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News-Sentinel.com Your Town. Your Voice.
Opening Arguments

Please help me

Before you dismiss this as another crazy idea from a big-government loony, think about what it could mean to you:

Housing experts painted a grim picture of Los Angeles' real-estate market Tuesday as City Councilman Richard Alarcon called for city, state and federal funds to help bail out city homeowners who can't pay their mortgages.

Warning that the region is embroiled in a foreclosure upheaval, Alarcon said he's also considering asking lawmakers to declare a state of emergency to direct state and federal money to counseling and loans for people about to lose their homes.

If this catches on, I see many opportunities. I am tired of being on the giving end of the growing transfer-of-wealth business, which has become the chief function of government. I want to receive for a change, starting with my mortgage. As it happens, I just paid off my car, but if I know the government will bail me out, I can buy a much nicer replacement. I don't require all of my utilities to be taken care of, but a little help would be nice. My cell phone and cable and Internet bills are getting way out of hand, and then there are the credit card bills

Wait a minute. There is this little, quiet voice in my head saying, "Risk. Reward. Responsbility." Shut up, little, quiet voice!


Bob G.
Thu, 08/23/2007 - 8:59am

Funny thing about that...MY "little, quiet" voice is more like Sam Kinison from the movie BACK TO SCHOOL.

But that's just me.



A J Bogle
Thu, 08/23/2007 - 9:49am

On the giving end of the wealth transfer allright, but not in the direction you are thinking Leo - the shift in wealth has been going from the middle class to the upper class.

Bob G.
Fri, 08/24/2007 - 11:04am

All I know AJ, is that my "shift" in MY wealth (what little of it there is) is going AWAY from me...quite quickly I might add.

And that's all I *need* to know.



Sun, 08/26/2007 - 4:25pm

Ummmm ... If the government could guarantee that everyone else would keep on working, this whole transfer-the-wealth-to-me idea could work.

I could spend more time doing the things I like, instead of working and paying bills. I estimate this would give me at least 40 to 50 extra hours a week.

I smell a new Constitutional right just waiting to be discovered.

tim zank
Mon, 08/27/2007 - 7:04pm

AJ, how in the world can you assume the shift in wealth is going from the middle class to to the wealthy? I pay enormous taxes for cigarettes, to pay for poor peoples health insurance, the proceeds go to my government. I pay enormous taxes on fuel/gasoline and the proceeds go to whom? My government. I pay a 6% sales tax on everything I buy, and the proceeds go to whom? My government. I pay taxes on rental cars, hotel rooms, meals in certain cities (think ft wayne) taxes on cab fairs, taxes on top of the taxes. I pay $6000 a year in property taxes , it goes to my government. I pay thousands of dollars a year in federal income taxes, hundreds instate taxes, and a few hundred in county taxes. It goes to my government. I pay thousands more into social security/fica knowing full well it's not going to rich people, it's all going to poor people. I give thousands more per year through my church, it is dispersed to people in need. I wish to f&%# I was rich, that was the idea, but I'm so busy paying taxes on every damn other thing, It'll take until I'm almost dead. Then the damn death taxes will snatch it from my kids.....


A J Bogle
Mon, 08/27/2007 - 7:32pm

Easy to say that. Real adjusted for inflation income for those in the upper 2% has grown over 26% in the lat 7 years, whereas the middle class real adjusted for inflation wages have stagneate or even decline 1.6% during the same period. Those living below the poverty line have also increased.

Check out the Bureau of labor statistics and the US census bureau if you don't believe me. The rich are getting richer while the rest of us stay flat or fall behind.

And don't get me started on all the loopholes and tax evasions rich e that can afford the fancy lawyers and accountants to get out of paying their fair share - "s the wealthy benefit more from the privileges of a free society - they therefore have a greater responsibility to pay for it"- Theodore Roosevelt

This has been the greatest upward shift of wealth since the robber baron era at the trun of the last century. isn't that what your precious "supply side" economics is supposed to be all about?