[QUOTE="Truth_Seekr"] [QUOTE="FragStains"]You are removing self-reliance and personal responsibility from society. FragStains
Right. That's the usual argument I hear, but given what's gone down in the past few months - to those that say it wouldn't be fair to pay for someone elses expense, I must ask.....
How fair do you see it that You now have to pay the $850 Billion dollar bailout for something you didn't do? Taking away personal responsibility from the rich.
It's is not rich people's fault that poor people got mortgages they couldn't afford. And, I haven't seen one extra penny taken from my paycheck for taxes since this occured.
I'd say it's a mixture of both faults, but more the banks.
The people looking for a good deal got suckered in by whatever proposal the banks had to offer thinking they'd come out ahead, despite being poor and/or low in assets, they saw the oppurtunity and got caught up in the dream. As they say, "If it's to good to be true, it probably isn't". Right.
But then the banks are faults for ultimately accepting loan contracts from people who had no real assets to back anything up. They get SSNs - previous & current bank records - credit histories and a plethora of information about anyone wanting to do business with them that should be taken into account on the banks behalf before signing any kind of acceptance. So it's not like the banks got suckered in by the people looking for loans, they screwed themselves over by mismanaging the "money" they handle. IMO, it's the banks fault in the end.
As far as the tax, I suppose it would come under Federal Tax, but rest assured, we're paying that bailout for generations to come.
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