington and are hanging on by a thread.
Yes, it's time for some concrete help for all the working people of America - be they Democrats, Republicans or Independents.
And one of the easiest ways to help these millions of hurting taxpaying American citizens is to let them deduct their job commuting expenses via an above the line deduction on their tax returns.
No itemization required. Just deduct what it costs to drive or get to and from work.
If we can do it for the multi-billion dollar Bear Stearns, et al, we certainly can - and should - do it for the taxpaying people of America who are on the hook for these “smart money” guys greed and corruption antics.
It's the right thing to do - period!
Bill Balyszak
Auburn
However, we haven't really seen any kind of a “federal helping hand” - albeit the minuscule Economic Stimulus checks - for the everyday working taxpayers of America.
It's these workers and spenders of America that generate 70 percent of our GDP.
And they also are too big to fail and need help the most, and need it now! Why?
Because they're paying $4 a gallon for gas just to drive to work - if they still have a job.
This $4 they're pumping into their tanks is killing them economically but is financing the building of huge man-made islands and skyscrapers in the Arab world. Oil hit $145.29 a bbl (up 67 percent), but then, “they're our friends,” right?
Memo to U.S. Congress: It's time for some real help for the people who have no K Street lobbyist in Washington and are hanging on by a thread.
Yes, it's time for some concrete help for all the working people of America - be they Democrats, Republicans or Independents.
And one of the easiest ways to help these millions of hurting taxpaying American citizens is to let them deduct their job commuting expenses via an above the line deduction on their tax returns.
No itemization required. Just deduct what it costs to drive or get to and from work.
If we can do it for the multi-billion dollar Bear Stearns, et al, we certainly can - and should - do it for the taxpaying people of America who are on the hook for these “smart money” guys greed and corruption antics.
It's the right thing to do - period!
Bill Balyszak
Auburn
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AJ wrote on Sep 14, 2008 9:53 AM:
One of the worst parts of this story which Bill did not mention is that the main officers of Bear Stears knew they were going down, and so gave themselves BILLIONS OF DOLLARS IN BONUSES!!! Yes, I said BILLIONS!!!
Talk about a punch in the face to all taxpayers!! Where is the outrage from the "free market" capitalists?
Profits are privatized, while losses are socialized. It's a great deal for the billionaire cry babies.
Congress should go after these bonuses and refund them to the taxpayers. "
cm wrote on Sep 14, 2008 8:31 AM:
for most 300.00 wasnt enough.
SO 1,000.00 to each American? to most that wouldnt be enough..
So, 5,000.00 to each American? to most that still wouldnt be enough.
So, 10,000.00 to each American? to some that still wouldnt be enough..
bottom line is: what would be enough?
and one way or another the TAX payers would have to pay for all of it for many years to come! "