Posted by NCWayne on November 23, 2012 at 11:23:35 from (69.40.232.132):
In Reply to: Sort out your debt posted by samn40 on November 23, 2012 at 10:53:15:
That's a really nice idea, and fortunately for them all of the debt was retained within the town. Unfortunately here in the good old US of A, the hotel owner had been given a 1 million dollar, 1/2 % interest loan to fund the startup of his hotel because he was an immigrant. This meant the butcher, farmer, baker, and the young lady all were paying out their hard earned money to cover the true interest on the loan given to the hotel operator. On top of that there was the extra they had to pay out to cover the cost of the program that paid out the money. Then there was the additional interest they had to cover to insure that the foreign country((( where the hotel operator moved from))) got their money back as they had made the initial loan to the USA at a prime rate of only 3%. Not to mention other 1/2% of their income that went to the government to pay wages and benefits for 10,000 government employees required to manage the whole program that gave out the loan to the hotel operater in the first place.
In the end the foreign born hotel operator made out like a bandit. Unfortunatelym the others, who were all natural born citizens, worked their a$$es off to insure the 10,000 government employees got well paid, the other country got paid back, and the hotel owner his bills got paid for him....All the while they couldn't even make enough money to take a vacation on their own and rent a room from the hotel operator....who, instead had to rely on other rich, foreign guests to really help him get rich....
Ok, my scenerio just as simplified as the origional but in the end it's just as true when you get right down to it........
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