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Thread: Why Should Everyone Else, APART from the People that caused this mess, Pay for it ?

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    Default Why Should Everyone Else, APART from the People that caused this mess, Pay for it ?

    After reading this site for the last few years, I have yet to find an honest answer to this question.

    Why are we crucifying ordinary people, and our country, to find billions of taxpayers money, to bail out reckless private Banks and SCAMA, and effectively paying off the gambling debts of extremely wealthy speculators for them ?
    Last edited by Luigi Vampa; 22nd October 2010 at 09:10 PM.

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    Politics.ie Member controller's Avatar
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    Easy..........if your friends and drinking buddies were making the rules, and if you were as corrupt as our lot........the rules would be made to facilitate you
    Dear Lord Baby Jesus, I want to thank you for Pink Floyd

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    Quote Originally Posted by Luigi Vampa View Post
    After reading this site for the last few years, I have yet to find an honest answer to this question.

    Why are we crucifying ordinary people and our country to find Billions of taxpayers money to pay bail out reckless private Banks and SCAMA, and effectively paying off the gambling debts of extremely wealthy speculators for them ?
    Fair play for trying to highlight injustice. I think you'll find that it is something to do with the nature of humanity. Our political systems are ran by people, and people are imperfect, (your good self excluded Vamp).

    In a more ideal world, the real poor would be excluded from paying the price for the excesses of their fellow citizens. Unfortunately the real poor live in the real world, which is imperfect, as explained above.

    There have been precedents set before for this, and it is interesting you use the term "crucifying"; since the most famous unjust crucifying incident, was of one, who was poor in spirit but could see God. His name was Jesus from a place called Nazareth, as far as I recall from my reading of history.

    We have to live with a system which lacks justice, but we also have an obligation to remedy this, in those small spaces which we ourselves occupy. The more light we provide, the less darkness there will be!

    As the saying goes; "it is better to light a candle, than to curse the darkness".

    Hope your post throws up some answers for you.

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    Politics.ie Member bormotello's Avatar
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    Of coarse not
    People who gained most must return everything back,
    Minimum pay, taxes, welfare rates and PS pay must go back to 2001, and everybody who owns NAMA and not paying debt must be jailed(difficult to achieve, because most of judges transferred their debts to NAMA)

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    Quote Originally Posted by Luigi Vampa View Post
    After reading this site for the last few years, I have yet to find an honest answer to this question.

    Why are we crucifying ordinary people and our country to find Billions of taxpayers money to pay bail out reckless private Banks and SCAMA, and effectively paying off the gambling debts of extremely wealthy speculators for them ?
    It's linked to moral, financial and political corruption, cowardice, deference and obedience. The same characteristics that predominated during the decades of unhindered clerical abuse.

    In place of the all-powerful church, we now have the all-powerful political and business elites with their willing knights and footsoldiers in the privately owned media. There's a few of those rotten 'journalists' in RTE too.

    This state is rotten to its very core, and our society is at death's door. We need to start again, from scratch.

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    Quote Originally Posted by Luigi Vampa View Post
    After reading this site for the last few years, I have yet to find an honest answer to this question.

    Why are we crucifying ordinary people and our country to find Billions of taxpayers money to pay bail out reckless private Banks and SCAMA, and effectively paying off the gambling debts of extremely wealthy speculators for them ?
    Because those charged with our welfare lead us to believe that if they didn't do it this way we are all



    The biggie of course being are we heading exactly that way now because of what they have done "in our interests"

    I'm inclined to go for the latter .........

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    Quote Originally Posted by Luigi Vampa View Post
    After reading this site for the last few years, I have yet to find an honest answer to this question.

    Why are we crucifying ordinary people and our country to find Billions of taxpayers money to pay bail out reckless private Banks and SCAMA, and effectively paying off the gambling debts of extremely wealthy speculators for them ?
    The alternative is not repaying deposit holders. So your granny loses her life savings. Plus if you think our bond yields are high now what would they be like if we implemented such a strategy.

    You do get that, don't you? Perhaps not.

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    Quote Originally Posted by Luigi Vampa View Post
    After reading this site for the last few years, I have yet to find an honest answer to this question.

    Why are we crucifying ordinary people and our country to find Billions of taxpayers money to pay bail out reckless private Banks and SCAMA, and effectively paying off the gambling debts of extremely wealthy speculators for them ?

    Because the budget cuts are not to bail out banks, they are because our tax revenue is about €30 billion, and we are spending about €50 billion.

    The €20 billion we have to borrow every year is needed to pay public service pay and social welfare benefits, both of which were increased dramatically during the boom because of the extra tax revenue flowing into the exchequer.

    This led the government to reduce incomes taxes and depend on the property and banking sector for revenue. These sources have now dried up; hence the shortfall.

    If you call welfare recipients, pensioners, public sector workers and even private sector workers "ordinary people", they all benefited from the boom through lower taxes and higher pay rates.

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    Quote Originally Posted by conservative green View Post
    The alternative is not repaying deposit holders. So your granny loses her life savings. Plus if you think our bond yields are high now what would they be like if we implemented such a strategy.

    You do get that, don't you? Perhaps not.
    You do get that they only had to protect ordinary deposit accounts and small business accounts. You do get that they didn’t have to nationalise the golden sectors speculation debts ? You do get that dont you ? Perhaps not.

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    Quote Originally Posted by Odyessus View Post
    Because the budget cuts are not to bail out banks, they are because our tax revenue is about 30 billion, and we are spending about 50 billion.

    The 20 billion we have to borrow every year is needed to pay public service pay and social welfare benefits, both of which were increased dramatically during the boom because of the extra tax revenue flowing into the exchequer.

    This led the government to reduce incomes taxes and depend on the property and banking sector for revenue. These sources have now dried up; hence the shortfall.

    If you call welfare recipients, pensioners, public sector workers and even private sector workers "ordinary people", they all benefited from the boom through lower taxes and higher pay rates.
    But yet we could afford to nationalise 100 billion of golden circle speculators debts ?

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