New Reason to Raise Taxes on the Rich: ‘Patriotism’

Originally Posted by August

Sorry to cut off the rest of your post but it is based on a flawed premise. The Administration does not decide any of this. They can propose things but it is Congress that provides bailouts (or not). Congress is controlled by the Democrats and has been for the last 2 years.

Who was in charge of Congress when the earlier bailouts were proposed?
Who proposed them?
Who approved them?

We must be in different worlds:

http://money.cnn.com/2008/09/19/news...ion=2008091910

NEW YORK (CNNMoney.com) -- President Bush and Treasury Secretary Henry Paulson on Friday outlined a series of far-reaching steps - likely to cost hundreds of billions of dollars - aimed at stemming a widening financial crisis that is roiling the financial markets and undermining confidence in the banking system.

"We must act now to protect our nation's economic health from serious risk," Bush said at a White House press conference. "There will be ample opportunity to discuss the origins of this problems. Now is the time to solve it."

"This is no time for partisanship," Bush added. "We need to move urgently needed legislation as quickly as possible without adding controversial provisions that could delay action."

Now, I could be wrong here, but unless Bush changed parties recently, that's the Republicans running this show.

Hate to say it, but this will leave the government with a HUGE debit.
Worth it? Some say yes, the alternative would have been worse.
Probably.

But the better solution would have been for better regulation to PREVENT this in the first place.

"An ounce of prevention...." as it were.