Thursday, September 25, 2008

no bail out for corporate thieves

as we prepare to get the great grandchildren's credit cards out and reward some of the biggest criminals the world has ever seen, a few people from across all political positions joined together at Bellingham city hall and marched to the federal building.

Hundreds of Economists Urge Congress Not to Rush on Rescue Plan
By Matthew Benjamin
Sept. 25 (Bloomberg) -- More than 150 prominent U.S. economists, including three Nobel Prize winners, urged Congress to hold off on passing a $700 billion financial market rescue plan until it can be studied more closely.
In a letter yesterday to congressional leaders, 166 academic economists said they oppose Treasury Secretary Henry Paulson's plan because it's a``subsidy'' for business, it's ambiguous and it may have adverse market consequences in the long term.
They also expressed alarm at the haste of lawmakers and the Bush administration to pass legislation.
full article

thanks to SueEllen for forwarding this bargain plan along.....

"We Deserve It Dividend"
This idea sounds just crazy enough to possibly work, so naturally it won't be given serious consideration. How great is our bureaucracy!! An $85,000,000,000.00 bailout of AIG??
Instead, how about 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 billion 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 do the geniuses at AIG or in Washington DC. And remember, this 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.

No comments: