So, the governmental bailout program failed. Inbetween all the polititions here calling each other names, they accused the American people for being idoits and stated we need to stop calling our congressmen.
Okay, maybe they didn't directly say it, but this is an honest to goodness chain of logic as to why cnbc thinks that the bailout needs to pass.
1) No bailout will cause more forclosures (...)
2) More forclosures will drive down the property values of neighborhoods (True. Houses are appraised at the value the average home of equal construction is sold in the neighborhood.)
3) The lower property values will lower the tax base of local governments (True. Taxes are based on the value of the properties.)
4) Lower taxs will require the government to raise taxes or cut services. (Also true.)
So, In conclusion, if the bailout doesn't pass, the americans will have higher taxes!
To see where the logic fails, I will pull another conclusion out of this...
If the taxes you pay lower, the government is going to have to raise your taxes!
Stupid Americans, You better stop calling your congressmen on this, OR ELSE YOUR TAXES WILL GO UP (after going down. Oops, don't look at this, it doesn't give the right point!)
But what do I know, I actually think a big, bad economic collapse is nessessary for America. Silly Boat. Go away!
Who builds boats out of Granite anyway? Honestly!