quote: Bankruptcy didn't keep GM down for long. With a multitude of offers for GM Europe on the table and Saturn and Hummer offloaded to the Penske Automotive Group and a Chinese buyer, respectively, GM has trimmed its fat and is ready to move ahead
quote: First I must say I do get good laughs out of the ratings
quote: But from the tone of your post I assume you don't think the elderly should get the benefits they were promissed and worked for??
quote: Social security is different. People who retire today and in the future have paid into SS for all their lives with the government guaranteeing repayment.
quote: I wonder if you'll feel the same way when the gov't cuts our social security in 20 years.
quote: That certainly would cut the deficit a good deal. I'm not sure how much of it is the money that the Government borrowed from the Social Security's fund (they "borrow" ALL of it every year), but it's quite a lot.Basically you suggest the government file Chapter 11 and erase those debts to the SS's fund?
quote: The other thing to logic of "why am I paying for folks retiring now".....I think that is equal to my question "why do I pay 2/3rds of my taxes to the local school system -- when I have no kids?"..... Government officials would answer BOTH questions the same --- "Because you are a citizen of this country and those are the rules you must abide by, and there would be no other way to afford it if folks could make exceptions and not pay into the system"....
quote: The only problem in the logic of making it go away is --- do we cut off folks who are depending on it RIGHT NOW? Mind you for us 30-somethings (especially later 30 somethings) our own parents could be depending on SS now or getting very close to the time they need to depend on it.
quote: The UAW is the scariest part of the company. They will now run the company into the ground by giving themselves all the conessions they want regardless of the effect on the company.
quote: I can't tell if you're either optimistic or sarcastic.
quote: making same crap cars nobody wants?
quote: It sounds small, but $50B here and there starts adding up. Let's see, if there are 300M people in the US, everyone is paying $600 just for this one boondoggle, plus the interest we'll have to pay back to China on the debt.
quote: One more point - you mention something about large businesses that pay taxes to cover this. Businesses don't pay taxes, consumers do. It's true that the US has one of the highest corporate tax rates in the world, but it is paid by the consumer.
quote: Of course, anyone who has ever studied and ounce of history knows it does not work. Every time it has been tried, it has failed. It always leads to less liberty and more tyranny. Always.
quote: I personally don’t get all the government bashing, while I’m certainly not blind to a certain degree of ineptness on its part, GM and Chrysler ran themselves into the ground without any government assistance, so I really don’t see how the government could do any worse since neither company would even exist right now without them.
quote: Tell me where in the Constitution of the United States the Federal Gov't is granted authority to take over private industry and run it. There is none...therefore, these bailouts (aka gov't managed bankruptcies) are unconstitutional.
quote: Article 1 - The Legislative BranchSection 8 - Powers of Congress"The Congress shall have Power To ...establish ... uniform Laws on the subject of Bankruptcies throughout the United States;"
quote: Tell me where in the Constitution of the United States the Federal Gov't is granted authority to take over private industry and run it.
quote: However, Congress may enact bankruptcy laws that allow for the Federal government to assume control of private industries. A scary proposition, but it is in the constitution, which, was the statement you made.
quote: We, as tax payers, are owed $50,000,000 by GM.
quote: I'm not funding a company that is owned by the Obama administration.
quote: WoWah, a double whammy. First you pay for it through taxes, then you want to trash it? How FUCKING DUMB is that!
quote: The new company will not be publicly traded, and those who previously held stock are essentially wiped out.
quote: The people aren't even left with their change....
quote: Ill-informed Traders It seems
quote: It isn't communism.... it's called CORRUPTION.
quote: They got exactly what they wanted while legitimate investors were given the shaft.
quote: No body forced the investors to put their money on GM (most of them at least), they did it out of greed and they got burnt.
quote: And I do consider greedy to only looking a the potential gains and disregarding the risks
quote: If people don't BUY GM cars, they don't make money to cover expenses.
quote: Then where do they turn for more money? The treasury, who raises taxes.
quote: So by not buying GM cars you are indirectly raising taxes, which you claim to hate paying.
quote: GM is also launching a new website called "Tell Fritz"
quote: The $60 Billion we paid to get GM out of the red was not spent to save an American icon, it was a $60 Billion pay off to the Unions and a down payment for the votes of every GM worker in 2010/2012.