Finance Questions

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Question: Our tax dollars have bailed out the Auto & Finance Corporations. Shouldnt this make us STOCK HOLDERS?

The leaders of our Country have used our TAX Dollars to Help the few...AGAIN. Shouldnt this mean that we have Paid our debts and Mortages, Loans and Financed Property OFF, Because these Corporations are recieving a break, PAID IN FULL. Shouldnt our loans be PAID IN FULL?

Answer: At first, I thought the same way - that the bailout only helped the few. Then our local paper did a story about how much of our local economy was based on the auto industry, even though we are several states away from Detroit. Interestingly, about 15% of our tax base was dependent on the automakers (dealer taxes, income taxes, new car taxes, wage taxes by employees of dealerships, auto transportation, etc.). If the auto industry crashed, our local economy would also crash since it's on the edge right now too.

I'm still not sure whether the bailout plan has enough controls in it and will keep the auto industry afloat, but it will keep it going long enough to keep our local economy afloat for the next few months...and hopefully by then the economy will be stronger or our local government will have made adjustments to stay afloat too.

I'd rather have our tax dollars used to keep jobs and industry in America, than for loans or bailouts to other countries or pork barrel projects with even more limited benefits to Americans.

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