Dave Ramsey's plan instead of bailout

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Sent a message to all my friends about it yesterday. Dave really makes sense. I heard him this am on the radio - he had 200,000 downloads yesterday!

Tried to send a message to my house rep and senators. "Due to unusually hi email volume" I couldn't get thru. They also do not allow you to email them personally, but you have to use the service thru their web site.
CROCK
 
Excellent.

V
 
I was just listening to what all is included in the bailout bill. It is now up to 421 pages.
and we will be funding stuff like Wool research!

pass the pork...
 
even Mikey is impressed...way too simple for politicians to grasp, and I would strrongly urge ALL Americans to get ON the bandwagon AND get this proposal sent into your reps RIGHT NOW, NOT tomorrow, RIGHT NOW!!
Some of your WORST politicians currently occupy the houses, and MUST be forewarned that their jobs are in danger should they adopt this strategy of spending the earnings of much future generations!!
We "tried" this method in Canada, 30 years ago, and the pain and anxiety was NOT worth the long term pain!!
Think your politicians will "listen""??:wallhead::wallhead:
 
On the surface the plan makes sense and it has merits on certain points. But the idea of reworking mortgages at fixed interest rates and rewriting the owed amounts makes sense in solving todays crisis, but what will it do in the future.

Investors will not forget the fact that when they buy a fixed security, like a mortgage, they have no guarantee that the amount they are borrowing will be the amount that is repaid. They will be forced into accepting a higher level of risk. They will want to be compensated for that future risk and so mortgage rates would be most likely much higher..

Those higher interest rates for mortgages will have the effect of pricing future people out of the market and make existing homes bring less in the sale price because of the buyers not being able to get a low rate of interest and therefore a reasonable payment. No lender is willing to commit to a 30year loan, not knowing if the amount they borrow out will ever be repaid and they will remember that it was the government that allow the terms of the notes to be changed.
 
Dave Ramsey is all about getting out of debt. I know that individuals can become debt-free by following his guidelines. I couldn't hurt the government to listen to him.
 
Dave has helped LOTS of people get out of debt....obviously he's doing something right! I have forwarded this to EVERYONE in my address book. I've gotten so many writing back giving kudos about it.
 
Joan I dunno...it opens for me...do you have the latest version of adobe acrobat reader? maybe that's it?? not sure....
 
I bounced it off hubby (former stock broker, finance guy). This financial stuff just flies right over my head. Here's what he had to say:

I like it...........I had much the same idea, although not as well thought out....or presented.

I DO NOT like one part of it: I think removing the Capital Gains Tax would benefit Wall Street far, far more than the guy on the street. Most stockholders own stocks in Mutual funds inside IRA's and 401K retirement plans......these accounts are already tax advantaged......and they are long term investments. Wealthy stock "traders" would benefit most from removing Capital Gains. Removing Capital Gains Taxes treats investment earnings better than other earnings......wages from jobs! Why? All earnings should be treated the same. The guy working for a living should not have to subsidize Wall Street stock traders.
 
Beth said:
All earnings should be treated the same. The guy working for a living should not have to subsidize Wall Street stock traders.[/I]
Click to expand...

It seems that you have married a guy with wisdom.
 
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