"how to solve the economic crisis.."

Status
Not open for further replies.
noname

noname

New Member
I got this email from a friend of mine, in theory it sounds like a good idea to me.



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

legal 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 ( "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 I do the geniuses at AIG or in Washington DC .

And remember, The Family plan only really costs $59.5 Billion because
$25.5 Billion is returned instantly in taxes to Uncle Sam.



your thoughts?
 
Seeing as how the economic crisis was started by people taking out loans they couldn't afford or buying houses and cars they couldn't afford then no...I don't think it would help because they would just go and blow it on more stuff they can't afford. People aren't as responsible as many think...to quote the great Frank Castle "The human race. You've seen what that leads to."
 
tht idea is as unconstitutional as the bailout. It is not the Federal gov't responsibility nor are they even allowed to do anything like this under the US constitution. What really needs to happen is the gov't needs to get out of the business of regulating the financial system(and many many others as well). What was proposed about is nothing more than redistribution of wealth under the guise of a consumer bailout. there's another term for this kind of redistribution of wealth..socialism.
 
ill gladly take the money!
give 10% to my local church, another 10% to various missionaries, 10% to spend on wanted items and 70% to a CD or some interest savings acct.
That's what I do with my any kind of income and would treat this the same.
 
I don't mean this to jab at you, Ewok... but in general, what we do with our "a little" ... shows how we would handle our "a lot" This is why I think that that redistribution of the cash is a horrible idea.

If the masses are irresponsible and are already in debt over their heads, chances are that giving them more money will only repeat the cycle, but to a larger degree. Basically, if you have only $10 to your name, and you penny-pinch, then you'd likely do the same with $10,000 or even $10M.

So if you already tithe, 10% to missions, 10% on wanted items, and 70% to savings, then it is easy to say that you'd do the same with more.
 
Last edited:
I think most of this crisis was started by banks giving loans to people who couldn't afford them and fudging the numbers with ARMs, interest only mortgage payments, etc. That was great until the interest rates started adjusting and housing prices started fluctuating back down to a reasonable level and a lot of people ended up owing more than the house is worth and that caused a panic just like what happens on wall street when stocks start losing money, everyone else wants to abandon ship. I lost my job because of that, I was in the housing industry and we went from working on 100 houses a month to 6 or 7 and 75% of the company was laid off. Thats a lot of people that were living well within their means that is now in debt over their head because of a trickle down effect.
 
wow, that guy's math is epic fail.

200M / $85 billion = $425 dollars a person not $425,000.
 
The government in Alberta has sent us cheques in the past ie. to subsidize the natural gas prices (since it was taxes collected from the natural gas companies), and all I ever hear from friends is what they are going to buy with it when it comes. You don't hear that they applied to to their gas bill...they just treat it as a windfall (found monies). So yea....

I would definitely trust the people would spend it, but I hardly think it would help with people getting overextended in debt which if I understand properly is the underlying problem here.
 
Conversely if you want to talk about how America will (if/when/can) get out of debt. If the bailout package goes through it will raise our national debt to over $11 trillion dollars.

If everyone tax paying adult in the US was responsible (which we ARE. this is our debt - see video in sig) at 200 million people this is $55,000 each we owe to the private bank(s) called the Federal Reserve.
 
Hescominsoon said:
tht idea is as unconstitutional as the bailout. It is not the Federal gov't responsibility nor are they even allowed to do anything like this under the US constitution. What really needs to happen is the gov't needs to get out of the business of regulating the financial system(and many many others as well). What was proposed about is nothing more than redistribution of wealth under the guise of a consumer bailout. there's another term for this kind of redistribution of wealth..socialism.
Click to expand...

I'm not convinced that American Capitalism can save the US from its current financial crisis. It didn't in the '30, so why believe it will now? IIRC from my history classes, it was the Iron Fist of Franklin Roosevelt that brought about financial change during the depression, not the invisible hand of Capitalism.
 
i thought it was from counting baconz?

i know i support giving people money they didn't earn =/ i had a much longer rant written out for it, but i think that's generally what it boils down to...so we'll leave it at that.
 
Lloren said:
If everyone tax paying adult in the US was responsible (which we ARE. this is our debt - see video in sig) at 200 million people this is $55,000 each we owe to the private bank(s) called the Federal Reserve.
Click to expand...

Chances are, if you have a mortgage in the US, the government now owns a chunk of it.

*shrug*

I'll just keep working and giving my tax money to the government so they can hand it back out to the people that I serve. For those that are claiming this is a step towards socialism, take a serious look at welfare in it's current application. I work in a suburb of ~20,000 people. Of those that I see (because they have fire/medical "emergencies") I'd wager that 70% of them are on Medicaid or State funded welfare systems.

Some of them can't work because they are 25 years old and work just stresses them out too much, so they sit at home (in a place that welfare pays for) eating cheetos (that welfare pays for) playing Xbox Live on the big-screen (that drug monies paid for) and neglect their kids (that I pay for). I almost feel bad for them. We already have socialism. You may not see it, but it's there.
 
There are lots of reasons against this but the most obvious is that sort of money given to everyone would simply drive up inflation and mean that for the most part people would have more money but things would cost more to buy. In essence this could result in people being worse of than had they not got the money at all.
 
Gods_Peon said:
I'm not convinced that American Capitalism can save the US from its current financial crisis. It didn't in the '30, so why believe it will now? IIRC from my history classes, it was the Iron Fist of Franklin Roosevelt that brought about financial change during the depression, not the invisible hand of Capitalism.
Click to expand...
we have not had the gov't acting within it's constitutional boundaries in nearly 150 years. fdr wasn't a capitlist but a closet socialist...the debts from his criminal violation are jsut now catching up with us. What needs to be done is everything hte gov't is doing that is in violation of the constitution needs to be instantly eliminated.
 
Status
Not open for further replies.
Back
Top