Washblog

Bail out taxpayers and let the money trickle up

It's cold, wet and snowy here in  the Pacific Northwest.  I can't go anywhere or do anything so I thought I'd tackle this bailout thing.

Currently literally billions of dollars are going to financial institutions, apparently no questions asked.  These institutions are using  the money to do such things as pay dividends, offer their top management big salaries, bonuses and gilded golden parachutes.  For the life of me, I can't figure out what these funds are doing now--today--to benefit the taxpayers providing those funds (I'm not too sure how that works either but will save my questions for another time).

And here come the automakers.  Just a few billion for a short term is all they need  to keep building cars.  So I've got problems with this too.  First, where are the cars being made.  I've heard that a lot of them are made in Canada and Mexico and put together here.  Second, who is going to buy the damn things.  Haven't the boys at the top of the auto industry heard that there is a recession going on?  People are losing their jobs.  Those  that are keeping their jobs can't get credit because the banks aren't granting credit.  They aren't even granting credit to each other.

OK, so if I'm wrong, someone please educate me.  If I'm not wrong, read MY plan.  Read my plan even if I'm wrong, its pretty cool.  Here's how it will work.

Let's bailout the people at the bottom; the taxpayer.

I've read somewhere that it will cost every taxpayer over $2,000 for the current bailout (some say more, a lot more).  So, instead of giving it to the people that got us in this mess (they should be given jail time, in my humble opinion) let's give each taxpayer $1,000.  There are, according to my googling efforts, about 135 million taxpayers.  Giving each one a grand will provide a short term stimulus to the economy.  But wait, there's more.

Remember the bailout will cost each taxpayer over $2000.  We've given each taxpayer a grand in fun money so what do we do with the extra grand per taxpayer?  

We have a national lottery where every thousandth taxpayer gets a million bucks, federal tax free.  But the million dollar winners must each pay off their mortgage (if they have one), their credit cards (if they have debt) and buy a brand new AMERICAN-MADE (made in America, not Canada, Mexico, Korea, Japan, Europe yada yada yada).   Paying off mortgages and credit cards will put money back into the system, buying new cars will do the same.  That means that out of 135 million taxpayers, 135,000 of them will get a million bucks.  That a lot of mortgages paid, credit card debt eliminated and shiny new cars on the road with the cost of the cars keeping us grunts working and spending.

So what do you think?  If you like the idea, copy this and spread the word to your friends and relatives and especially to those who can make this happen (congress).  If you don't like it,well, thanks for reading and drive safe.
 

< So What? | Flood! >

Poll

Should the bailout begin at the bottom
I like it and I will spread the word.
I like it but I'm too bummed to spread the word.
You are nuts and should go play in the snow.

Votes: 2
Results | Other Polls
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Tell Jackie I said hi.

If perception is reality, then the world must be flat and the sun must revolve around it.

by ivan on Sun Dec 21, 2008 at 05:16:00 PM PST

* 1 none 0 *


   It'd help with inventory. Keep the workers employed to rebuild inventory. Some of us would just sell it, putting money in the economy.
   Of course, we don't get to chose the make, model or color (maybe more money for Maaco:)

Dave Gibney Pullman

by gibney on Sun Dec 21, 2008 at 09:07:48 PM PST

* 2 none 0 *


Yes, we have lived for 28 years of a full court press of privatization and deregulation.

Our economy is like the 1890s, except while the rest of the first and second world has planned economies, we screw them all with a president who dangles a 700B parting gift for Wall Street to throw a tantrum.

The New Deal got us just so far, to be eclipsed by WWII.

How we manage the economy is the fulcrum on which the future balances - do we go for an economy that works FOR us?  I think the other ideology has been shown to be bankrupt, but the true believers will persist.  And, the damage will take years to undo.

In the meantime, Obama is talking over 700B in Ready to Go projects. Use it to put people to work or lose it.  And, other investments, perhaps Healthcare and Education?

Seattle is stuck in the old ways of thinking.  Having privatized as much as it can.  We don't have very much that is Ready to Go.

But, people are talking in the hood:
http://www.centraldistrictnews.com/2008/12/20/dear-city-leaders-please-think-big

by ktkeller on Tue Dec 23, 2008 at 01:10:56 AM PST

* 3 none 0 *


The problem is to make people PRODUCTIVE, creating real tangible value.  What is particularly offensive about the Repubs response to the bailout of the big three was that it was a full out assault on the unions.

We have persistent and deepening crises in whole families and communities.  The downward spiral of those who want to work and need a place to live, needs to be overcome in order to have a healthy populace and healthy communities.  That means education, work, affordable homes and healthcare.

Not some spending money and not a few people getting picked to get a bundle ala a bad sci-fi novel that includes a passive consumerist mind-controlled populace.

by ktkeller on Tue Dec 23, 2008 at 01:18:47 AM PST

* 4 none 0 *


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