Comments on: How much does the $25,000,000,000 bailout of Detroit cost? http://www.tdaxp.com/archive/2008/11/15/how-much-does-the-25000000000-bailout-of-detroit-cost.html High-minded, fanatically malthusian perspectives Thu, 09 Feb 2012 19:18:06 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: tdaxp » Blog Archive » Protectionism and the Detroit Bailout http://www.tdaxp.com/archive/2008/11/15/how-much-does-the-25000000000-bailout-of-detroit-cost.html/comment-page-1#comment-167273 tdaxp » Blog Archive » Protectionism and the Detroit Bailout Wed, 19 Nov 2008 16:50:55 +0000 http://www.tdaxp.com/?p=6427#comment-167273 [...] How much does the $25,000,000,000 bailout of Detroit cost? [...] [...] How much does the $25,000,000,000 bailout of Detroit cost? [...]

]]> By: tdaxp » Blog Archive » Militant Protectionism http://www.tdaxp.com/archive/2008/11/15/how-much-does-the-25000000000-bailout-of-detroit-cost.html/comment-page-1#comment-165551 tdaxp » Blog Archive » Militant Protectionism Mon, 17 Nov 2008 16:00:17 +0000 http://www.tdaxp.com/?p=6427#comment-165551 [...] How much does the $25,000,000,000 bailout of Detroit cost? [...] [...] How much does the $25,000,000,000 bailout of Detroit cost? [...]

]]> By: tdaxp http://www.tdaxp.com/archive/2008/11/15/how-much-does-the-25000000000-bailout-of-detroit-cost.html/comment-page-1#comment-164764 tdaxp Sun, 16 Nov 2008 17:30:27 +0000 http://www.tdaxp.com/?p=6427#comment-164764 The opening of this story from the <i>Detroit Free Press</i> [1] is illustrative of the hidebound, old-fashioned, non-innovative, legacy aspect of GM and the UAW: <blockquote>Kandy O'Neill is a fifth-generation General Motors Corp. worker whose great-grandmother worked in the factories during World War II. Advertisement When asked last week if she and other UAW members should sacrifice more now to save GM from bankruptcy, she has a simple answer: No.</blockquote> Ffifth-generation industrial jobs? Irresponsible contracting? Claims to what the company did in World War II? Let's hope Bush and the Senate GOP can stand firm enough to make sure no bailout becomes law [2]... <blockquote>WASHINGTON (AP) — Top Republican senators said Sunday they will oppose a Democratic plan to bail out Detroit automakers, calling the U.S. industry a "dinosaur" whose "day of reckoning" is coming. Their opposition serious raises doubts about whether the plan will pass in this week's postelection session.</blockquote> Brent, you're exactly right, we need to invest in the future, not the past. [1] http://www.freep.com/article/20081116/BUSINESS01/811160362/1014 [2] http://www.google.com/hostednews/ap/article/ALeqM5gA2mr12dJLiWM1QN59MYfpM9OQfwD94G51H01 The opening of this story from the Detroit Free Press [1] is illustrative of the hidebound, old-fashioned, non-innovative, legacy aspect of GM and the UAW:

Kandy O’Neill is a fifth-generation General Motors Corp. worker whose great-grandmother worked in the factories during World War II.
Advertisement

When asked last week if she and other UAW members should sacrifice more now to save GM from bankruptcy, she has a simple answer: No.

Ffifth-generation industrial jobs? Irresponsible contracting? Claims to what the company did in World War II?

Let’s hope Bush and the Senate GOP can stand firm enough to make sure no bailout becomes law [2]…

WASHINGTON (AP) — Top Republican senators said Sunday they will oppose a Democratic plan to bail out Detroit automakers, calling the U.S. industry a “dinosaur” whose “day of reckoning” is coming. Their opposition serious raises doubts about whether the plan will pass in this week’s postelection session.

Brent, you’re exactly right, we need to invest in the future, not the past.

[1] http://www.freep.com/article/20081116/BUSINESS01/811160362/1014
[2] http://www.google.com/hostednews/ap/article/ALeqM5gA2mr12dJLiWM1QN59MYfpM9OQfwD94G51H01

]]> By: Brent Grace http://www.tdaxp.com/archive/2008/11/15/how-much-does-the-25000000000-bailout-of-detroit-cost.html/comment-page-1#comment-164282 Brent Grace Sun, 16 Nov 2008 04:45:03 +0000 http://www.tdaxp.com/?p=6427#comment-164282 Indeed, a better bailout strategy would be to subsidize a mass movement towards next generation vehicles, either plug-ins, all electric, flex fuel or some combination. I think the best way to handle it would be to set massive refundable tax credits valid during 24-36 month window. This would stimulate both manufacturing and sales (I think the salesmen and other employees of the dealerships are overlooked in the discussion of bailing out "Detroit"). After that 2-3 year window closes, we should pay ourselves back for the cost of the "bailout" by raising gas taxes to two dollars a gallon. This would help assure that, as the Core emerges from the recession, we will leave certain petrol states (Russia, Iran, Venezuela) to reap what they have sowed. Indeed, a better bailout strategy would be to subsidize a mass movement towards next generation vehicles, either plug-ins, all electric, flex fuel or some combination. I think the best way to handle it would be to set massive refundable tax credits valid during 24-36 month window. This would stimulate both manufacturing and sales (I think the salesmen and other employees of the dealerships are overlooked in the discussion of bailing out “Detroit”). After that 2-3 year window closes, we should pay ourselves back for the cost of the “bailout” by raising gas taxes to two dollars a gallon.

This would help assure that, as the Core emerges from the recession, we will leave certain petrol states (Russia, Iran, Venezuela) to reap what they have sowed.

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