American "Bailout"

[Joho]

Got this from a coworker... interesting.

I’m against the $85,00 0,000,000.00 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%. 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 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
&n bsp; 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, insulting $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 hunt ers 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 I do, or, the geniuses at AIG or in Washington DC. And remember, The Family 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,

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!!

[Easy Rider]

Originally Posted by Joho

Got this from a coworker... interesting.

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!!

It's pretty sobering alright, how much pure stupidity there is floating around.

I just did the math......3 times.....and unless the calculator I used is broken, it comes out to $425 per person NOT 425 thousand.

What is wrong with this picture ?? :skull:

[alanmcorcoran]

Originally Posted by Easy Rider

[It's pretty sobering alright, how much pure stupidity there is floating around.

Up until quite recently Easy, I used to have the same lament. This week I had a bit of an epiphany and realized that the lack of financial knowledge and sophistication of the average American may be the only thing keeping our financial system afloat at this point. If even ten percent of Americans had even the slightest clue as to what the true nature of the current financial crisis is (hint: it's not about the mortgages anymore) there would be mass panic.

Financial systems, currencies and capitalism require trust, confidence and optimism to work. I don't have much of any of these right now, but I'm glad the rest of the country is not as pessimistic as me.

[music man]

Also by his math of 450,000 dollars to each of two hundred million people it would actually add up to this.


90,000,000,000,000 for those of you that don't feel like figuring that one out it is 90 TRILLION DOLLARS. Not only that if you were to dump 450,000 in the laps of Every single adult american citizen, the people that really control what we spend, the oil companies, the electric company, the guy who owns the Mcdonalds that you go to would know that you and everyone else got this influx of money and guess what, the price of every single thing in the United States right down to the laces in you shoes would sky rocket, (which by math would mean that this plan would do us no good). :bang:

[Easy Rider]

Originally Posted by alanmcorcoran

Financial systems, currencies and capitalism require trust, confidence and optimism to work. I don't have much of any of these right now, but I'm glad the rest of the country is not as pessimistic as me.

As they presently exist:

The stock market is just a big Ponzi scheme and (almost) every broker is guilty of promoting an illegal activity.

American Capitalism is legalized pandering. Almost ALL big corporations are scam artists of one form or another.

Over the past 3 years or so, I took all of my money OUT of stocks and the real estate market.
I just had a bad feeling. Now I know why.

I was a little too young and naive at the time to understand the protests against "the man" and the "military-industrial complex" of the late 60's and early 70's but now it is all CRYSTAL clear to me.

Those "hippies" were the only ones who had it right. Where ARE they now ??

[alanmcorcoran]

Ease,

If you want a REALLY bad feeling, read up a bit on the Credit Default Swap market, and you will start to gain an appreciation for the devilish pickle we find ourselves in. Also, to those of you that think "other" people are being bailed out, guess again... If you have money in any of the major financial institutions (maybe credit unions and the rare true community bank excepting) a certain percentage of your money has been exchanged for exotic derivatives, of whose value is no longer estimable (so, for the time being, essentially zero, if you need to sell.) If this zero value has to be declared, practically every major institution will be technically insolvent, and there just isn't enough money in the world to fix it.

Someone above mentioned a figure in the trillions. As it happens, the Credit Default Swap market (sort of unlicensed life insurance for lenders, borrowers and loans) is, at last count, a 62 TRILLION dollar market. The theoretical value of these contracts is supposed to be about 2 trillion, but right now, the market is so volatile, nobody knows what anything is really worth. 2 Trillion is a lot of money, especially when you consider that this market really didn't take off until 2004. The figures above are for the US alone. Worldwide there are over 445 TRILLION dollars of these contracts in effect.

I believe there are solutions to this problem, some of which require merging opposing parties on these contracts together, both parties keeping them on their books, and nobody talking about them, (and lettting a lot of time pass) but I am concerned whether there is anybody in authority that can take the steps necessary to prevent the dominoes from falling without accidently knocking over more of them (See Charles Schumer on Bear Stearns and Lehman and everybody else on WaMu.)

[music man]

I am the one who mentioned 95 trillion dollars. because by this guys "family plan" of giving 450,000 dollars to each of 200 million adult americans, thats how many dollars it would take to cover his plan.

[Dupo]

Originally Posted by Easy Rider

They used 'Dupo Math'

:smoke: :biggrin:

[mr. softie]

We have a government "Of The Corporation, By The Corporation, and For The Corporation."

Mussolini called it Fascism, but later said he should have called it Corporatism.

His idea was to save Italy and help the Italian people by having the Government and the Corporations work together for the common good. Not a bad idea I suppose, and it was starting to work, but Hitler messed it up pretty bad.

I think our form of "Fascism" might have worked too if the fruits of our labor had not all gone to a small number of the greediest people on earth. It might have worked too if we had used our wealth to help people here, and not to enrich a bunch of foreign bankers, Arab oilmen, and Defense contractors. It probably would have worked if we had even a LITTLE bit of leadership in Washington, and had developed alternative energy, fuel efficient transportation, and had not squandered our resources on a bunch of stupid wars.

Of course the corporations would love to be able to hire people wearing "will work for food" signs.
Welcome to the third world! :??:

I guess if we just borrow/print more money everything will be ok...

Actually the 700 Billion works out to about 2300 bucks for every man woman and child in the USA, plus interest, so cough it up suckers!

[Dupo]

Originally Posted by mr. softie

It probably would have worked if we had even a LITTLE bit of leadership in Washington, and had developed alternative energy, fuel efficient transportation, and had not squandered our resources on a bunch of stupid wars.

Right on brotha. :rawk: