For this week's question cycle you may read letters from any of the blogs. Be sure to include the class along with the name of the author you are questioning. Ask tough questions of the letters, they're going to the President and they are about your financial future therefor they have to be sharp.
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23 comments:
Rinaldi: 702
Did you really want car companies to start to make solar powered cars at this point during our economic crisis? The money for solar powered items cost enough already and America cannot afford to pay for anymore expensive things as it is. We need to put money towards or debts to other countries and having solar technology cannot help us with the economy at this point in time.
Mohamaid Elsaid 723, you wrote in your letter to the presidant that he should bail out the auto makers; but you do not give a reason. Why shouldn’t we let the auto making industries file for Bankruptcy? The CEOs of these companies stated that they would make more energy efficient cars, but the cars they make do not lure buyers for they are to expensive. The cheapest car I found when reaserching was 25, 480 dollars. The Honda Civic, 2008 model. The more money These companies get, the more customized and flashy each hybrid car will be, making them more expensive. These automaking CEOs stated in a press conference that they would go to their meetings in a mini-vann in order to get the bail out. But this only happened after they were critisized for going their in a separate private jet for each person. The less money they have, the less expensive our cars will be. We just have to figure out a way to keep our economy thriving without giving billions of dollars in bailouts.
Rinaldi: 702
Do you really think Obama should come up with a proposal for start making our own materials, solar powered cars, and tax people who are in a higher class than other citizens? Due to the fact that our country is in an economic crisis, I don't think that we have the money to publish these kind of proposals. Even if the proposals were to pass on, how will solared power cars help our economic? I mean I can understand how solar powered cars can reduce pollution, but how will it help the economic? Taxing the people who are in a higher class than others might sound like a good idea, but under that, it will be unfair to those citizens.
As Adam from class 723 stated in his blog that, Obama will expand government guarantees to automakers, and more. My question to Adam would be, do you think we give the government more power to control the economy than we should? And what if the government abuses their power, for example, before Obama was elected a president, government was able to increase and decrease interest rate, which significantly affected the economy. Do you think we need some kind of rules to be in place to stop the government from abusing their power? If so, what kind of rules do you think we need to avoid this problem if it happens?
To Rinaldi of class:702
Why should our goverment tax the richer people? Most of these rich people went to school, got degrees, and started businesses. Also why should we start driving cars using solar power? It is a great idea but most people will disagree. What is going to happen to the people who need to go to work at night. Like Niara said it is also expensive and what are we going to do with all these cars that run on gasoline?
Rinaldi Wasemback of class 702 stated a few proposals he thought President Elect Barack Obama should consider putting thought into. He thinks that America should start making their own products and materials. He thinks car companies should start making cars that run on solar energy and the government should tax people that are rich. He also thinks that Obama should make a peace treaty with Iraq to save America from even more debt.
My question to him is "How would America save money from making our own products?" When we make products in other countries that have a lower value of currency than us, we save money. For example, China has a lower value of currency than us. So when we make our products there, we are saving money. You see, our money has more of a value there.
Mohammed Elsaid 723
You send that if we ask China to loan money for goods, how are we gonna give China goods if that includes wasteing money? Then after that, we will have to owe more money. Lending after that, it will be a even bigger crisis.
Victor Yu of class 723, you state that President-elect Obama should make a loaning service that helps people that are in debt. You also state that the money from the loans would be paid back with half of the borrower’s income and half from the government. Do you really think that this will work? A lot of people in the U.S. are in debt because they couldn’t pay off their loans. Therefore, these people may fall even deeper into debt if they can’t pay off their new loans (these loans). Also, some people are in debt because they don’t have jobs. How do you expect them to pay off the loans you are suggesting if they don’t have income?
Rinaldi from class 702 suggests Obama that we should get solar paneled cars to help our economic crisis. Solar panel cars are a great dea to prevent pollution. But how will this help the economic crisis? Also, if solar paneled cars could help our economic crisis, where would we get the money?
Rebecca Kwong, 727
I agree that taxes should be lowered, but freezing consumer spending would plunge the economy into an even worse situation. This economy strongly relies on supply and demand. When the demand is high, prices go up. Like with gas. However, when the demand is low, prices plummet. If we were to kill consumer spending, that would be a one-way ticket to deflation, when everything is too cheap. Then, America would stock up on items. Later, the supply would soar, but the demand would drop and prices fall again until they are almost at zilch. While taxes are high, we need them to balance out the economy, even if we’d all like them lower. So, my question to you is: how could Obama lower taxes without eventual deflation? Also, I think that you buy into the misconception that all taxes are bad. What if we spend our taxes on big money projects that would provide jobs and put money into our pockets?
Maina Chen from 727,
You state in your letter to president-elect Obama that “your idea to give a $3,000 tax credit for every new person they hire. There are some people who will move from one job to another, just to get those $3,000 worth of tax credit.” I think you misunderstood this statement. Why are the employees going to move from one job to another? According to Mr. Obama ‘s proposal, the $3,000 tax credit is for the employers that is the people that hire you for a job and the idea behind this is creating more jobs and having more people working.
You also mentioned “the good thing is that oil prices are down, but worldwide economies are contracting, so people aren’t driving as much.” I understand what you mean, but wouldn’t it be reasonable to use your own car since public transportation fares are higher than ever and gas prices are decreasing?
Another point I would like to comment on is that one in which you said: “the whole system would malfunction. If you don’t have workers, you don’t have jobs, if you don’t have jobs…” I think that you are mistaken here. The most important point is having jobs, which means the economy is working. If later you don’t have enough workers maybe there will be immigrants coming to take those jobs. This is what had been happening in United States over the last century, many people have come to work here because jobs were plentiful.
Finally, you stated “rising taxes would get you money, but people lose theirs jobs or homes. Lowering it means people get those things they want, and sometimes what they don’t need; so you lose the money.” What Mr. Obama said in his proposals is that he supports tax relief for middle class and working families. He will create a tax credit of up to $500 per person or $1000 per working family. So, generally speaking he will provide relief to 90% of working Americans.
President Barack Obama wants to find a way to help grow our economy when his presidency starts. He wants to owe no debts to other countries. He also wants to help us by not making unemployment pay income taxes. Obama wants to help encourage people to get jobs. It seems like Obama has a lot of ideas for our suffering economy. Obama also states that he will lower taxation, which we all know is a big relief to all of us. Obama will be helping the people that have lost their jobs due to the stock market crashing. He also said that he would be giving a 1,000-dollar rebate to the people in need of money.
Muhammad Furgan, 703
You stated in your letter to President Obama that ” First of all, I think that you should pay attention to global warming.” The question is- what is he going to do about it and what solutions can he offer?
Another statement that I would like to comment on is “ I think that giving middle and lower classes taxes is not right.” I don’t completely agree with this statement. I think that it would be unfair to the other people that they have to pay taxes when other people don’t. There would be more chaos and fighting than there is right now and we don’t want that. In my opinion, I think that everyone needs to pay taxes, just in smaller amounts.
Rinaldi from class 702 said that we should start making our own products instead of having other countries doing it for us. I don’t understand this. My question is that “How does America save money by making our own products?”
If we made our own products this would probably waste even more money. For example, companies such as Nike make their sneakers in Vietnam and China. Over there it wouldn’t cost that much to make them. But if you made them here then it would be more expensive because the materials would be expensive. So as you can see this idea wouldn’t be a good one.
Rinaldi from class 702 suggests Obama that we should get solar paneled cars to help our economic crisis. Solar panel cars are a great deal to prevent pollution, but this won’t help the economic crisis. Solar powered cars are very expensive to make and we would be wasting money that we need. My question is “Why would solar powered cars help the economic crisis.”
Mohamed Elsaid Class 723, you have posted a statement that I personally think is questionable. You have stated that the president should bail out the auto companies that are bankrupt. You have not provided a reason for this. I also disagree. If these auto companies are so bankrupt, why did they come to court in private, commercial airplanes? Furthermore, this happened at the time gas was $4.00 a gallon. Never mind jet fuel! If these companies were so bankrupt, how did they afford high price jet fuel? If the planes were hybrid I would understand. If we bail out each company for millions of dollars, the economy would “go out of the pot and into the flames.”
Rinaldi: 702
Do you and should you really think that Obama should come up with a proposal to start making our own materials; such as, solar powered cars or taxing people who are in a higher class than other citizens? Due to the fact that our country is in a major economic crisis, I don't think that we have the money to enforce these kind of proposals. Even if the proposals were to pass on, how will solared power cars help our economy? I can understand how solar powered cars can reduce pollution, but how will it help the economy? Taxing the people who are in a higher class than others might sound like a good idea, but under that, it will be unfair to those citizens. In the end my question is "How would America save money from making our own products?"
Rinaldi 702 do you think at this moment in USA's most horrific crisis we should start making our own proucts and solar power cars and other stuff. We have to fix the economy not make it worse by spending more money. And what good will it do us ( making our products is fine)but the solar power cars cannot help us in this crisis state
Rinaldi 702 do you think at this moment in USA's most horrific crisis we should start making our own proucts and solar power cars and other stuff. We have to fix the economy not make it worse by spending more money. And what good will it do us ( making our products is fine)but the solar power cars cannot help us in this crisis state
Jimmy: 723
Jimmy said that president elect Obama has a handful of stuff to do. he has to clear America's debt of 100 million to 200 million. what debt are you talking about? i never knew that U.S.A has a debt with any country. And how do you know that it waill cost that much money?
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