Deseret News | Throwing cash at everyone won't help much

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Throwing cash at everyone won't help much

Share the wealth | 6:18 a.m. Nov. 23, 2008

That is exactly why Socialism doesn't work. To Share the wealth only debases us all. To be frugal is to lose the reason for being frugal..to work hard so someone else can share your bounty..to reward sloth and inefficiency destroys any incentive to better oneself.

Ultra Bob | 7:17 a.m. Nov. 23, 2008

The alternative is of course, throwing the money at the rich Capitalists like the car company CEOï¿½s and the failing banks and insurance companies. The story given us with the alternative is that the rich Capitalist will use the money to create jobs thus helping the ordinary people. It just ainï¿½t so. The reason the car companies are having trouble is not that they donï¿½t have money, itï¿½s that they donï¿½t have the right product for the market. Given all the money we can, the car companies will still shut down their factories because they canï¿½t sell their product. And when the car companies fail they will drag down millions of other workers.

If you give the bailout to ordinary people, they will spend it. The car companies can shut down but it wonï¿½t hurt anyone because the laid off workers will still have incomes in which to support themselves and the other parts of the economy. The worker/consumers will decide who gets to stay in business and who fails by the proper working of the market economy.

Ultra bob | 7:18 a.m. Nov. 23, 2008

Giving the bailout to ordinary people in a right now lump sum would probably have the bad effect that you mentioned. If the bailout were given in the form of a continuous reward for productivity that gradually goes away, people would be able to adjust to living on their own without a sudden disaster.

HELP THE PEOPLE

Comments continue below

Anonymous | 7:46 a.m. Nov. 23, 2008

Yes giving our money to banks so they can hoard it is just fine, but giving our money to us so that we can pay the banks what we owe is not? How about direct deposit, if we common people are so bad with our money, we can have our money (bailout checks) go directly to our creditors. Those who have no debt, are arguably good with their money and they get cash. Socialism only for the wealthy is insanely bad policy.

RedShirt | 8:25 a.m. Nov. 23, 2008

To "Ultra Bob | 7:17 a.m." you are wrong, the alternative is to NOT throw cash at anybody. That is the best solution. I causes the business with bad plans to die so that better businesses with better plans can become the new leaders.

Dave | 9:07 a.m. Nov. 23, 2008

The fed gov is extremely inificiant. In order to give you 1 dollar, they have to collect 3 dollars in taxes of you. That is why cutting tax rates is the most senseable thing to do.

Davs | 9:35 a.m. Nov. 23, 2008

It would sure help me. Pay off the mortgage, be free and clear of the monthly burden. Put the rest in the bank and improve the place over the next year or so. All would benefit by first giving money to those current on mortgages and only after all of them have had a chance then dealing with the gamblers who signed paperwork that got them in over their head.
The money will be spent as needed, not given to fat cats who will always cry they didnt' get enough. Their more, more, more greedy attitude is what got them into the mess. Don't reward them.

red state pride | 11:09 a.m. Nov. 23, 2008

If the Federal Government is going to give a loan to the Big 3 automakers then first they have to borrow that money from China, South Korea, SAudi Arabia et al. Why don't we cut out the middle man and just let GM or Ford get a loan from the Chinese?
Posters: there's a big difference between the Fed loaning to a bank and sending a direct check to US Citizens or an Automaker. We have to have solvent banks or the whole economy breaks down. It's kind of like the power company- it cannot fail. Automakers ,on the other hand, can fail and it will affect us but it's not going to end our whole way of life.

Kathryn | 12:11 p.m. Nov. 23, 2008

Socialist-style extravagant union contracts are a major factor with the failing U.S. car companies. These unions are bleeding the companies dry.The automakers are having to pay current and former employees who are NOT working.

What is happening with the automakers & their unions is a microcosm of what more socialist policies do to an entire country. Look at Europe.

Conservatives may be in the minority now in government but we have to demand that Congressional Republicans stand firmly between us and the destruction that is socialism, in all its forms and degrees.

Google "we-demand-true-conservative-leadership" and sign the petition.

Ultra Bob | 2:07 p.m. Nov. 23, 2008

Could it be that there is a vast Republican conspiracy to punish the American people for electing a Democratic government? During the Bush government years, there was constant criticism from the Republicans that the Democrats were promoting, and praying for financial failure of the Republican government. Now it is the Republicans turn to promote and pray for financial ruin, only they are much better at it than the Democrats. And they have the next two months with which to carry out their plans.

I think that there are many Republicans like Kathryn who would rather have America fail totally than to allow America to be Liberal, Democratic, with even the tiniest bit of Socialism. Her petition to demand conservative government is fine, only how does people go about having a conservative government? A few years ago we elected a God fearing Conservative government (we thought) only when they got in they reverted to greedy capitalists like they always do. I there a time in our history when we had a Conservative Government?

Not even in the Reagan government did we have a truly Conservative Government.

Michelle LaPlante | 3:57 p.m. Nov. 23, 2008

Jackie (powerball winner) is not poor, so part of your article is inaccurate. Please remember to be thoroughly accurate in future articles. Thanks!

European | 6:24 p.m. Nov. 23, 2008

Oh goodness gracious. Now Europe gets dragged into the socialist club.

More labels......Europe has the same problems that we do.......they just have a safety net for their people.

Manufacturing jobs going to former east bloc countries to take advantage of cheap labor..chinese imports.... but thet have universal health care.....the unemployed get retrained...the poor are housed...... They take care of their people.
Slap any ism on it that pleases you but at least their Managed economy doesn't throw workers out with the trash to fend for themselves.

RE: European | 7:29 p.m. Nov. 23, 2008

Amen! For years I considered myself a die-hard capitalist and "conservative." As life has gone by, I have decided that I don't mind trying to create a sustainable community. I nearly lost a wife and baby in an emergency childbirth. I had insurance at the time, but it wasn't about to cover most of the costs. I was facing years of debt as a new father who had just started a family. Fortunately, we qualified for one of those evil, socialistic government medical programs, and we were able to soon pay of the greatly reduced debt. I changed my tune once I saw how quickly misfortune could strike. Under the proper management and close scrutiny, a little "socialism" might be a very good thing. A society that shows utter disdain for the welfare of its people becomes a society where it is dog-eats-dog, the strong/wealthy exploit the weak/worker, and the thirst for dollars and power create monsters out of otherwise honorable men. But we don't see any of that around here.....

Jason Berntson | 7:08 a.m. Nov. 24, 2008

Yes, finally an editorial that gets it right! I consider myself firmly liberal, but we have to allow the free market to work. Giving a blank check to the auto companies is not a good solution to the problem. It will likely just delay the inevitable and even if incentives are set they're very unlikely to turn the business around. Hundreds of thousands of jobs are likely to be lost anyway, but if we prevent the companies from failing it will just result in a status quo of continued uncertainty and will be an ultimate waste of taxpayers' money.

Companies fail. People get new jobs. Companies that produce better products ultimately take over. It's the way that the world works and the way it should work. I just don't see how bailing out the auto companies will fix anything, it will just make things worse. As someone mentioned, bailing out the banks is necessary as people's money are stored in banks, and power and gas companies, and other basic service companies, also cannot fail. But the economy will recover if the auto companies fail, and if we do bail them out, it will only delay the inevitable.

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