Tax payers face heavy losses on auto bailout.

[fdjizm]

http://finance.yahoo.com/news/Taxpay...4&asset=&ccode

looks like we are NOT getting our money back contrary to popular belief.

"The Congressional Oversight Panel did not provide an estimate of the projected loss in its latest monthly report on the $700 billion Troubled Asset Relief Program. But it said most of the $23 billion initially provided to General Motors Corp. and Chrysler LLC late last year is unlikely to be repaid."

"Other agencies have also projected large losses on the loans and investments provided to the industry. The Congressional Budget Office estimated in June that taxpayers would lose about $40 billion of the first $55 billion in aid."

[PQ]

I'm shocked!!!!!!!!








NOT!!!!

[Zabo]

KILL GM! KILL CHRYSLER! KILL FORD! KILL HENDERSON! KILL MULLALY! KILL THE ITALIAN GUY THAT HEAD'S CHRYSLER NOW! IT'S ALL THEIR FAULT!

*Awaits this reaction from the idiotic general public*

[Supermans]

Originally Posted by PQ

I'm shocked!!!!!!!!








NOT!!!!

I'm quite sure this won't be mentioned at all in tonight's 9/9/09 Obama speech.

[ssump29]

Read the report carefully. Its WAY too early to even start making predictions. Everyone esp the people preparing this report needs to calm down. There is no timetable when this has to be paid back, hell GM could pay it back in five years. So there really is no need to come out with this report 2 months after GM went thru bk.

I'll sit back and revisit this once the economy gets back on track.

[FenwickHockey65]

[Xanthos]

Taxpayers will suffer heavy losses?

I hate to break it to all of you, but we suffer 100% losses on our taxes. That money is no longer ours - it belongs solely to the government to be used at their discretion. The only control we have over the use of that money is the threat of lost votes if they use it in a way we don't like.

Why do you think pork barrel spending exists? Because taxpayers like having their money spent on random things? No - because they have no control over how its spent.

So really this story should be titled "Government sufferes heavy loss" not "Taxpayers suffer heavy loss."
- X

[ssump29]

I say this all the time and people look at me like I'm crazy.

I go a step farther and always say its no longer your money, once you file your taxes and get whatever little money back that you may get the rest is their's(government) and theres nothing you can do about it.

Originally Posted by Xanthos

Taxpayers will suffer heavy losses?

I hate to break it to all of you, but we suffer 100% losses on our taxes. That money is no longer ours - it belongs solely to the government to be used at their discretion. The only control we have over the use of that money is the threat of lost votes if they use it in a way we don't like.

Why do you think pork barrel spending exists? Because taxpayers like having their money spent on random things? No - because they have no control over how its spent.

So really this story should be titled "Government sufferes heavy loss" not "Taxpayers suffer heavy loss."
- X

[Supermans]

Originally Posted by Xanthos

Taxpayers will suffer heavy losses?

I hate to break it to all of you, but we suffer 100% losses on our taxes. That money is no longer ours - it belongs solely to the government to be used at their discretion. The only control we have over the use of that money is the threat of lost votes if they use it in a way we don't like.

Why do you think pork barrel spending exists? Because taxpayers like having their money spent on random things? No - because they have no control over how its spent.

So really this story should be titled "Government sufferes heavy loss" not "Taxpayers suffer heavy loss."
- X

We pay those taxes.. I don't see your point..We the people...make up the Government in this republic. The government doesn't make money, it never has with any Government run entity.

[PQ]

Originally Posted by Xanthos

Taxpayers will suffer heavy losses?

I hate to break it to all of you, but we suffer 100% losses on our taxes. That money is no longer ours - it belongs solely to the government to be used at their discretion. The only control we have over the use of that money is the threat of lost votes if they use it in a way we don't like.

Why do you think pork barrel spending exists? Because taxpayers like having their money spent on random things? No - because they have no control over how its spent.

So really this story should be titled "Government sufferes heavy loss" not "Taxpayers suffer heavy loss."
- X

Originally Posted by ssump29

I say this all the time and people look at me like I'm crazy.

I go a step farther and always say its no longer your money, once you file your taxes and get whatever little money back that you may get the rest is their's(government) and theres nothing you can do about it.

-X, I see what you guys are saying but that attitude x 300 million = disaster. Complacentcy is dangerous. It's OUR money!!!!! OURS!!!!!! When we all decide to think like that is when we are no longer a Republic but become an Empire.

[BigRigMike]

Originally Posted by Zabo

KILL GM! KILL CHRYSLER! KILL FORD! KILL HENDERSON! KILL MULLALY! KILL THE ITALIAN GUY THAT HEAD'S CHRYSLER NOW! IT'S ALL THEIR FAULT!

*Awaits this reaction from the idiotic general public*

Save the Italian.........He made my company profitable

[Supermans]

Originally Posted by PQ

-X, I see what you guys are saying but that attitude x 300 million = disaster. Complacentcy is dangerous. It's OUR money!!!!! OURS!!!!!! When we all decide to think like that is when we are no longer a Republic but become an Empire.

[Xanthos]

Originally Posted by PQ

-X, I see what you guys are saying but that attitude x 300 million = disaster. Complacentcy is dangerous. It's OUR money!!!!! OURS!!!!!! When we all decide to think like that is when we are no longer a Republic but become an Empire.

I'm not being complacent. I'm merely stating fact.

We have no physical control over how congress uses tax money. Other than to vote for different people next election.

Ranting and raging about how congress is spending "my money" - which, as I stated earlier, is no longer my money - does NOTHING.

Let me repeat - NOTHING.

Its the same concept as your employer thinking they have some say over how you spend your paycheck. After all - the money came from them, right?

This whole concept is ridiculous.
- X

P.S. - I see you trimmed your name down too.

[ssump29]

Originally Posted by Supermans

We pay those taxes.. I don't see your point..We the people...make up the Government in this republic. The government doesn't make money, it never has with any Government run entity.

No its not. If you had the choice to not pay taxes you would not pay the government anything. The government is a business alright. What the end result if you don't pay taxes? They put a levy on your wages and take your money. And if you evade them they will come to arrest you, so you see you don't pay taxes because you want to so why do you think you would have a say how they spend money they take from you in the first place without your consent. Simple answer is you have no say.

This country is backwards, people like to talk about founding fathers and reasons this country was formed, yet they forget the all important one is the reason we broke away was because of taxes and freedom of religion. Now look at this country almost 300 years later, taxes out the ass and freedom of religion choice all but silenced and taken away.

Government business is to make money off of our backs, thats what business the government is in legal pimping