Did someone misdeliver the message? Biden proposed a highly progressive tax structure which would actually reduce the middle-class burden. And said that no special taxes would be needed - just people patriotically paying their own ordinary income taxes like good citizens should.
What I'd like to hear (at the moment) are the candidates' opinions on what should be done regarding the S&L crash currently in progress. I really don't think that the government taking ownership of these companies is the right answer (even if Freddie Mac and Fannie Mae were already partly or wholly owned by the US Treasury Service). Seriously, why are we getting into a situation where the FDIC will possibly need a bailout of its own?
I suspect that faster information exchange and closer communication among larger groups of entities is only one (albeit highly complex) part of the problem. Emotional exuberance (spend to feel happy, spend because you're feeling happy and free with everything - or in a manic state) and the debt-based lifestyle is also part of it; but living on debt because that's the only way to pay for food and housing speaks to some real economic issues. I suspect that the poverty line has been quietly rising in the background - but I don't have any real evidence of that, and I know for a fact that I can live a relatively comfortable life on $900/month (though my budget would just barely pay the various costs if I had a car and only drove a few miles a day). But of course, I'm currently making about half that.
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timeasmymeasure
no subject
Date: 2008-09-22 02:02 am (UTC)What I'd like to hear (at the moment) are the candidates' opinions on what should be done regarding the S&L crash currently in progress. I really don't think that the government taking ownership of these companies is the right answer (even if Freddie Mac and Fannie Mae were already partly or wholly owned by the US Treasury Service). Seriously, why are we getting into a situation where the FDIC will possibly need a bailout of its own?
I suspect that faster information exchange and closer communication among larger groups of entities is only one (albeit highly complex) part of the problem. Emotional exuberance (spend to feel happy, spend because you're feeling happy and free with everything - or in a manic state) and the debt-based lifestyle is also part of it; but living on debt because that's the only way to pay for food and housing speaks to some real economic issues. I suspect that the poverty line has been quietly rising in the background - but I don't have any real evidence of that, and I know for a fact that I can live a relatively comfortable life on $900/month (though my budget would just barely pay the various costs if I had a car and only drove a few miles a day). But of course, I'm currently making about half that.