My unconventional view on this, as unnoticed as it might be, are the following: Vermont should forget taxing the wealthy, forget cutting state spending or services, and by all means forget being bailed out by the FED. Our Debt is Peanuts, YES One Hundred and Fifty Million Dollars is peanuts! Who are they kidding look at the numbers in the bailouts.
What we are witnessing is the product of private corporate losses being socialized and the subsequent BIG profits they made from these loans being kept private.
This is a complex skimming of Our Common Wealth by the wealthiest of the wealthy. It is time we took a good look in the mirror and asked ourselves if we will except the New US Paradigm of AUSTERITY. You are Somebody and you CAN make a difference! Stand UP!
If Vermont really cared about us; our Judiciary or a specially appointed committee would get “The Books” on The Bailouts, treating each corporation individually. For each bailed-out corporation, add their bailouts (if more than one) and apply the lowest interest-rate that that corporation gives out loans at, to their own bailout sum, for the time it takes (or has taken) them to pay their bailout loan off. This number is the interest-owed by the individual corporation. Add all the bailed-out corporations individual interests-owed and divide this Total by the USA’s population and then multiply it by Vermont’s population and you get our state’s proper reimbursement. Is this not fair to them and us? They still got their corporation!
These corporations that should have been belly up if it weren’t for us, made record profits, while we struggled to get by. What did they do with these profits, many thing, paying executive bonuses in the millions, paying hundreds of millions of dollars to lobby congress to protect their interests, among other dubious uses.
The only real and fair solution to our mess is for Our State and others alike to bring this to the Supreme Court. Is this not why we have a State Government, to stand up in protection of our interests? We are in this mess because of corporate irresponsibility. We must press them to take the responsibility that is rightfully theirs. No amount of new regulations will ever give us back the social and economic stability that has been stripped from us and our future generations. We are NOT Corporate Collateral Damage and it is time we stopped acting like it!