Tuesday, September 23, 2008

Bernie's Plan
Bernie sanders plan in more detail.
I have proposed a three part plan to accomplish that goal which includes a five-year, 10% surtax on the income of individuals above $500,000 a year, and $1 million a year for couples; a requirement that the price the government pays for any mortgage assets are discounted appropriately so that government can recover the amount it paid for them; and, finally, the government should receive equity in the companies it bails out so that when the stock of these companies rises after the bailout, taxpayers also have the opportunity to share in the resulting windfall. Taken together, these measures would provide the best guarantee that at the end of five years, the government will have gotten back the money it put out.

Tax, Regulate, and bail out the little guy. If mortgages keep failing the underling problem does not go away. We will see. Conservatives are always willing to give millions, billions, or now trillions to rich white republicans that can not take responsibility for themselves. But some poor guy who was screwed by the rich white republican can not have a couple of bucks to feed his family. That is conservatism for you.

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