The Birk Economic Recovery Plan---so Simple......
Sometimes things can be so easy.............
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 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 have $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.”
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.
Kindest personal regards,
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!
Did anyone watch Henry Paulson, (the US Treasury Secretary) who asked for $700,000,000,000 to save the US economy last Friday, turn up on Monday and be interviewed by the Senate and House banking committees on how he would spend it?
Paulson turned up to the committee on Tuesday morning with only the briefest opening statement, which simply repeated what he had already said the week before: the sky was falling and the only way to stop it was to give him authority over $700 billion in public money, to be spent in unspecified ways!!! Paulson just waffled - “we will ask experts to advise us”, and “we will get the best and brightest financiers to suggest ideas” - and slowly the terrible truth dawned. There was no such thing as a Paulson plan, and not only did Mr Paulson not know what he was doing, he did not even know what he was talking about.
Henry Paulson is to Finance what King Kanute was to Sea Defence!
(I paraphrased a times article there but i saw the interview and thats exactly what happened)
Have a plan and stick to it
It's horrible. I would like for one of these politicians quote the wording in the constitution that allows the government to intervene in the economy. We have a government with enumerated powers, not enumerated restraints.
And besides, the implication of all this new socialist rhetoric is that free market capitalism is fine and dandy as long as home prices are going up and everyone's retirement accounts are appreciating, but if there's ever a glitch, even for a couple of quarters, the government is going to come in, seize control of companies, and prop up failed businesses.
You can't legislate the business cycle out of existence. Congress can't pass a law saying that the Dow will increase at the rate of five per cent per annum, and home prices at eight per cent. Whether they try to do this directly or indirectly, it is still impossible.
Islam delenda est
"Merely having an open mind is nothing. The purpose of an open mind, like that of an open mouth, is to close it on something solid."
Hi I'm new to this forum, don't wanna get off on the wrong foot or anything but am I the only one who noticed 85b/200m = 425 not 425k? Or was that part of the joke.
p.s. Hi everyone
I think it depends whos definition of what a Billion actually is, but even then your right it still doesnt add up, hmm who knows.
Have a plan and stick to it
Er yeah maybe it was a joke I dunno to be honest whether it was tongue in cheek or what
But yeah re the bailout business... wtf... fair play to congress for wanting to limit the amount of bonuses anyone from the companies that benefit from the bailout will get.
Today's speech by Bush was very reminiscent of the one he gave about 'you're either with us or you're a terrorist' speech - from what I heard of it it sounded as though he was effectively saying 'either agree to let us write a blank cheque, or all your jobs will disappear, your house price will fall through the floor and we'll be in recession for the next 5 years'.
If I'd known Bush was giving a speech on the economy I would have put in a spread bet on the DOW falling...
The worrying thing is there really is no solution. There is no end in sight, this is still the beginning, there are not actually dole queues etc lining the streets yet. When that hits, God knows what will happen.
Have a plan and stick to it
I'm pondering over what to do with my investments at the moment... really it's a year to late to bail out into cash, just a matter of holding on tight, having a 5-10 year outlookand going with the rollercoaster ride....
Once upon a time i lost a small fortune in some very rash share purchases. Damn dot com bubble! I had been over the Summer seriously considering getting into Banking stocks as they were at multi year lows and had halved, so were "cheap", fortunately i dodged that bullet remembering my last foray and that cheap crap is still crap, the banks have halved again since.
I am now, again, thinking of moving some of the cash i have which is being eaten away by inflation (take note BoE you have ONE JOB!!!) and moving into gambling related shares. Ladbrokes and WillHill are both FTSE 250 companies and have dividend yeilds over 6% each and it is well covered, they are cheap on fundamentals and you would think "safe". More speculative are Sportingbet and Partybets which both look attractive but are medium risk given the sole exposure to online income but at the same time they will double quicker on any upturn. Then there is LNG which owns betshop.com and is Uber cheap BUT there is a very real chance you might lose everything, on the flipside with any upturn and a decent set of results they will double in a day and could 10x in a year from current prices.
Its tempting, but there is a lot of choice out there just now, and so far doing nothing has definitely been the best decision i have made!
Have a plan and stick to it
My money's in a portfolio of funds spread across pretty much every sector really, 10 different funds ranging from gold/mining/north american/european/hedge type/gilts/emerging/bric... yes diversify they say... all good until every sector gets hammered at the same time
I invested at totally the wrong time as well right at the top of the market back around August 2007 so not a hugely happy bunny, but am in it for 5-10 years so keeping an eye on things but not massively worried about the 20% drop, it is a med-high risk folio and should pick up ok at some point in the next year or two(!).
Hindsight's a great thing eh, wish I'd stuck the lot in a savings account, would have done a lot better than it has... good on you being in cash... dunno if I'd be going into banking stock just yet personally looks pretty weak still what with all this mess going on but pretty soon it's gonna be looking good value for sure. Gold's also dropped a long way from it's high of recent times, although again that's pretty tentative/delicate, ditto commodities.
Maybe you're right re gambling stock... look out for Betfair IPO and jump onboard