Posted on 09/24/2008 1:57:04 PM PDT by counterpunch
SOURCE: House Republicans met in am: Just 4 members support Paulson plan...
Note to Bernanke: Looks like you'll have to drop a bigger hint.
“John Boehner is a good guy”
I’m not sure any of them are **GOOD** guys or gals....this last couple of weeks, anyway.
Hopefully, the majority of the Republicans in the Senate will be against it, too, and they can filibuster it to death.
Hopefully McCain won’t come out on George Bush’s side.
Thanks for posting. Extremely interesting. Where’s Pat Paulson when you need him? /sarcasm
Hmmmm, all Wall Street types. Do you really think they would be against something that stands to be one of the biggest handouts to millionaires/billionaires in history? Asking those who got us into this mess with their unconstrained greed to come up with a solution is downright stupid. It is also stupid to believe the incredible "the sky is falling" scare tactics these same grifters are pushing to force us to give them the money quickly, without thinking.
NO!
If you really believe that a Republican in the White House will NOT get the blame, no matter what reality is, then you’re drinking kool aid. McCain’s numbers already turned down based on last week’s financial unrest.
What is your plan to get out of this mess.
Well, if was looking out for Number One, and considering the position I’m in (I rent, 99% of assets are highly liquid), inflation is my enemy and a continuing decline in the prices of equities and real estate means I can buy once we bottom out.
A crash, frankly, would benefit me in the long run.
From the 2008 Republican Party Platform, ratified only a few short weeks ago:
“We do not support government bailouts of private institutions. Government interference in the markets exacerbates problems in the marketplace and causes the free market to take longer to correct itself. We believe in the free market as the best tool to sustained prosperity and opportunity for all.”
We’ll soon see if the Republicans stand for what they say or not.
Cramer???
CRAMER????
Cramer the tout???
That son of a b***h is so crooked he'll have to be screwed into the ground when he dies. Makes Dodd and Frank look like novice nuns.
Don't get me started on Kudlow, either, another one of the reinflate-the-bubbles-with-benzedrine guys, still trying to pump his pets.com shares back up to $50.
Forbes on the other hand I will listen to, if you have a link to what he's saying.
That statement needs to be phoned, emailed, mailed, hand delivered, faxed or telegraphed to each and every Republican congresscritter, oh, about 200,000 times each.
No....no bailout. Socialism is never the answer no matter who is doing it
If this bailout passes....McCain loses, easily. He can forget any independent voters, and Obama will rant on about McCain and the “bailout”
Actually, from what I hear from what Dems call “low information voters”, both parties are blamed.
But the president gets blamed for what happens on his watch, that’s the way it is.
I point out it was Bush, not the Dems, who tried to push through protective regulations on the Mae-s. Democrats blocked it. He doesn’t advertise that, I don’t know why.
Paulson=Goldman Sachs.
Perhaps the “real story” is buried in that issue about stopping short trades. That was drastic. Perhaps the real story is all the financial houses went deeply “short” and their return is coming soon. This is what the current plan is intended to circumvent.
There are also foreign pressures, all those central banks that have been buying American funny money derivatives. Bush, clearly, is responsible for the deficits that he needs these countries to continue to finance. But the “housing market”, really the derivatives market, is what appears to be in “crisis”.
Someone needs to inform the dufus, Linseed Graham, who’s on FOX right now claiming we have to do something quick about the “Financial Pearl Harbor,” that we declared war on the perps that time and nuked them. It could be done again!
Can they get behind this plan I got in email?
Subject: 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 bona fide 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
Inves t 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 Genera l.
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 Pa rty!
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
PS: Feel free to pass this along to your pals as it’s either good for a laugh
or a tear or a very sobering thought on how to best use $85 Billion!!
P.P.S. Even if the number is 250 million adults, the share is $340,000 gross each!!!
($238,000 net after that estimated 30% federal tax rate)
Your state and local governments will want “their share” too, but think of all
the pre-financed public works projects that could get done. More jobs!
Repave streets and upgrade utilities—that needs labor, and equipment and materials.
This is way better than “trickle-down” economics—it would be “tidal wave” economics!
Make sure the $25 billion that goes right back to Uncle Sam gets used for debt reduction.
PPPS—I heard on the radio that the total of all recent and potential near-term bailouts may reach $500 billion. Put another way, half-a-trillion dollars. Or 500,000 million!
(the US Congress, of course, being the perps this time.)
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