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05-09-2011, 02:31 PM
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Loyal Opposition
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Join Date: Oct 2009
Location: Johnson County, Kansas
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The end of capitalism
It looks like the US bailout of GM has caused the end of capitalism as we know it. GM was only able to eke out a $3.2 billion profit for the first quarter.
Regards,
D-Ray
__________________
Then I'll get on my knees and pray,
We won't get fooled again; Don't get fooled again
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05-09-2011, 02:59 PM
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Reformed Know-Nothing
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Join Date: Oct 2009
Location: MoCo, MD
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Yeh, I'm just waiting for the parade of GOP nay-sayers to come forth and admit that they were dead wrong on this one.
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As long as the roots are not severed, all will be well in the garden.
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05-09-2011, 03:11 PM
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Possibly admin. Maybe ;)
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Join Date: Sep 2009
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So, what's the return on the gov'ts investment?
Pete
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“How many legs does a dog have if you call the tail a leg? Four. Calling a tail a leg doesn't make it a leg.”
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05-09-2011, 03:14 PM
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Reformed Know-Nothing
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Join Date: Oct 2009
Location: MoCo, MD
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Quote:
Originally Posted by piece-itpete
So, what's the return on the gov'ts investment?
Pete
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It'll be pretty damn high once they sell all their stock and collect tax revenues from GM and their employees. A home run, I'd say (compared to the alternative the GOP proposed (i.e., do nothing)).
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As long as the roots are not severed, all will be well in the garden.
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05-09-2011, 03:19 PM
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Possibly admin. Maybe ;)
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Join Date: Sep 2009
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Then just imagine all that wonderful tax revenue generated by the bank bailout.
Pete
__________________
“How many legs does a dog have if you call the tail a leg? Four. Calling a tail a leg doesn't make it a leg.”
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05-09-2011, 03:21 PM
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Loyal Opposition
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Join Date: Oct 2009
Location: Johnson County, Kansas
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Quote:
Originally Posted by piece-itpete
So, what's the return on the gov'ts investment?
Pete
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Maybe 100,000 more taxpayers working. That would equal about $200,000,000 in annual income tax revenue and about $750,000,000 annually in trust fund tax revenue. Of course that's above whatever the actual sale of the stock eventually nets.
EDIT: Oops, it looks like my numbers were way low. It is estimated that the bailout of both GM and Chrysler saved 1,400,000 jobs. The financial effect of that, in terms of save unemployment compensation, tax revenue and trust fund tax revenue is about $27,600,000 in 2009 and 10.
Regards,
D-Ray
__________________
Then I'll get on my knees and pray,
We won't get fooled again; Don't get fooled again
Last edited by d-ray657; 05-09-2011 at 03:29 PM.
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05-09-2011, 03:25 PM
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Reformed Know-Nothing
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Join Date: Oct 2009
Location: MoCo, MD
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Quote:
Originally Posted by piece-itpete
Then just imagine all that wonderful tax revenue generated by the bank bailout.
Pete
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That's happening too, though it wasn't the thread's topic (nor will the tax revenue be as high as it should due to our screwy tax laws on the investor class (particularly hedge fund managers)).
Do you expect the GOP to admit it was also wrong with its incessant TARP criticism (nothwithstanding the fact it started under Dubya)?
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05-09-2011, 03:27 PM
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Join Date: Sep 2009
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Bonuses aren't taxed at the same rate?
Pete
__________________
“How many legs does a dog have if you call the tail a leg? Four. Calling a tail a leg doesn't make it a leg.”
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05-09-2011, 03:32 PM
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Loyal Opposition
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Join Date: Oct 2009
Location: Johnson County, Kansas
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Quote:
Originally Posted by piece-itpete
Then just imagine all that wonderful tax revenue generated by the bank bailout.
Pete
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Actually there has been an economic report that the deficit would have been half again as much in 2009 without the government intervention and the actions of the fed.
Regards,
D-Ray
__________________
Then I'll get on my knees and pray,
We won't get fooled again; Don't get fooled again
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05-09-2011, 03:39 PM
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Reformed Know-Nothing
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Join Date: Oct 2009
Location: MoCo, MD
Posts: 25,916
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Quote:
Originally Posted by piece-itpete
Bonuses aren't taxed at the same rate?
Pete
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http://www.epi.org/publications/entry/pm120/
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