TARP fund recovery at 70%

Mr.DittoheadOld Faithful

American International Group (AIG.N) repaid another $6.9 billion of its bailout on Tuesday, the U.S. Treasury said.

With that payment, the Treasury said it has now recovered 70 percent of the $411 billion distributed under the crisis-era Troubled Asset Relief Program, or TARP.

After those payments, the Treasury still holds about $11.3 billion in preferred interests in AIG. It also owns about 92 percent of AIG's common stock.

Of the TARP funds still outstanding, about 70 percent are concentrated in AIG, finance company Ally Financial and automaker General Motors.

The Treasury said it expects taxpayers to recover "every dollar" of AIG's bailout, which at one point swelled to $182 billion.

http://www.reuters.com/article...dUSTRE7276D520110308

5/9/111:53 PM

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Winston Niles RumfoordPost Master

How's the payback from Obama's $800 billion stimulus and $1 trillion ($1000 billion) Obamacare going?

5/9/117:01 PM

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Mr.DittoheadOld Faithful

Originally Posted by Winston Niles Rumfoord:

How's the payback from Obama's $800 billion stimulus and $1 trillion ($1000 billion) Obamacare going?

Try keeping up on current events before posting. OBama passed the biggest tax cut in history, it was part of the Stimulus Bill, so, because we all know that tax cuts increase federal tax revenues, OBama's Stimulus bill was FREE!!!

5/9/117:27 PM

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skippy delepepperOld Faithful

AgaOriginally Posted by Mr.Dittohead:

Originally Posted by Winston Niles Rumfoord:

How's the payback from Obama's $800 billion stimulus and $1 trillion ($1000 billion) Obamacare going?

Again with the funny math.

You should work for the Federal Government.

Skippy

5/9/118:01 PM

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Winston Niles RumfoordPost Master

OK, then how was it funded? You can't just make money out of thin air, can you?

5/9/118:07 PM

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interventor1212Old Faithful

Originally Posted by Mr.Dittohead:

American International Group (AIG.N) repaid another $6.9 billion of its bailout on Tuesday, the U.S. Treasury said.

With that payment, the Treasury said it has now recovered 70 percent of the $411 billion distributed under the crisis-era Troubled Asset Relief Program, or TARP.

After those payments, the Treasury still holds about $11.3 billion in preferred interests in AIG. It also owns about 92 percent of AIG's common stock.

Of the TARP funds still outstanding, about 70 percent are concentrated in AIG, finance company Ally Financial and automaker General Motors.

The Treasury said it expects taxpayers to recover "every dollar" of AIG's bailout, which at one point swelled to $182 billion.

http://www.reuters.com/article...dUSTRE7276D520110308

AIG, of course, was part of the Bush TARP program. Glad to see we'll get the money back, perhaps, with interest.

No way will the TARP Obama paid out to GM be recouped.

5/9/1111:07 PM

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interventor1212Old Faithful

Ditzy is being partially sarcastic and partially pig ignorant about tax cuts being free.

He really doesn't understand the dynamics behind when tax cuts result in increased revenue, or not.

The tax portion of Obama 's stimulus package included a total of $237 billion. About $116 billion of the $237 billion was for a new payroll tax credit of $400 per worker and $800 per couple in 2009 and 2010, phased out at $75,000 for individuals and $150,000 for joint filers. This type of tax cut doesn't increase revenues. Its main purpose is a quick influx of cash to the economy to get it going. Didn't work when Ford and Bush tried it. Certainly didn't work when Obama tried it either, obviously.

Then:

$15 billion: Expansion of child tax credit: A $1,000 credit to more families (even those that do not make enough money to pay income taxes).
$14 billion: Expanded college credit to provide a $2,500 expanded tax credit for college tuition and related expenses for 2009 and 2010. The credit is phased out for couples making more than $160,000.
$6.6 billion: Homebuyer credit: $8,000 refundable credit for all homes bought between 1/1/2009 and 12/1/2009 and repayment provision repealed for homes purchased in 2009 and held more than three years. This only applies to first-time homebuyers.^[40]
$4.7 billion: Excluding from taxation the first $2,400 a person receives in unemployment compensation benefits in 2009.
$4.7 billion: Expanded earned income tax credit to increase the earned income tax credit — which provides money to low income workers — for families with at least three children.
$4.3 billion: Home energy credit to provide an expanded credit to homeowners who make their homes more energy-efficient in 2009 and 2010. Homeowners could recoup 30 percent of the cost up to $1,500 of numerous projects, such as installing energy-efficient windows, doors, furnaces and air conditioners.
$1.7 billion: for deduction of sales tax from car purchases, not interest payments phased out for incomes above $250,000.

http://en.wikipedia.org/wiki/A...vestment_Act_of_2009

All one time tax reductions that will not result in increased revenues. Which, obviously hasn't happened. Ditzy doesn't understand the process. But, then neither does Obama, or his hirelings.

5/9/1111:21 PM

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