Swordsponge said:
3. are presdent is telling us only the top 5% of the taxpayer will be ask to pay for the 19 trillion dollar debt are congress give us.
4. the bank are recovering by increase intrest rates on loans and credit cards which is leading the recory of are banking industy. congress is mad the banks are pulling out of debt this way and is trying to stop it. becouse the banks are telling to keep there fucking money.
5. the taxpayer is being fuck by the states due to the states being broke needing money there rasing taxes, fedral goverment bailed out corpations that facing bankrupcy spent 19 trillion dollars rasing taxs on everything excpet income taxs it seems. and the banks are screwing you to pay back the fedral goverment after the goverment told them to take the fucking money and the banking are telling to take there fucking money back.
Let me see if I can't decipher and go through your totally wrong points here:
3. Uh, Congress and the President never said that the top 5% of the country are going to pay for the supposed $19 trillion. They said that they want to raise the taxes of the top 5% because the top 5% pay a grossly disportionate amount (meaning while they pay a lot, they don't take a big as hit as the middle class). Now, how they are going to do that when the upper class always finds a loophole that allows them to opt out of income taxes is a mystery to me.
4. Then the banks will freaking learn the hard way that people will STOP USING CREDIT to pay for everything. The government will pay the people to pay off the credit now, which will then rob the banks of the 15-25% interest that they could potentially collect over 10 years of squeezing the consumer. And that will kill these so called credit banks who think that we're going to constantly fall for their shitty high-interest crap. They'll have to take the bail out if they think that raising interest rates on credit and loans is the way to go.
5. That's so malformed. The states are raising taxes because they are broke because they are no longer getting earmarks from the Federal government (because that was the fucking platform that every freaking candidate in the election ran for - to remove earmarks) to do their stupid little projects that don't have significant value or yield for the people of the state. The Federal government isn't raising taxes because the gradual increase in people paying taxes (because the population is always growing) is actually increasing their intake of tax money (not enough to cover $19 trillion, but we've always - ALWAYS - overspent in budgets, starting back in the early 1900's). The banks are the greedy motherfuckers who have been playing a game of faulty leverage against a consumer base that can't pay back enough fast enough to cover their costs.
I'm glad the banks are giving back their money. Let that money go to something good, like funding energy research or improving transportation or fixing our power infrastructure. These shitheads in the banking industry need to learn the hard way that pushing the consumer to the limit in the hopes of getting 200% returns over the life of a loan or credit is stupid. At some point, the government is going to swoop in and either abolish the debt or pay it for the consumer, and then the projected profit from the 25% interest rate on credit/loans will fall like a rock. They want you to get stuck paying that credit line for 20+ years at that level (and never paying it off). This break in the economy has brought the focus on this, and now people will either a) leave in droves, or b) default.
Good riddance to bad credit/loan banks.