Everyone intuitively including the people pushing this bailout realize something is very, very out of whack here. It just doesn't compute that we as taxpayers have to pay for this massive cleanup. Whats more they, the 'designers' of it, are deeply embarrassed to have to do it. It totally contradicts and makes mockery out of the entire Reaganian ideology of deregulation and free-for-all market driven economics to which they ascribed to and from which Poulson personally benefited. And as Birk T. J. Birkenmeier shows (see below) even the a "piddly" $85B for the AIG bailout directed back at US citizens would have an incredible direct effect. But $700B? It boggles the mind. What the fuck is going on?
In a time when we've gotten used to pissing money away at astronomical rates (see the ‘burn-rate’ for the Iraq Occupation at http://www.nationalpriorities.org/costofwar_home) this figure, $700B, still blows everyone away. There is never money for anything: health care, bridges, schools, college tuition assistance, states budgets. When some modest spending bill passes Congress for 2 or 3 "measly" billion, Bush fucking vetoes it. "Can't afford it" he says. Then low and behold we now have to fork over nearly 3/4 of a trillion dollars or else everything goes down the tube. And what is galling beyond words is that the very people that got us in this mess (and got way richer in the process) are saying unless the US taxpayer (meaning the US middle class) bails us out, we will let everything collapse in a 1929 style gotterdammerung.
As far as I can tell these guys, Poulson and Beranake are winging it. One day they bailout a big investment bank, the next day they let one collapse, then they rescue a big insurance company. But nothing works. Now they are coming up with the "700 billion dollar gamble." They just try different shit to see how the stock market and credit markets worldwide react. The markets liked the big bailout idea. So now the big boys are now holding out for this massive mother of all one time expenditures. Today it looks likes going through so the Dow is up, surprise, surprise.
A modest proposal from:
Birk T. J. Birkenmeier, A Creative Guy & Citizen of the Republic
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 bona fide 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 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!!
In a time when we've gotten used to pissing money away at astronomical rates (see the ‘burn-rate’ for the Iraq Occupation at http://www.nationalpriorities.org/costofwar_home) this figure, $700B, still blows everyone away. There is never money for anything: health care, bridges, schools, college tuition assistance, states budgets. When some modest spending bill passes Congress for 2 or 3 "measly" billion, Bush fucking vetoes it. "Can't afford it" he says. Then low and behold we now have to fork over nearly 3/4 of a trillion dollars or else everything goes down the tube. And what is galling beyond words is that the very people that got us in this mess (and got way richer in the process) are saying unless the US taxpayer (meaning the US middle class) bails us out, we will let everything collapse in a 1929 style gotterdammerung.
As far as I can tell these guys, Poulson and Beranake are winging it. One day they bailout a big investment bank, the next day they let one collapse, then they rescue a big insurance company. But nothing works. Now they are coming up with the "700 billion dollar gamble." They just try different shit to see how the stock market and credit markets worldwide react. The markets liked the big bailout idea. So now the big boys are now holding out for this massive mother of all one time expenditures. Today it looks likes going through so the Dow is up, surprise, surprise.
A modest proposal from:
Birk T. J. Birkenmeier, A Creative Guy & Citizen of the Republic
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 bona fide 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 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!!
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