The LuLac Edition #585, Sept. 28th, 2008
PHOTO INDEX: OUR TOP 40 ISSUES LOGO AND A FISTFUL OF CASH. ARE WE SAVING IT? HIDING IT UNDER OUR BEDS OR GOING TO PUT IT IN THE BANK?
THE FINANCIAL CRISIS
This thing has taken on a life of its own. It appears that there has been a deal struck to get us out of this deadlock. At noon today the details will be released which will only engender more debate. But I recieved some information the past few days that I'd like to put up on this site as a way of being fair but giving you the entire political spectrum of this issue. Here we go:
The knee jerk reaction of blame on this thing, the financial bailout, has been to blame the party in power but like many complex issues, the time line on this goes back more than one administration. Here's a video that has been on YOU TUBE that gives food for thought. The McCain supporters who read this blog/site will love this, the Obama people not so much.
Watch this video. This is amazing. This tells me what I knew in 2000 when my house was foreclosed on and I blamed it on the Clinton administration and everyone called me a knee jerk Republican Conservative. What they didn't realize is all of the mortgage activity in this video was done to me. I went from owning a new house, in 1996, with a $980 month mortgage, to having it sold by Fannie Mae, and subsequently, three times to different banks, who changed the rate and, voila', three years later, my mortgage was $1350. I feel so vindicated. AND SMART! If you're a democrat, you're an idiot. I saw this stuff as early as 1997, when my Fannie Mae, supported by Biden, mortgage was sold to Chase, and the mortgage went up to $1100 due to Fanny Mae's policy of guaranteeing any fool with a pulse a mortgage, then selling it off to the highest bidder. No one listened then. I suppose the aggregate of our population is too stupid to understand that, as a minority president, Obama will still throw your taxpayer dollars to all of the low income, minority "ne'er do wells", via that stuff initiative started by Jimmy Carter (another well-intentioned, but ignorant ass, who had to have Ronald Reagan bail his sorry ass out) in '79 or '80. PUT IT DOWN: CHAP CALLED THIS IN 1997... This ought to make any Republican worth his sack mad as hell. From The Chap: Tampa Florida.
Why should the big boys get the tax bailout? I recieved an e mail making the rounds saying that if that billion dollars was distributed to you, the average American, the problem would be solved. The reason we got into this mess was because of no oversight for the Wall Street pigs that just wanted to get richer. What better oversight is there in this country than a family trying to make a budget? The solution proffered here is to give every American $450,000 bucks and have them spent it on themselves. I'd amend that a tad, I'd give every taxpaying family $425,000. They'd have to have a ten year record of paying all taxes with no penalties and must file a billing report on what they spent the money on. Anyway, you have my addendums, here's that e mail:
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
My plan is to give $425,000 to every person 18+ as a 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 Lehmann 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 US 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 plan only really costs $59.5 Billion because
$25.5 Billion is returned instantly in taxes to Uncle Sam.
ELECTION TOP 40
HANDS TIED #37
Whether John McCain or Barack Obama becomes President, one thing both will have in common is this: their hands will be tied. This incoming President will have very little wiggle room and very little room for innovation. And little margin for error. Look at what he will be facing:
1. Limited income. Our budget is taxed to the max. The deficit is so high I personally see no way out of it. We are in reality a true debtor's nation. With the financial bailout of 700 billion dollars, there will be little room for creativity in government. The new President will be akin to a maintainace man trying to keep the lights on.
2. Our military is stretched to the limits given the disaster in Iraq, the way the returning vets have been treated on their way home as well as a dwndling pool of people wanting to join up.
3. We are surrounded by foreign policy challenges, threats might be a better word. A resurging Russia, an emergence of China as a super power of major means, a technological energy in Southeast Asia as well as the problems in the Mideast including the continuing committment to Iraq, the presence of Iran as well as the North Korean component presents problems that no President can deal with until he is faced with a situation from any one of these nations. In a campaign there is no way to predict what pot will boil over in what particular part of the world.
4. The bottom line is the next President will be faced with problems on a foreign and domestic level that even a Lincoln, or Franklin Roosevelt didn't have to face. And as mentioned earlier, he'll be doing it with very limited resources.
From Patty Smythe, You Tube: "Hands Tied".