OK here's where I start judging when it comes to the current economy

[derketchup]

Bloomberg.com: Worldwide

So we give Goldman Sachs $10 billion dollars... and they move their crap "offshore" and reduce their taxes 33.1%... which means their estimated tax payment for this year will be $14 million.

[mama22qts]

I was opposed to the bailout then, and I'm still opposed to any bailout now. They should have never been given the money to begin with. Saying that 'it could have been a lot worse' is a bunch of bunk.

They shouldn't have been bailed out; they probably would have been gone by now, and we'd be dealing with the aftermath, starting over.

My chief worry at this point is that we are paying out stupid ridiculous amounts of money AND we will be raising taxes on these corporations in the not too distant future so we will see LOTS more of this moving off shore and hiding from the tax man.

I said it before and I'll say it again -- those with means will find a way to NOT pay the higher taxes. Those without means will not. And that's us.

[nateNnatsmommy]

I so wanted to blame it on you, Der....but there's enough blaming going on already :)

[tacatcon]

Unfortunately it doesn't surprise me. The people running our government-maybe not always the brightest bulbs. People in corporate America and banking, usually smarter and sneakier. You would have thought the government would have taken steps to make sure this was addressed before the bail out. I'm not sure they could have legally prevented them from moving offshore but they should have at least predicted this could have happened and said no money.

It's like a person going down to the welfare office and getting help based on lack of income and then working under the table so Uncle Sam can't see it.

Really sad that this is the state we are in.

[kathkeane]

We are sunk. Plant a garden. Stock up on foods and meds. Learn a trade. Learn a foreign language. Invest in yourself-the only safe investment. Pay off every debt you have as soon as you possibly can. Move to a warmer climate if possible. Companies are moving their headquarters to United Emirates since last year. People knew what was going on at Wall Street long ago, since Enron. Watch for an Amero dollar from Mexico, U.S. and Canada....it is coming. Critical times we live in. The answer is personal integrity.

[mama22qts]

So tempting to bury our heads in the sand but please don't -- you will not be prepared for what comes your way.

[Amniculus]

I've had one economics class. I'm a high school drop out. My economics class was Micro.

In the future, I'd like both macro and micro economics required for graduation at the high school level and the college level.

They are getting away with it, because I don't have a clue what's going on. I know the problems facing us, but I honestly don't know enough to analyze the information. I don't know. We bailed out the banks, so they would lend money to business so they could make payroll. But, BoA denied a loan to a company and that companies employees locked themselves in the building waiting for the last pay check.

I don't know enough to feel comfortable to call my reps, to let them know how I feel.

But hiding money overseas is naughty.

[skimo]

Unfortunately it doesn't surprise me. The people running our government-maybe not always the brightest bulbs. People in corporate America and banking, usually smarter and sneakier. You would have thought the government would have taken steps to make sure this was addressed before the bail out. I'm not sure they could have legally prevented them from moving offshore but they should have at least predicted this could have happened and said no money.

It's like a person going down to the welfare office and getting help based on lack of income and then working under the table so Uncle Sam can't see it.

Really sad that this is the state we are in.

Ditto! I'm not close enough to all this to know, but it *seems* like stipulations would have been imposed to prevent this...

[CoffeeMom]

Ugh...it's getting disgusting.

It's times like these when I'm so glad DH, the kids and I hold dual citizenship...

[mama22qts]

Ditto! I'm not close enough to all this to know, but it *seems* like stipulations would have been imposed to prevent this...

Oh you must be joking!! You really think OUR government could have seen that coming??

The sky was falling! We were headed for the biggest depression ever in the history of, well, the whole history!! The world was coming to an end! The ONLY way to save humankind as we know it is to open our wallets and allow EVERYONE to pillage to their heart's content! Remember how hated the representatives were that wouldn't vote for that mess? I don't care what party you're in -- everyone who voted against that was villified.