Link to the Senate Bailout Bill

Discussion in 'Politics' started by KenH, Oct 1, 2008.

  1. KenH

    KenH
    Expand Collapse
    Active Member

    Joined:
    May 18, 2002
    Messages:
    32,485
    Likes Received:
    0
  2. ReformedBaptist

    ReformedBaptist
    Expand Collapse
    Well-Known Member

    Joined:
    Aug 7, 2007
    Messages:
    4,894
    Likes Received:
    27
    Ken,

    I don't think anyone is actually reading this. Please use the link and sound off, using the actual bill, whether you agree or disagree and WHY, and better yet, offer a different solution. Otherwise our sound bites look like ignorance.

    And the bill is called the Troubled Assets Relief Program.

    RB
     
  3. givengrace

    givengrace
    Expand Collapse
    New Member

    Joined:
    Feb 26, 2008
    Messages:
    393
    Likes Received:
    0
    I like this guy's Idea Much BETTER!!

    This idea sounds just crazy enough to possibly work, so naturally it won't be given serious consideration. How great is our bureaucracy!!

    Hi Pals,

    I'm against the $700,000,000,000. bailout.

    Instead, I'm in favor of giving $700,000,000,000 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 $700 billion that equals $3,500,000.

    My plan is to give $3,500,000 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 $1,050,000 in taxes.

    That sends $210,000,000,000 right back to Uncle Sam.

    But it means that every adult 18+ has $2,450,000 in their pocket.

    A husband and wife has $4,900,000.00.

    What would you do with $2,450,000.00 to $4,900,000.00 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 $700 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 $700 Billion

    We Deserve a Dividend more than the geniuses at AIG or in Washington DC

    And remember, The Birk plan only really costs $490 Billion because $210 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 $700 Billion!!
     
  4. TomVols

    TomVols
    Expand Collapse
    Administrator
    Administrator

    Joined:
    Oct 30, 2000
    Messages:
    11,170
    Likes Received:
    0
    First, I thank Ken for linking us to the bill. It's good to actually see the legislation.

    Second, this "plan" that would supposedly make everyone a bunch of millionaires would not work. First, prices would rise immediately as there would be a greater demand than supply. Second, people would not pay down debt - they would consume. Many people would go home and quit work. Suddenly a glut of jobs available with no one to work them. Third, how do we know the govt would collect the taxes on this money? It costs 12 million just to print the tax forms in America, not counting the instructions on the forms, which usually get wasted since most people file electronically or using computer printed forms. There are a million other reasons creating one gigantic welfare state would not work, but time is too short to list them all.

    If you want to say that the govt should give money back to the American people because they are over-taxed, you'll get no argument from me.
     

Share This Page

Loading...