Government Bailouts Are Costing Families

If you are rich and make serious mistakes that has a great impact on all taxpayers, Washington will bail you out. Why isn’t anyone talking about this? When do the taxpayers get a break?

When was the last time our United States government gave tax payers a break? I do remember a $300 check, I got from the IRS, which was passed by Congress as part of a Bush stimulus package.

Are we living in the year 2008, or the 1950s? How far can $300 go? My last bag of groceries was about $150. That was with coupons from last Sunday’s paper. That will last about a week. Therefore, in other words, Washington gave us two weeks of free groceries. If you have kids, well, add another $100 to the bag.

When American Express could not pay their bills, they asked the government for help. In order to qualify for the new bailout, a company has to be a financial institution. So, American Express decided to become one. This is something that GM, I mean, GMAC is doing.

If the average tax payer is unable to pay their American Express bill, due to Wall Street mistakes, corporate mistakes, and other mistakes that caused them to be unemployed, they get a black mark on their credit report for seven years. It does not end there, as creditors will ask for a repayment, even if you lost your job.

When General Motors, Ford, and Chrysler make a mistake, they ask us, the American tax payer to bail them out. If we don’t bail them out, millions of people will lose their jobs. Excuse me, but not everyone in America works at one of these fine companies. Not everyone is part of a union where you still get paid if you lose your job.

Some of us understand that the big three are not asking for a “bailout” but for a loan instead. What is the difference? Can a tax payer go to their local community bank and ask for a similar proxy loan? I would like to have one. I know, this would sound as if the common tax payer was greedy.

The big three auto companies are asking the tax payer to trust them, that the loan will be paid back, despite all the dealership closings. If we’re good, we’ll even make money on the stock. I just don’t understand why Washington doesn’t take stock in the American tax payer.

Don’t get me started about AIG.

There are millions of people out of work now. I don’t know if the big three knew that or not. We understand that people making $31 to $60 per hour will lose their jobs, but there are people out of work already that made $8 to $20 per hour.

American tax payers also understand that if the government does not bail out the big three, even the companies that provide parts for servicing automobiles will file bankruptcy. More people will even lose their jobs.

Why aren’t the part makers lowering their prices? Doesn’t everyone have to tighten their belts? I recently had my car serviced. The price for parts were over $400. Even the Bush stimulus package can’t buy that.

If you are an American tax payer who made financial mistakes, it’s your fault. That is what Washington is saying. However, if you are rich and spend $1,200 per hour on jet fuel, you are one of the lucky people to have your debt forgiven and erased. No questions asked.

Mortgage companies were forgiven for their mistakes. Debts erased and all. However, the tax payer who is ready to jump off a bridge can’t even get a break. It was nice that some mortgage companies delayed their foreclosures until after the holidays, but do they really think there will be Christmas in a home that will be taken away after January 1, 2009?

I often wonder how banks can get away with having their debts wiped clean, but still ask the American tax payer to pay their debts. The recent bailout, which is near $1 trillion dollars, will not help the tax payer.

While banks can make mistakes and are forgiven, the American tax payer still has to pay their debts and pay the banks and other corporations for the bailout.

If the American tax payer has to pay for these bailouts, at least give them a break too. Erase and wipe their debts clean. It is an outrage that the tax payer has to pay for all these luxury bailouts plus pay for their debts too.

Families are losing their homes, jobs, and we’re worried about the big three? What’s going on here?

Financial experts say that if every American tax payer is bailed out, it would ruin our economy. In fact, there would be a total collapse. How different is that than today?

The smart thing to do is bail out the tax payers, so they have money to spend again. Just think how fast the economy could recover. Think about all those cars they could buy from General Motors, Ford and Chrysler. This plan will benefit everyone, and will save jobs and put people back to work.
Maybe one day the American tax payer could be good enough to get one of those high-society bailouts. Gosh, I wish I was part of that elite club.

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