AMERICAblog: Obama wants to increase FDIC insurance to $250,000
Dave of the Jungle
· 1 year ago
This is a man whose time has come.
BLOGGING BITCH!
· 1 year ago
I distinctly remember some fucker telling me that deficits don't matter. So, that was a lie?
HereinDC
· 1 year ago
Wanna bet John McCain will say 250,001.00?
houstonray
· 1 year ago
Or he'll say that Obama is "risking further damage to the economy by proposing outlandish spending proposals".... :-)
ZennButtKicker (tlhwraith)
· 1 year ago
and then a week later say 250,001.00...
Happy_Housewife
· 1 year ago
Here's my bright idea: Remove the earnings cap from Social Security so that everyone under 65 pays into it, based on your income (no matter whether you are working, or your income is based on investment) and reduce the tax to 2% of your earnings for everyone.
If Buffett, Gates, Cindy McCain, etc were all paying, it would clear up the social security deficit in a jiffy, and the lower social security tax would help stimulate the economy.
houstonray
· 1 year ago
Especially since so many of them, like McCain, still COLLECT their Social Security when they don't need it...
ZennButtKicker (tlhwraith)
· 1 year ago
Didn't Obama already suggest that as part of his economic package? My only caveat to that would be that if that happens, being one of the people affected by it (at least until I was laid off yesterday), I also think the caps need to be removed if/when "stimulus checks" are sent out. It pissed me off to no end that I was financiing my neighbors "stimulus check" because I was above the threshold level for qualifying.
SCLiberal
· 1 year ago
If I had $100,000 to insure I'd faint.
ChicagoKid
· 1 year ago
OT: Why is that McCain's VP pick Sarah Palin has to "cram" for the debate? Shouldn't that fact instantly disqualify her?! If someone is that stupid, they should not have been picked.
Regarding the debate, Biden's tactic should be to give short, concise answers and let her ramble on interweaving pointless talking points. Her complete lack of ability to give logical answers will make her the laughingstock of the world.
"Guys and gals."
houstonray
· 1 year ago
Good point, studies show that a majority of the people who cram right before a test don't retain the information just 48 hours after taking the test. So this time next week, she'll be stupid again, and still potentially a heartbeat away. God, that's scary...
I like the idea for Biden, short concise answers with lots of detail, and then let her ramble on and use up all her time. Wouldn't it be hilarious if they have to keep telling her "Gov Palin, your time is up" over and over?
grandma
· 1 year ago
Obama's Tax Cut Ad; RNC Ad Blasts Bailout Plans
Here's evidence that the RNC and the McCain campaign aren't coordinating messages: the RNC's ad blasts the bailout plan -- the same bailout plan that McCain was working the phones to support.
We as americans enjoy a good life with many amenities and servicies. These servicies cost money and that is why we pay taxes through our employmet taxas, as we should. If we, as citizens, demand more of our government to make our lives easier, we are all required to pay our way, one way or another. My concern is those citizens who go overseas to work or take their businesses overseas who, through loop holes or laws, are not required to pay their fair portion of taxes to pay for our way of life. I feel if laws were establised for u.s. citizens to pay their fair share of income taxes, regardles of where it was earned, would be a great help to our economy. It would also prevent companies to go offshore and start new businesses. If people want to live in this country (U.S) and claim to be americans,. support the U.S.
lutton
· 1 year ago
>>The current insurance limit of $100,000 was set 28 years ago and has not been adjusted for inflation."
Can anyone do that math real quick? What is that $100k from 28 years ago comparable to in today's dollars? And the $250k?
$250k in 2008 has the same buying power as $94,027.00 in 1980
2008
· 1 year ago
Hey, am I still being banned for not being a McCain supporter?
2 of my benign messages censored by Americablog--the epitome of freedom for all?
DLR
· 1 year ago
What about increasing the insurance for IRA accounts, currently limited to $250K from all sources within a single institution?
Per Renava's comments regarding taxes, as a person living overseas because my same-sex partner is not allowed into the US I have worked overseas for 7 out of the last 10 years. Many of us are required to pay taxes on what we earn in the country we are living in. Some countries have agreements with the US to recognize these taxes, many do not. In the meantime, I still report all of my income and pay US taxes on any US earned income. Having to pay taxes in 2 countries on the same amount is an additional burden for being forced to live overseas. Issues aren't always clear cut.
Indigo
· 1 year ago
That's an excellent idea! The $100,00.00 limit has been in place since Truman, maybe longer. Imagine how much that amount was worth in those days. My, goodness!
bunnyjump
· 1 year ago
Just heard on the radio....McCain lifted this...
marblex
· 1 year ago
"“The bill rejected yesterday was a marked improvement over the original blank check proposed by the Bush Administration. It included restraints on CEO pay, protections for homeowners, strict oversight as to how the money is spent, and an assurance that taxpayers will recover their money once the economy recovers. Given the progress we have made, I believe we are unlikely to succeed if we start from scratch or reopen negotiations about the core elements of the agreement. But in order to pass this plan, we must do more."
Obviously Obama DID NOT READ the proposed (now failed bill). It had absolutely no teeth and the only difference between it and Paulson's original proposition is the number of pages. Seriously, what kind of enforcement mechanism does one employ to ensure that a mandate like "Shall give consideration to" has been met? Oh, I know... *ring ring* Hi Henry? Just checking to ensure that before you bought this crap securities, you gave consideration to the taxpayers' interest. ... Oh you did? Ok coolio."
No real restraints on executive pay AT ALL. In fact in the piece of crap now failed bill, there was every free way out, every squish term, every loophole ever devised by any attorney. It reads like a free form Palin response to questions about the economy.
No Barak. I like you better than the cranky demented unstable and probably terminally ill old fart McCain (and his know nothing rube running mate, Princess Mooseturd) but you're WRONG about the failed bill.
The bill's failure gives Dems a REAL opportunity to fashion an appropriate remedy WITH punitive measures. Moreover, rather than forcing taxpayers to borrow 700 billion dollars PLUS INTEREST from the Fed to pay for this mess, here are a handful of ideas for other revenue that could be used to fund the bailout:
1. END the Iraq war and save $128 BILLION PER MONTH http://abcnews.go.com/International/wireStory?i... 2. REPEAL Bushie's tax cuts for the filthy rich and make THEM pay for the bailout 3. Legalize marijuana and use the tax revenue from sales to finance the bailout 4. Tax churches that are actively politically involved in violation of their IRS tax exempt status 5. Surcharge executives of failed banks and financial institutions to be helped by the bailout 6. Buy every house in forclosure with the 700 billion, thereby lifting the lenders out of peril and at the same time saving the home. http://www.dakotademocrat.com/?p=149
Any acceptable bailout plan MUST CONTAIN PUNITIVE MEASURES and REAL regulations, not the toothless, discretionary bullshit provisions the congress crapped into their failed legislation.
No... the extra text and added length on the bill defeated yesterday was just window dressing....talk about lipstick on a pig ... in substance, the failed bill was nothing more than Paulson's original proposal with more pages.
And before ANYTHING is done, congress needs to consult real economic experts and not just its own echo chamber and the idiots who got us into this mess in the first place. Genuine efforts must be made to derive an appropriate remedial measure or measures, including a studied consideration of how much money it will take. Even Paulson admitted that his 700 billion dollar figure was pulled out of his ass.
The problem we face is serious and it requires a serious set of solutions, not a knee-jerk, jump-through-your-ass half baked measure that in essence is complete capitulation to the unfettered blank check originally proposed.
SCLiberal
· 1 year ago
What we are seeing is politicians (on both sides) acting like politicians.
marblex
· 1 year ago
TREASURY ADMITS EXECUTIVE COMPENSATION LIMITS IN FAILED BILL A FARCE
To those of you still defending the miserable piece of shit that got defeated yesterday, I ask... WHY?
ZennButtKicker (tlhwraith)
· 1 year ago
Because the entire global finance market has a collective "no confidence" feeling and tanked yesterday. The markets are as much psychology as real money and if the world (and US) markets think the US is just going to let this thing play out, the crediters will stop lending, everyone will (and have) take their marbles home, and utlimately no one gets anything except for a worldwide financial depression.
Is that a good enough answer?
MNUSA
· 1 year ago
Obama gets it. That's why he should be elected. For all those out there who say, "I voted for Bush, but I wouldn't vote for him again," don't you dare pull the lever for McCain. I really don't want to listen to you in four years telling me, "I voted for McCain, but I sure wouldn't vote for him again." Be part of helping our country move forward, vote for Obama.
The only problem is that there isn't enough money in FDIC to cover the 7+trillion in cash now. Guess we could just keep printing more cash and killing the value of the dollar more. However, it is a good political move and it is easy for people to relate too in this current enviroment. But, the FDIC is no where close to having enough money. They have spoke about raising the premium, but where are banks going to get the cash?
All Comments
If Buffett, Gates, Cindy McCain, etc were all paying, it would clear up the social security deficit in a jiffy, and the lower social security tax would help stimulate the economy.
Regarding the debate, Biden's tactic should be to give short, concise answers and let her ramble on interweaving pointless talking points. Her complete lack of ability to give logical answers will make her the laughingstock of the world.
"Guys and gals."
I like the idea for Biden, short concise answers with lots of detail, and then let her ramble on and use up all her time. Wouldn't it be hilarious if they have to keep telling her "Gov Palin, your time is up" over and over?
Here's evidence that the RNC and the McCain campaign aren't coordinating messages: the RNC's ad blasts the bailout plan -- the same bailout plan that McCain was working the phones to support.
http://marcambinder.theatlantic.com/archives/20...
We need to restore credit and credibility
My concern is those citizens who go overseas to work or take their businesses overseas who, through loop holes or laws, are not required to pay their fair portion of taxes to pay for our way of life. I feel if laws were establised for u.s. citizens to pay their fair share of income taxes, regardles of where it was earned, would be a great help to our economy. It would also prevent companies to go offshore and start new businesses. If people want to live in this country (U.S) and claim to be americans,. support the U.S.
Can anyone do that math real quick? What is that $100k from 28 years ago comparable to in today's dollars? And the $250k?
$250,000 today is less than $100,000 in 1980...
$250k in 2008
has the same buying power as
$94,027.00 in 1980
2 of my benign messages censored by Americablog--the epitome of
freedom for all?
Per Renava's comments regarding taxes, as a person living overseas because my same-sex partner is not allowed into the US I have worked overseas for 7 out of the last 10 years. Many of us are required to pay taxes on what we earn in the country we are living in. Some countries have agreements with the US to recognize these taxes, many do not. In the meantime, I still report all of my income and pay US taxes on any US earned income. Having to pay taxes in 2 countries on the same amount is an additional burden for being forced to live overseas. Issues aren't always clear cut.
Obviously Obama DID NOT READ the proposed (now failed bill). It had absolutely no teeth and the only difference between it and Paulson's original proposition is the number of pages. Seriously, what kind of enforcement mechanism does one employ to ensure that a mandate like "Shall give consideration to" has been met? Oh, I know... *ring ring* Hi Henry? Just checking to ensure that before you bought this crap securities, you gave consideration to the taxpayers' interest. ... Oh you did? Ok coolio."
No real restraints on executive pay AT ALL. In fact in the piece of crap now failed bill, there was every free way out, every squish term, every loophole ever devised by any attorney. It reads like a free form Palin response to questions about the economy.
No Barak. I like you better than the cranky demented unstable and probably terminally ill old fart McCain (and his know nothing rube running mate, Princess Mooseturd) but you're WRONG about the failed bill.
The bill's failure gives Dems a REAL opportunity to fashion an appropriate remedy WITH punitive measures. Moreover, rather than forcing taxpayers to borrow 700 billion dollars PLUS INTEREST from the Fed to pay for this mess, here are a handful of ideas for other revenue that could be used to fund the bailout:
1. END the Iraq war and save $128 BILLION PER MONTH http://abcnews.go.com/International/wireStory?i...
2. REPEAL Bushie's tax cuts for the filthy rich and make THEM pay for the bailout
3. Legalize marijuana and use the tax revenue from sales to finance the bailout
4. Tax churches that are actively politically involved in violation of their IRS tax exempt status
5. Surcharge executives of failed banks and financial institutions to be helped by the bailout
6. Buy every house in forclosure with the 700 billion, thereby lifting the lenders out of peril and at the same time saving the home. http://www.dakotademocrat.com/?p=149
Any acceptable bailout plan MUST CONTAIN PUNITIVE MEASURES and REAL regulations, not the toothless, discretionary bullshit provisions the congress crapped into their failed legislation.
No... the extra text and added length on the bill defeated yesterday was just window dressing....talk about lipstick on a pig ... in substance, the failed bill was nothing more than Paulson's original proposal with more pages.
And before ANYTHING is done, congress needs to consult real economic experts and not just its own echo chamber and the idiots who got us into this mess in the first place. Genuine efforts must be made to derive an appropriate remedial measure or measures, including a studied consideration of how much money it will take. Even Paulson admitted that his 700 billion dollar figure was pulled out of his ass.
The problem we face is serious and it requires a serious set of solutions, not a knee-jerk, jump-through-your-ass half baked measure that in essence is complete capitulation to the unfettered blank check originally proposed.
http://www.dailykos.com/story/2008/9/29/19138/6703
To those of you still defending the miserable piece of shit that got defeated yesterday, I ask... WHY?
Is that a good enough answer?