General > General info Somewhat hot tub related

another one bites the dust

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Bonibelle:
Sadly, it looks like Circuit City is done. http://www.circuitcity.com/closed.html I say sadly because so many people are losing their jobs. YET...we as taxpayers are still bailing out the banks who were the root of all this mess to start with. >:( >:(
I think the government should be able to hit all those banking execs who raked in the huge bonuses with HUGE taxes.  >:(

Vanguard:
What are we going to do with the politicians who forced the banks to make the sub-prime loans?  What about the politicians who said we didn't need to regulate Fannie Mae and Freddie Mac.  That wasn't Bush.  It was Barney Frank.

I feel bad for the employees of these companies, but its not the compensation of the execs that is putting them under.

Swell-Tub:
I find it funny that people think if you are rich then you should pay more taxes. So work hard and then support the ones who can't make as much. I think charity is a great thing but being forced is socialism.

I think it is poor management when boards and stockholders agree to contracts that allow CEO's to make hugh sum's of money for such poor performance.

And yes greed and feeling sorry for the low income population caused the mortgage crisis. Giving loans to people who could not afford the payments because we think they deserve a chance of home ownership is a bad idea. Barney Frank is like a CEO who makes too much salary for a failed policy and yet he gets to keep his job.

Now I'm so stressed I need to go sit in my hot tub. Wait, since I'm rich enough to own a hot tub I guess I need to help buy one for a homeless person in Chicago.

Bonibelle:
Yeah Vanguard you are right...that "Share the wealth" mentality really did us in. Share the loans even if they can't be paid back. But ultimately who was in the driver's seat? Who stood to benefit from all these loans IF they were paid as they should have been? NOT the politicians, but the banks.. IF the government says to load your spa showroom with hundreds of tubs in anticipation of the stimulus package checks, are you going to buy tons of tubs to sell, or are you going to look at the reality and say they will never buy tubs with those checks? And then if you do buy all the tubs in anticipation should you get a huge bonus when they don't sell?  Sorry maybe I don't understand all of this but I'll be darned if I understand why if you are successful you should pay more back. An across the board tax rate would resolve everything..you still pay based on what you make, so naturally those that make more pay more, but not a disproportionate amount. >:(

Back to Circuit City..some stores are starting to liquidate already. Good time to catch a deal on outside speakers  ;)

Renee:
I support the Fair Tax idea, where people pay taxes on what they BUY, not on what they MAKE.  
(Yes...I'm a Huckabee supporter)
Think how much money alone we'd save just shutting down the IRS!
Am I'm sick of the self-employed relative/neighbor that can deduct EVERYTHING they buy, even if it's not used for business, and get away with it.
The tax system we have now is outdated and unfair.
Google "fair tax" to learn more....

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