Why the big three bailout is a BAD idea

[Da Klugs]

Originally Posted by Scottw

http://img369.imageshack.us/img369/6012/bailoutyk2.jpg

Nice.

I think we need to help try and save the Auto industry here in the US.

We being:

Consumers - We buy US cars .. because the bailout money should go as a tax credit or rebate check directly to the car buyer for cars sold by the big 3 that are assembled here on the next 10 million cars sold (around 2 years of historical sales). $ 10,000 per car on the first 2,500,000 sold, $ 7,500 per car on the next 2.5, $ 5000 on the next 2.5 and $ 2500 on the last $ 2.5. It's a fifty billion dollars and it goes to whoever buys the damn cars not the workers, executives etc. Direct benefit and 100% bang for the buck guaranteed.

Auto company workers - Everyone takes a % reduction in pay and benefits, workers, retirees, executives etc. Whatever the number is to make them competitive. Say 30%. If they say no friggin way... well then do it your way without any of the rest of our's money. The long term viability depends upon leveling the playing field with the competition. Otherwise this is just the first sip at the public trough.

Banks - Either loan money at reasonable rates to those that are credit worthy to buy cars, homes, etc. or we are taking our bailout money back.