AIG bailout alternative idea

[moosehunter]

An interesting idea, wish they would actually do it!!

Whoever T. J. Birkenmeier is, I sincerely salute him.

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 ( "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 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.

Birk
T. J. Birkenmeier, A Creative Guy & Citizen of the
Republic

 

[JNRBRONC]

The only flaw in this proposal is where does the money come from in the first place? One has to be in favor of running up the national debt for both plans. Both are essentially are a loan (running up the debt) that we and our children will have to repay in the form of taxes (assuming we want to balance the budget). Granted, if the national debt is run up, I'd rather benefit from it than the schmucks who run the AIG's of the world. /forum/images/%%GRAEMLIN_URL%%/crazy.gif

This proposal has more of a chance of stimulating the economy than the AIG bail out, IMO.

 

[teeroy]

i just heard this morning, that the big 750 billion dollar buy out that they are proposing has some stipulations. one, is that when they get the money, there can be no governmental investigation into how it gets used, no over sight committee reporting on what they do with it. we are supposed to cough up that unholy amount of money, to people that have so overpaid their presidents, and dozens of vice presidents, that they have run thier companies into the red, no questions asked.

wtf?

 

[bushman]

The major flaw is the math!!!!

$85,000,000,000 divided by 200,000,000 is actually $425.00. Someone failed basic math!!!!!

 

[Dewy]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: bushman</div><div class="ubbcode-body">The major flaw is the math!!!!

$85,000,000,000 divided by 200,000,000 is actually $425.00. Someone failed basic math!!!!!</div></div>

/forum/images/%%GRAEMLIN_URL%%/smile.gif

 

[moosehunter]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: bushman</div><div class="ubbcode-body">The major flaw is the math!!!!

$85,000,000,000 divided by 200,000,000 is actually $425.00. Someone failed basic math!!!!! </div></div>

Yeh, that was pointed out to me after I posted it. But the point is how much money this really is. I still have an azz ache over thier retarted 1K stimilus (vote for me) checks. I still say if the lawmakers are generous enough to pay us back 1000 bucks then why in the hell take it from me in the 1st place....... /forum/images/%%GRAEMLIN_URL%%/mad.gif

<span style="color: #FF0000"> </span> <span style='font-size: 20pt'><u>MORONS</u></span>...........

 

[THA4]

i will take it!

 

[Doubleaarc hery]

If anyone else has ever filled out paper work for an SBA loan or any other type of loan then you have an idea of the paper work that "Small" America goes through...

Wonder if this "plan" was created with a handshake.........

 

[avidhunter]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: teeroy</div><div class="ubbcode-body">i just heard this morning, that the big 750 billion dollar buy out that they are proposing has some stipulations. one, is that when they get the money, there can be no governmental investigation into how it gets used, no over sight committee reporting on what they do with it. we are supposed to cough up that unholy amount of money, to people that have so overpaid their presidents, and dozens of vice presidents, that they have run thier companies into the red, no questions asked.

wtf? </div></div>

You must have heard wrong. Both parties want strict oversight, run by a bi-partisan board of financial gurus. Giving the money to the masses is also not the best answer. The argument they make with regards to the bailout is that they can recoup most of it having stabilized the economy and later reselling the assets (which is what happened in the S&L bailout in the '80s, except then they actually turned a profit). The trouble now is that the asset quality is VERY poor in many cases /forum/images/%%GRAEMLIN_URL%%/frown.gif

 

[DOR]

Bail out = More taxpayer debt...not good
No bailout= 401k's go into sh!tter. Also not good
Either way you will get vaselined

 

[moosehunter]

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body"> Either way you will get vaselined
</div></div>

No. I think were takin' it with no lube........

 

[Fishbonker]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: moosehunter</div><div class="ubbcode-body"> <div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body"> Either way you will get vaselined
</div></div>

No. I think were takin' it with no lube........

</div></div>

Yup, dry as the desert and no reach around.

I caught about two minutes of slick Willy on Letterman a night or two ago. He sure sounded like a republican with his create jobs pitch. It was his treasury secretary that lead the charge for a blurring of the line between what financial institutions could and couldn’t do. His “deregulation” is now why State Farm offers banking services and your bank can package insurance.

We got this way because too many people were trying to make money from money and not creating anything tangible or “hard goods”.

So where is my bailout? What is my reward for playing by the rules? I feel bad for anybody facing foreclosure but if the offer of a ridiculously low ARM or second mortgage sounded too good to be true it probably was. The low ARP/ARM was, in my opinion inflationary in and of itself. If you could afford the payments of a 30 year fixed at 200K borrowed why not take a chance on the lower ARM and buy a bigger house for 250K and roll the dice in 5 years? The dice came up “7 out”. By inflationary I mean that builders, sellers and bankers could charge more because borrowers could qualify with lower debt to income ratios.

Don’t get me wrong, I don’t profess to know exactly why the financial institutions are in the situations they are in, I just know I’m gonna take dry and I’m not gonna like it.

The ‘Bonker

 

[nelsonM]

It was reported that after all was said and done, the bailouts done by the government were likely to turn a profit. That has just been confirmed, as part of the last of the government’s stake in AIG was recently sold and made for almost $18 billion in profit from the AIG bailout.