Isn't it ironic that

[Tris]

There are many ways to deal with it.

Yes, and some states, like Virginia tax food:)

[Jester]

What's the difference?

That they aren't paying any income tax now, because they have no or negligible income?

Issue them an ID card then that they can show to skip the taxes.

That might work.

-Jester

Afterthought: Of course, then you have a black market in tax-skipping ID cards, since there is then a legitimate, and very difficult to trace, mechanism for both shopkeepers and consumers to skip the taxes.

[Zenda]

Kandrathe "I have a good friend who lost his house because he refinanced to an ARM that went up, and then when his wife had an illness, they lost her supplemental income, and they couldn't keep up with payments on their debt load."

It looks like this is what happened to many people.

http://www.alternet.org/blogs/peek/100749/..._coup_right_now

"Do you know why so many Americans are losing their homes? To hear the Republicans describe it, it's because too many working class idiots were given mortgages that they really couldn't afford. Here's the truth: The number one cause of people declaring bankruptcy is because of medical bills."

For those who think this is nonsense, and that there is no tie to health insurance, check out this link:

http://www.consumeraffairs.com/news04/2005...ptcy_study.html

Apparantly, Sabra's post about health insurance deserved more attention then it got here:)

[kandrathe]

It looks like this is what happened to many people.

I've never liked ARM's myself. They are too risky for me, but I've taken out loans where you can defer (for a period of time) locking in the rate until the rate goes down (hopefully). I like good old fixed rate mortgages with a hefty down payment. The problem is that lenders make their loans into gambling products where losing results in real family tragedy. It is not clear that the consumer realizes the risks.

I don't feel sorry for a company like AIG, where risk is their business. I've worked with AIG on a different problem they had about 7 years ago where they had to struggle to remain solvent due to a massive devaluation on used automotive assets (SUV's).

What is sadly ironic is that the same gambling spirit that has screwed consumers of loans has screwed the lenders as well.

[Occhidiangela]

Too far, Occhi.

-Bolty

Not hardly, hell, not far enough.