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Dave Ramsey’s Plan

Dave Ramsey suggests a pretty simple three point plan to as an alternative to the $700 B bailout.

If this link does not work just go to daveramsey.com.

It involves insurance on re set mortgages, eliminating capital gains tax, and eliminating mark to market accounitng on tier three sub prime mortgages.  Gee how about we try that between now and the end of the year, sounds a lot cheaper to me.  Of course, Congress is not considering any of these things, particularly repealing the capital gains tax. Nothing would get transactions going faster than that.  Dave says his phone lines are flooded, so does Congrees, so why aren't they reacting to what the voters want?  I am reading that Paulson simply picked the &700 B number out of the air, ie, there is no audit trail that supports the number. 

I am as wary of the govt and the need for an 'iinstant fix' after the Iraq fix as anyone. I wonder if the stock market is recovering because the bill failed or because it might not.

Your take?

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3 responses to “Dave Ramsey’s Plan”

  1. Yovela Rico Avatar
    Yovela Rico

    I think it is recoverign because the bill failed. Investors are seeing the opportunity in buying cheap stocks. What-a-Deal. I wish I had some extra cash to invest right now. I think everyone has lost complete confidence in the Bush gang and are tired of the “Bright Ideas” that have come out of his office. This shouldn’t be a quick fix. It should be a well thought out process and the audit trail should be nice and lengthy as to avoid any hiccups along the way.

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  2. Cresencio Davila Avatar
    Cresencio Davila

    the 700B bailout really bothers me but the earmarks included in the bill – i consider a slap in the face from our lawmakers. Average Americans could only wish to receive such a sweet deal for our mismanagement and misfortunes with our own personal finances. I believe that something needs to be done – but to the extent that we are rushing for a quick fix solution for a problem that festered for many years is unwise.

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  3. Dennis Elam Avatar
    Dennis Elam

    We are getting closer to some sort of short term market bottom, but honestly if you told me how the vote would turn out I could not immediately predict the market reaction.
    congress seesm determined to dismiss Dave and the public on this one.

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