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I got this in my email today and I think it sums it all up just great in regard to the whole bailout issue. I wouldn't mind having me a piece of the T.J. Birk Economic Recovery Plan...read this and see if you agree!!! I think its awesome. 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 billion 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 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 years of age and older! 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 I do the geniuses at AIG or in Washington ohio 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!!
Yes, they will pass the bill. This is what I think they should do: This situation consists of several elements: assets, principal, interest, buyers, banks, and criminals. One of the first mistakes of the entire situation was starting the foreclosures. When you start foreclosing, you stop incoming money. they should have frozen and deleted all the interest. (Sure, that's a loss, but that would have been the only loss. The banks need to owe up to the mistake.) Let the people keep their properties at their current monthly payments and let the payments apply to the principle. If people are late on their payment, an interest/late fee could be attached then. This way, there is still money coming in to pay for the principle amounts due. The only thing the government would have to help out on ... a little ... would be the interest. The banks need some incentive to go after the people who started this mess. Well, that's my point of view! Have a great day!
They are all a den of thieves! They will pass the "No Banker Left Behind" act to fund their buddies. They have ripped off the American public for so long that they think they can spend a trillion dollars like it was their money! We have to fight these people as hard as we fought the British!
I hope they don't pass it. And to the person who wrote the above... How wonderful that would be to give every adult american a peice of the pie. Then we wouldn't need any home loans, or car loans, It would be a very nice America.
Hey how many ppl live in America,, 1 million each should cover it. Does'nt add up to 700bill..lol.