Here's a fun fact that was pointed out to me by someone else.  This buried in a "Forbes" article last week:

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Why $700 billion dollars?

"It's not based on any particular data point," a Treasury spokeswoman told Forbes.com Tuesday. "We just wanted to choose a really large number."



Best,

George

BarbaraD wrote on Sep 29^th, 2008 at 4:48pm:

This is what drives me nuts.

If $600 Billion was pumped into wall street by the Fed. Reserve today without Congress approval, what the heck was all the voting about? Why was Paulson upset, and why another vote later on this week? How can this happening become public knowledge? I watched TV all evening, and I’ve heard nobody except Congressman Paul mention this. People should know.

The Birk Economic Recovery Plan

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.

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 ('to buy your vote') 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 I 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

Again, 85 billion divided by 200 million is $425 not $425,000.

Kinda takes the shine off the thing don't it.

Chanting "You broke it, you bought it"

Thousands of protestors demonstrated agains the proposed $700 Billion bail out plan for the finance and banking industry, yet the national news media in America didn't even report it! Why not? It seems strange that this barely generated a gander from the big news outlets like ABC, CNN, CBS, NBC etc. all of whom have a presence in New York City.

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With all of this available information and in an era of tight budgets, why are lawmakers so resistant to reducing waste? One reason is that they see it as a thankless job that would go unnoticed back home. With Congress in session just 80 days annually, reducing waste would take precious time away from most lawmakers’ higher priorities of increasing spending on popular programs and bringing pork-barrel projects home.

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The Defense Department has uncovered its own credit card scandal. Over one recent 18-month period, Air Force and Navy personnel used govern­ment-funded credit cards to charge at least $102,400 for admission to entertainment events, $48,250 for gambling, $69,300 for cruises, and $73,950 for exotic dance clubs and prostitutes.

Linda_Howell wrote on Sep 30^th, 2008 at 8:31pm:


Look up a few posts to "You broke it, you bought it"......Thats a start, no?

Until we can get the ball really rolling, lets have some music, shall we?

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Linda_Howell wrote on Sep 30^th, 2008 at 8:31pm:


Well tossing tea into the harbor isn't going to do much.  

Hmmm maybe if each and every taxpayer changed their withholdng status to exempt at the end of 2008 and then refused to file a return for the year come Feb 2010?

Think there are enough prisons to hold us all?

edit to finish my sentance.

I told Jess to stock up on cases of bullets.  He said he was going to purchase some this week anyway...

Redd wrote on Sep 30^th, 2008 at 8:51pm:

No, but we could start by tossing about 537 people (and I use that term loosely) into the Potomac.

Quote:

Only trouble with that is that nobody wants to be at the front of the line, because there'd be room for a few of us. But I like the way you think.

Quote:


But think of the bottle necks in the court rooms at they try to take each and every one of the American taxpayers to court, while we demand to be represented by a Public Defender at the cost of the Government. 

It would be mass chaos.  Ohhh I feel so EVIL....(pinky at the corner of my mouth)

Ok, here's another way to REVOLT -- what if... several million taxpayers filed a class action lawsuit against the Federal Government and Congress (esp Congress) for Taxation Without Representation.

These guys (Congressmen and Senators) have been shooting their mouths off on TV for days now that they're overrun with phone calls and e-mails against the bailout plan, yet they're going to vote it in. That's Misrepresentation if I ever saw it.

The American people are holding a "tea party" (symbolic) around the country protesting this bill, yet it's going thru just the same -- that's Misrepresentation.

If some group of smart lawyers would get together we might get that $245. up to $245,000 before it's over and some taxes lowered.

Oh well, it's a thought...

Hugs BD