The Birk (bailout)Plan
ChairMan
The Birk Plan
Hi All,
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 "We Deserve It
Dividend".
To make the math simple, let's assume there are 200,000,000 bonifide 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. Maybe???
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.
Pass it on!!
Zilbandy
On Mon, 29 Sep 2008 16:56:59 -0500, "ChairMan" <wh...@fu.com> wrote:
>My plan is to give $425,000 to every person 18+ as a "We Deserve It
>Dividend".
I'd be double checking my math, if I were you. :)
--
Zilbandy
Dave
"ChairMan" <wh...@fu.com> wrote in message
news:48e14fe9$0$4926$9a6e...@unlimited.newshosting.com...
>
>
> The Birk Plan
>
> Hi All,
>
> 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 "We Deserve
It
> Dividend".
>
> To make the math simple, let's assume there are 200,000,000 bonifide 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.
Interesting idea, which has a huge flaw in it. We don't have 85 billion.
In fact, we are in the hole to the tune of many Tens of TRILLIONS. But if
we had 85 billion? Yeah, I like your idea. Too bad it won't work, no
matter how many people support it, as it's not mathematically possible.
That is, unless we immediately stop all spending on everything. But even
then, we'd have to tax everybody $425K, before we could turn around and give
everybody $425K.
Simply, it won't work. -Dave
clams_casino
That's the same math that got all the banks into trouble.
Hopefully Obama does something about upgrading the US education system.
Marsha
>
> Hopefully Obama does something about upgrading the US education system.
I don't think it's as much of an education problem as it is a lack of
family structure and personal accountability problem.
Marsha/Ohio
Dave
"Marsha" <m...@xeb.net> wrote in message news:gbrohg$s40$1...@news.datemas.de...
No, I see it as a "no connection to reality" problem. If someone thinks we
have 85BN or 700BN just sitting around waiting to be spent on bailing out
irresponsible financial corporations, or to be re-distributed to the
taxpayers, or whatever...
They obviously aren't living on THIS planet. :) -Dave
clams_casino
Obviously you have no concept of what's going on - the problem or the
proposed solution.
Ignorance may be bliss, but potentially dangerous.
Rod Speed
Or they have enough of a clue to realise that another great depression
or worse is absolutely guaranteed to cost a hell of a lot more than that.
Dave
we
> >have 85BN or 700BN just sitting around waiting to be spent on bailing out
> >irresponsible financial corporations, or to be re-distributed to the
> >taxpayers, or whatever...
> >
> >They obviously aren't living on THIS planet. :) -Dave
> >
> >
> >
> >
>
> Obviously you have no concept of what's going on - the problem or the
> proposed solution.
OK, enlighten me. Where will the U.S. government get $700 BILLION without
borrowing it from other countries, like China, for example? Temporarily
moving the funds from other line-items doesn't count, as then the money will
STILL need to be borrowed from other countries, eventually.
>
> Ignorance may be bliss, but potentially dangerous.
And the proposed solution bears a striking resemblance to the irresponsible
financial behavior that got the banks in this mess. Talk about ignorance
being potentially dangerous! Indeed... -Dave
clams_casino
>>>No, I see it as a "no connection to reality" problem. If someone thinks
>>>
>>>
>we
>
>
>>>have 85BN or 700BN just sitting around waiting to be spent on bailing out
>>>irresponsible financial corporations, or to be re-distributed to the
>>>taxpayers, or whatever...
>>>
>>>They obviously aren't living on THIS planet. :) -Dave
>>>
>>>
>>>
>>>
>>>
>>>
>>Obviously you have no concept of what's going on - the problem or the
>>proposed solution.
>>
>>
>
>OK, enlighten me. Where will the U.S. government get $700 BILLION without
>borrowing it from other countries, like China, for example?
>
For a start, they aren't simply handing out $700M as you imply. They
will be using that money to buy assets & hold them off the market until
the economy improves. By holding those assets, there will be
significantly less pressure on homeowners to walk from their mortgages,
less pressure in forcing home owners to sell and allow banks to lend
where money is needed (most businesses borrow for inventory, etc).
If / when the economy improves, there is actually a potential to make
money on the resale of those assets. If the economy continues its
downward spiral, it won't matter much anyhow. The purpose is to lessen
/ bridge the trough of the current recession. The deeper the trough,
the longer it will be before there will be a recovery - possibly 10-20
years vs. a few years.
Dave
> >>Obviously you have no concept of what's going on - the problem or the
> >>proposed solution.
> >>
> >>
> >
> >OK, enlighten me. Where will the U.S. government get $700 BILLION
without
> >borrowing it from other countries, like China, for example?
> >
>
> For a start, they aren't simply handing out $700M as you imply.
No, the figure is 700Billion. But I'll cut you some slack, as I'm sure that
was a typo.
> They
> will be using that money to buy assets
Which have no monetary value, as they are backed by bankrupt and mis-managed
financial institutions.
>& hold them off the market until
> the economy improves.
And when do you think THAT will be? Optimistically, I'm guessing I won't be
alive to see that happen. And that's the optimistic viewpoint. The
realistic viewpoint...unless we radically change our FORM of government
(like converting to direct democracy for example), then the same-old
same-old is going to keep this economy in dire straits indefinitely.
> By holding those assets, there will be
> significantly less pressure on homeowners to walk from their mortgages,
> less pressure in forcing home owners to sell and allow banks to lend
> where money is needed (most businesses borrow for inventory, etc).
Now see, we are going to disagree on whether this 700BN bailout is a good
idea or not. But what you have not failed to consider yet is, even if we
were stupid enough to do it, would it help? The simple answer is, even
though 700BN is a huge chunk of change, it is nowhere NEAR enough money to
prop up the economy in the way that you seem to think it will. To do that,
you'd need to think in terms of (what's after trillions????????????????????)
>
> If / when the economy improves, there is actually a potential to make
> money on the resale of those assets.
No, you can't make money from selling assets of bankrupt financial
institutions. This should be self-evident, no explanation necessary.
Again, the 700BN won't prevent these corporations from going under, just
delay it a bit. Possibly.
> If the economy continues its
> downward spiral, it won't matter much anyhow.
Finally something we agree on.
> The purpose is to lessen
> / bridge the trough of the current recession. The deeper the trough,
> the longer it will be before there will be a recovery - possibly 10-20
> years vs. a few years.
And a measly 700BN won't bridge anything. -Dave
clams_casino
>
>No, you can't make money from selling assets of bankrupt financial
>institutions.
>
Hm - I wonder why Warren Buffet has invested $5B in Goldman Sachs. I
wonder why Citigroup has bought up Wacovia bank?
Obviously they don't know what you know.
terrable
"ChairMan" <wh...@fu.com> wrote in message
news:48e14fe9$0$4926$9a6e...@unlimited.newshosting.com...
>
>
>
> Hi All,
>
> 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 "We Deserve
> It Dividend".
>
> To make the math simple, let's assume there are 200,000,000 bonifide 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.
>
Any 3rd grader would tell you that "divide 200 million adults 18+ into $85
billon" equals only $425 a person.
** Posted from http://www.teranews.com **
Dave
>
> Hm - I wonder why Warren Buffet has invested $5B in Goldman Sachs. I
> wonder why Citigroup has bought up Wacovia bank?
>
> Obviously they don't know what you know.
Do you know that either of those corporations will be solvent in 10 years?
I don't. -Dave
clams_casino
I don't know that I'll be alive in ten years.
Nevertheless, I'll trust Citigroup & Warren Buffet's move with their
money plus the opinions of every significant leader of financial &
government concerns rather than your Herbert Hoover approach to the
situation.
Outside of Ron Paul, is there any significant person against the rescue
package? Even those house and senate leaders voting against it mostly
admit it's the right thing to do, but are concerned that their ignorant
base back home make vote them out of office next month if their cast a
vote in favor.
George
But Warren Buffet got to cherry pick buying what he wanted under his
terms. He just didn't throw a giant bag of money out the window to buy a
giant bag of unknown stinking turds. Citigroup got something cheap with
the taxpayers as a backstop just in case in goes wrong written right
into the deal.
Rod Speed
> clams_casino wrote
>> Dave wrote
>>> No, you can't make money from selling assets of bankrupt financial institutions.
>> Hm - I wonder why Warren Buffet has invested $5B in Goldman Sachs. I wonder why Citigroup has bought up Wacovia
>> bank?
>> Obviously they don't know what you know.
> But Warren Buffet got to cherry pick buying what he wanted under his terms.
So does the govt. Even you should have noticed that they didnt bother with Lehmans.
> He just didn't throw a giant bag of money out the window to buy a giant bag of unknown stinking turds.
Neither is the govt proposing to do anything like that.
> Citigroup got something cheap with the taxpayers as a backstop just in case in goes wrong written right into the deal.
So has the govt.