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      09-03-2009, 09:13 PM   #32
Nixon
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Quote:
Originally Posted by scottwww View Post
Cool. I am glad some of it has been repaid. I am concerned about what has not been repaid and more concerned about what likely will not be repaid. (Not to revisit right now my other concerns about the role of government).

Even if only 75% of the rest of this pool of money is paid back (roughly the current value of the warrants and the holdings in the banks left to pay back their loans), we would still recover around 85% of our money from this group of loans. I would be satisfied with that.

But let's apply this same standard to something you've supported in the past. Tax cuts for the Rich.

I'm wondering is when the billions of Bush tax cuts are going to be paid back? They were supposed to increase how much money the Treasury collected by stimulating the wealthy to put their money into play and create businesses. That's the whole "supply-side" economics thing.

But they haven't. They've horded their money, and are keeping it OUT of the economy. Normally the Fed Bank holds around 25 billion in private deposits. But right now the Fed Bank is holding 800 billion in private deposits!

The tax cuts that were supposed to pay for themselves by stimulating the economy are not paying for themselves as promised. I would love to see them pay back even the 33% that the TARP-freddy/fannie is returning after just a single year.