(Socialism refers to a broad array of ideologies and political movements with the goal of a socio-economic system in which property and the distribution of wealth are subject to control by the community or state).
Wednesday, September 17, 2008
Should we be bailing out private companies like AIG and Freddie Mac?
The market is down another 450 points today. Is it really our responsibility to bail out private companies like AIG in the tune of 85 BILLION dollars? What is causing all of this? The Real Culprits in this Meltdown is the title of a very interesting article I read in the Investors Business Daily. It is a short article but worth reading. Will raising taxes on the rich really fix all of this? Then again who is rich? What is that magic number? Is it a yearly income of 45K, 100K, 250K, who decides? This sounds like a movie I once saw called Robin Hood. Lets take from the wealthy and give even more to those less fortunate until everyone is equal. Then again I think that was a term I heard in 9th grade history called, socialism.
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2 comments:
From what I've been reading lately, this all started when Clinton signed legislation in order for low income people to be able to own their own homes. Even though banks and mortgage lenders KNEW that these were very high risk loans, they had no choice - it was now the LAW. It has just spiraled out of control and into the mess we now have.
VOTE McCAIN/PALIN!
Burning Down The House: What Caused Our Economic Crisis?
A must watch video. Pass along...
There are 2 links here as I've seen this video pulled already from some links.
http://www.youtube.com/themouthpeace
http://www.youtube.com/watch?v=1RZVw3no2A4&feature=iv&annotation_id=event_597487
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