The Wall Street Bailout: Why We Deserve it Dividends and Shares!!
Why the Hell Not??
Let's take a look back a few weeks, when the argument was: The "Economy is fundamentally sound," to the point when a presidential debate was almost called off because - a "Maverick" or two were going to take on Washington and single-handedly solve a global financial crisis in less than 24 hours.
Now, we all seem to have shifted and come to agreement that CHANGE (literally and figuratively) is the only thing we can Believe In. I'm sure that admission has been a hard pill for some to swallow - but hubris is a tough one to let go of. But -anyhow, I'm now thinking that in the midst of all this hoopla and shift in dialogue/rhetoric from Surges, to Baby Daddies, Racism and Sexism - the reality remains that we are ALL in a whole load of Sh**!
Okay, so this morning President George W. Bush, faced the nation and after 8 years of drama announces that with BI-PARTISAN participation, we have reached an agreement for a BAIL-OUT of Wall Street in which Main Street will be actively participating or the SKY WILL FALL!!! I'm thinking aren't these the same people who said that they could not bailout Main Street with their mortgage crisis - 'cause they should have known better? Then I flashed back to Fox News Neil Cavuto - who suggested that the US economic mess was caused by Minorities and less than qualified folks - Now, the "Qualified Folks" want us to help them out??
I'm so confused - but moving along because I realize that we are in the middle of some critical negotiations and there has to be some give and take. So, I would like to share this email I received from my girlfriend Amie (love ya girl) - that was supposedly initiated by one T. J. Birkenmeier, who describes himself as "A Creative Guy & Citizen of The Republic."
At this point, I don't give a flying "****" if T.J. is Republican, Democratic or Squat - I just like what is contained here ( because it expresses my initial feelings), and give me the opportunity offer this argument (on behalf of Main Street)during these here bailout negotiations:
"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%.
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
=2 0
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
=2 0
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.
20
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 spellEconomic 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 DC.
And remember, The Birk plan only reallycosts $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."
Enough Said - Holler back and let me know your thoughts!!!
Published by saba,ink
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- With Bailout, Is Socialism Still a Bad Word?I just read on the BBC's web site that key players in the bailout plan have come to an agreement in principle on what form the bailout should take.
- Understanding the Wall Street Meltdown: A Primer for the LaymanThe United States is facing its worst financial crisis since the Great Depression. How did this happen? What follows is an explanation for the layman.
- Economic Education and the Wall Street BailoutThe language of economics can seem so complex, some Americans don't know (or seem to care) about the $700 billion bailout.
- How Wall Street Manipulates Investors
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- 2008 US Senate Election Watch
- The AIG Bailout and the Current Banking Mess
- Suze Orman Discusses AIG Bailout, Wall Street Crash Risk
- Wall Street Bailout is Barack Obama's Best Issue
- Treasury Secretary Henry Paulson Comes from Wall Street Roots
7 Comments
Post a CommentGreg obviously does not get the "CONCEPT" behind this piece - we'll just move along to those who get it.
Appreciate you stopping by -
oops- check the math.
the we deserve it dividend come out to $465.00 each not $465,000.00
How anyone can think that the US government has half a million dollars per person is absolutely incredulous...
Damn good article Saba, I am simply amazed at the audacity of the Bush administration to try and pass this bull-damn-stupid bill. He has shoved enough of his failed polices down our throat, It just leaves me almost speechless to think of how much Wall-Street was salivating over the prospect of this bill being passed. There is no free ticket out of jail for these crooked social elite. All-in-all the status-quo has show their real face, they don't give a damn about the working class Americans. How can anyone approve of John McCain and Sara Palin nomination, all I have heard from both of these candidates is the same old Barack bashings-and the same old and tired rhetoric. Our nation is indeed undergoing an economic crisis, if you don't believe it, just ask the homeowners who lost their home not knowing the disaster of having balloon mortgages and adjustable mortgages. This one should have been on the front page, great job.
That paper would be so devalued I suspect that you would hold penny stock. The people who caused this mess- by draining the corps of compensation amounting to $17,000-26,000 per hour worked!!!!- need to pay back a good deal of that money. Any accounting firms that gave clean opinions on these companies need to be looked at very closely to see what they knew/should have known/reported and whether any criminal or civil fraud violations occurred. Ditto for the corporate execs if they violated any securities or other laws.
G-Man, I can always count on you to see the forest and the trees......great observations
READ THE COMMETS POSTED BELOW - FIRST!!!! THIS SEGMENT OFFERS CLOSING STATEMENTS. This is exactly what Bush and the "pubbies" have been pushing for since he took office (to have Americans invest their money in the market to secure their financial future), and the bailout allows them to push the plan forward because NOW Americans don't have a choice. "You're either with us or against us!" Sound familiar? Finally, as long as Wall Street remains unregulated and can do whatever it wants, the average Joe and Jane will have to sacrifice life savings and their kid's college funds to cure the country's financial woes. That's just not right! T.J.'s plan is predicated on one thing and one thing only......that the bailout WILL WORK. Even leading economists indicate THAT is not guaranteed.
While this all sounds good and plausible, the devil is in the details. I am completely against the bailout for three reasons. First, it amounts to nothing more than a handout for Wall Street executives who get to basically walk away with millions in severance packages and a mere slap on the wrist. Let's say the bailout does offer some measure of relief to the market and the economy, what's to stop this situation from happening again? What then? Another bailout? This has the potential to become a vicious, never-ending cycle and the average tax-payer will ALWAYS be left holding the bill. Secondly, there is a real danger of people getting caught up in the "money potential" and missing the bigger picture. The more that fall in lockstep for the bailout, the more likely it is that Social Security will become a thing of the past. This is exactly what Bush and the "pubbies" have been pushing for since he took office (to have Americans invest their money in the market to secure their financial