My kind of bailout

[mcwilly]

I love a good daydream...

I'm against the $85,000,000,000.00 bailout of AIG. Instead, I'm in favor of giving $85,000,000,000 to America in a We Deserve It Dividend.

To make the math simple, let's assume there are 200,000,000 bonafide U.S. Citizens 18+. Our population is about +/-301,000,000 counting every man, woman and child. So 200,000,000 might be a fair stab at adults 18 and up ... so divide 200 million adults 18+ into $85 billon ... that equals $425,000.00. My plan is to give $425,000 to every person 18+ as a We Deserve It Dividend.

Of course, it would NOT be tax free. So let's assume a tax rate of 30%. Then every individual 18+ has to pay $127,500.00 in taxes. That sends $25,500,000,000 right back to Uncle Sam.

But it means that every adult 18+ has $297,500.00 in their pocket. A husband and wife team has $595,000.00. What would you do with $297,500.00 to $595,000.00 in your family?

* Pay off your mortgage - housing crisis solved.

* Repay college loans - what a great boost to new grads

* Put away money for college - it'll be there

* Save in a bank - create money to loan to entrepreneurs.

* Buy a new car - create jobs

* Invest in the market - capital drives growth

* Pay for your parent's medical insurance - health care improves

* Enable Deadbeat Dads to come clean - or else

Remember this is for every adult U S Citizen 18+ including the folks who lost their jobs at Lehman Brothers and every other company that is cutting back. And, of course, for those serving in our Armed Forces.

If we're going to re-distribute wealth let's really do it ... instead of trickling out a puny $1000.00 ("vote buy") economic incentive that is being proposed by one of our candidates for President. If we're going to do an $85 billion bailout, let's bail out every adult U S Citizen 18+!

As for AIG - liquidate it. Sell off its parts. Let American General go back to being American General. Sell off the real estate.

Let the private sector bargain hunters cut it up and clean it up. Here's my rationale. We deserve it and AIG doesn't.

Sure it's a crazy idea that can "never work." But can you imagine the Coast-To-Coast Block Party!

How do you spell Economic Boom? I trust my fellow adult Americans to know how to use the $85 Billion We Deserve It Dividend more than do the geniuses at AIG or in Washington DC.

And remember, The Birk plan only really costs $59.5 Billion because $25.5 Billion is returned instantly in taxes to Uncle Sam.

Ahhh...I feel so much better getting that off my chest.

Kindest personal regards,

Birk
T. J. Birkenmeier, A Creative Guy & Citizen of the Republic

PS: Feel free to pass this along to your pals as it's either good for a laugh or a tear or a very sobering thought on how to best use $85 Billion!!!

[derekhonda]

It just doesn't work that way.

[extremeblastr]

derekhonda the point being why not? if it did work this way, and this money was put into the hands of the population with the exception of people convicted of violent or property crimes, and illegal immigrants, it would boost our economy in an unbelievable way, there is no reason the government should be spending that much money on a company that has been unable to sustain itself.

[Pappy]

I dont agree with the bail outs, but have no opinion on a payback to the people. Get us out of debt and watch us grow again.

[ALAMX37]

It is a beautiful thought, but that is all it is.

[trick450r]

that's a horrible idea.

We have this principle called economic inflation. If that happened you watch just how fast your paying $6 a gallon for gas, afterall now you can afford it!!

Just wait untill your taxes double, insurance sky rockets, automobile prices rise, interest rates go through the roof.

NOT a good idea. I'm not a big fan of the bailout either. It shouldn't be long untill our government controls a large portion of our biggest corporations.

When this great country we AMERICANS have built comes crashing down around us. THEN we will have the opportunity to clean up this mess we've gotten into. Untill then its only a matter of time. I dont think we are going to sit here in limbo for too long. And its going to stay like this untill we stand up and forcefully let our government know that american's DO NOT get pushed around and that includes our own government.

And dont tell me our government is the best thing for us right now or any of that bull****. Politicians are their to exploit us and prosper, nothing else. When someone besides the super rich can be allowed control of this country then i will have faith in our government. Untill then all we can do is wait untill they make that final move that starts an uprising.

[gbcap]

this logic makes no sense at all. they want to solve the housing crisis buy selling off all the parts of AIG? do you realize how much real estate that AIG owns. if you try to sell them all right now you would flood the market and it would crash.

give each person $200,000? are you going to regulate how its spent? most idiots are not going to pay off debt. they are going to buy frivoulous things. and what happens to all the banks that have outstanding debt thats going to be all paid off. they will no longer have any income and could be part of this whole forclosure issue.

what about the deadbeats of this world? do they get it? prisinors? felons? who gets it and who doesn't?

what about all the companies (mine included) that use AIG for insurance. you let them fail and we will all have to find a different insurance company. what if they other companies do not have enough insurance writers to get the policies in hand quick enough. what if they don't have enough capitol to cover the policies?

the logic is horribly flawed. i hate to see our tax money go to a private company but on the same token, that private company has a HUGE bearing on the economy as a whole and if it fails many other things will snowball behind it.

[quad59]

As far as bailout money goes...let AIG fail. They couldnt manage there own money they sure as heck are not going to manage the tax payers. As far as government intervention goes, its a joke, this gov. cant solve its own problems. ( social security,welfare,public health care) . Its looking like a rocky next ten years, with alot of work ahead. Our choices for office are not that great either, I'm burying my money in the basement!

[ZeroLogic]

My question is, where the hell does the goverment get the right to take the citizens tax money to bail out a private company?

[coryatver]

Guess how much those washington guys have invested in all these companys that they are pushing to bail out:chinese:

[quad59]

There is no checks and balances anymore it's all about lining there pockets and the pockets of campaign contributors. I wonder how much money the top ten at AIG have contributed over the years.

[quad59]

Originally posted by coryatver
Guess how much those washington guys have invested in all these companys that they are pushing to bail out:chinese:

Never thought of that. Wouldnt that be considered conflict of interest.

[derekhonda]

Originally posted by extremeblastr
derekhonda the point being why not?

Truth be told, like it or not the country needs poor people. All economics aside (and by the way...read a book about economics cause you seem to be lacking in that subject), if everyone was rich whose gonna pick up your trash on monday? I sure as hell wouldn't. Whose gonna sit in a hot 18 wheeler for 12 hours a day to make sure your groceries get to the store...not me. The country depends on these people who break their back day in and day out.

Oh yeah, and even if you still aren't convinced...

85,000,000,000 /
00,200,000,000

= 425 dollars anyways, so your plan isn't even close to being right.

[quad2xtreme]

[i]85,000,000,000 /
00,200,000,000

= 425 dollars anyways, so your plan isn't even close to being right. [/B]

I was just reaching for the calculator myself...

[ZeroLogic]

Originally posted by derekhonda
Truth be told, like it or not the country needs poor people.

Don't you worry. There will be a lot in about 10 years if our goverment don't do something.

[protraxrptr17]

I have a theory, let me know if I'm wrong. Alright, think about the sports and entertainment industry. Hasn't there been a huge increase in the number of millionaire "celebrities" over the past ten years? I mean, even bench warmers get six and seven digit paychecks. right? Has much of the wealth transferred to these people and caused a shortage on the low (regular working people) end? Would a collapse of the sports and entertainment industry stengthen or hurt us mere mortals? Most of these people have much more money than the could ever spend. Wouldn't it help to get this money back into circulation? I'm not trying to be a socialist, but seems to me we need to redistribute some of the weath in this country. Anybody agree or disagree?

[bwamos]

Here's some numbers that will make you go :eek2:

189,270,099 people filed federal returns. (this includes taking joint returns and multiplying by 2 for two people)

130,640,744 of those people actually paid taxes. The rest were non-paying returns.

According to the 2008 estimate there are 305,247,000 americans in the US.

So about 43% of americans pay federal income taxes of any value. To be expected. Children, unemployed, freeloaders, etc...

Ok.. but to the real math.

130,640,744 taxpayers are footing the 700,000,000,000 bailout bill. That's an average of $5358.21 per taxpayer.

Is it necessary. Probably. But it pisses me off. Why, because anyone with any common sense was able to see this coming years ago.

I make about $48k per year +/- depending on overtime and dividends. When I bought my house the lender pre-approved me for a loan of up to $270,000.00. :eek2: I'm know I'm good for whatever I borrow.. but I wouldn't even give myself a loan that big. That is redicilous.
That is $1800/mo at 7% for 30 years.
$48000.00 * 0.73 = $35,040.00 takehome after taxes. divided by 12 months = $2920.00/mo $1800 is 62% of my income after taxes. Add in utilities, auto, gas, groceries, etc... there is NO way that is a good investment for the bank.

And now that noone used a little common sense, the average working american that could see this coming from a 50 miles away is going to have to foot the bill.

And don't fall for "this is an investment" crap. It is not. We are not buying up the good loans. We are buying up the BAD loans and letting the financial institutions keep the good loans.

Is it necessary... most likley. But it sucks, and pisses me off.
If the CEO's get a single penny of mine in compensation for their incompentancy, somone is going to be in for a lashing.

[Mxjunkie]

I say they need to start taking action against all the *******s who made out like kings and are taking the money and running instead of making us as " servants " in a way to do all their cover up work to make things better. It make's you wonder who pissed in who's cerrios to start all the conflicts of war that we have now, for all we know this entire time it could of been us but the news and government has mislead our conception on the real facts...:grr:


Plus, the days of these huge 300-400,000 dollar houses in the developments needs to come to an end too, no wonder no one can pay their fricking mortgages :rolleyes:

[trick450r]

Originally posted by Mxjunkie
I say they need to start taking action against all the *******s who made out like kings and are taking the money and running instead of making us as " servants " in a way to do all their cover up work to make things better. It make's you wonder who pissed in who's cerrios to start all the conflicts of war that we have now, for all we know this entire time it could of been us but the news and government has mislead our conception on the real facts...:grr:


Plus, the days of these huge 300-400,000 dollar houses in the developments needs to come to an end too, no wonder no one can pay their fricking mortgages :rolleyes:


ill agree with this, people need to start living inside their means.

30 years ago people didnt have 2 quads 2 dirtbikes, 1 boat, 3 snowmobiles, an RV, a lakehouse, 2 jet skis, 1 streetbike, 3 spare cars and whatever else they can finance!!

I've said it before, my strong attitude is if you need to finance a TOY something that you DONT NEED then you really cant afford it and that is one of the major underlying problems here.


And im tired of seeing these huge developments going in that first off look REDICULOUS with every god damn house looking the same or at most 4 different designs for 30 or so houses. Each one costing between 800k and 2 mil, We have enough trouble selling the houses that have been standing for 50 plus years, why do we need more, and fugly ones none the less?


I dont know about everyone else, but these developments are taking over my town and im getting alittle sick of it.

[Mxjunkie]

I agree 100% my small town grew to a fricking small city in 4-5 years.. put it this way, they had to build 3 new schools in the past 3-4 years just to stop the over crowding of students, then our school taxes went up like crazy! :rolleyes:

It takes me 15-20 minutes to drive 5 miles to work everyday when it use to take me about 5-6 :grr:

[derekhonda]

I read something the other day and it kind of made me laugh a little bit. It was just some guys opinion but he was talking about how he missed the days when these big companies tanked, the high up board members just jumped out of the windows and that was it. Im not advocating suicide but maybe thats what the difference is. Back then there was a little bit of pride and they would rather end it all then live with the fact that they took a company under (and were probably doing the same "illegal" stuff these guys are doing.)

Now days, they know they will spend 4 or 5 years in jail but they've already padded their pockets and they will still make out golden.

[Robin Hood]

Let the rich snobs bail out their own company. Why should the hard working tax payers bail out these pigs?

[ZeroLogic]

Originally posted by Robin Hood
Let the rich snobs bail out their own company. Why should the hard working tax payers bail out these pigs?

Because none of us hard workers have the time to protest against this because WE ARE ALWAYS WORKING.:scary:

[Quad18star]

Originally posted by Robin Hood
Let the rich snobs bail out their own company. Why should the hard working tax payers bail out these pigs?

The thing is .... if your government doesn't bailout these companies ... you're going to have another Black Tuesday. It will be interesting and scary to see what happens tomorrow morning when Wall Street opens up. It's not just a problem that will affect the USA , but will be a Global problem if the markets crash. Every country has their shares in companies on Wall Street ... a crash of the stock market means the beginning of another Depression.

Just look at Washington Mutual closing their doors on Friday ... yet another MAJOR bank closing up. Any average Joe that had money tied up in the bank is out a LOT of money . If you ever read your papers from when you opened up a bank account , you will see the fine print that says that if the bank closes or something financially happens , your account is only insured up to a certain percentage. So if the clause is 60% ... you've got $100 000 in the bank .. they close up ... they only have to give you $60 000. That's why the government needs to step in. If it keeps happening , the Average Joe is going to go broke .... the economy will flat line .... trade with other countries will drop immensly ... everyone will suffer.

I'd like to see the fine details of the bailout plan ... see which countries are putting what amount of money in. The USA helped Mexico with their bailout years ago ... lending money with interest attached. It helped save the Mexican economy and the USA made a return profit worth billions of dollars over half a decade.

[JustRace]

On the subject of wasting money. I don't know if anyone is from the Howell area, but if they are they definately know about "Parker High School"

Here is the wikipedia posting for it.

http://en.wikipedia.org/wiki/William_Parker_High_School

The school cost 70 million dollars, yes 70 million. They opened it up for one year, and then closed it, the school now sits dorment.

2008: Due to budget restrictions and limited income, the Howell Board of Education announces that Parker High School will be shuttered after only 1 year of use, despite the $72 million it cost to build the school. All original plans to divide the district into two "zones" are abandoned, and students will be shuffled back into Howell High School in the school year of 2008-2009. This news was met with much objection from the public.

OK Sorry I am done ranting.

[Pappy]

WaMu was sold, it is business as usual, I got a notice in the mail about my account.

[Quad18star]

Originally posted by Pappy
WaMu was sold, it is business as usual, I got a notice in the mail about my account.

You're right it was sold ...... but because of the fact that they were broke . Pretty much seized and sold off to the highest bidder... which turned out to be JPMorgan Chase.

From the USA Today.

"These are nail-biting times for bank customers. On Thursday, the Federal Deposit Insurance Corp. seized the assets of Washington Mutual, the nation's largest savings and loan, and brokered the sale of the company to JPMorgan Chase. The collapse of Washington Mutual — often called WaMu — is the largest bank failure in U.S. history.
The WaMu failure sparked renewed worries that more big banks would fail."