Send every citizen $7,000 - Trickle up economics bail-out plan

reply to post by Crakeur


...and then, there's the $25,000,000,000 [that's billion] in the works for Detroit's Big 3 automakers.

Michigan has unemployment rates around 8.9%; this can only help this depressed region. Also, this is a loan, so just maybe it'll be repaid.

OP, outstanding post! Brought a grin to my chagrined face.

[edit on 9.25.2008 by ItsTheQuestion]

[edit on 9.25.2008 by ItsTheQuestion]

Hell yeah! Im with this! We should ALL Send them this message and tell them to BAIL us out of our own Debts!

How far do you think, that $25,000,000,000 would go, to finding alternate sources of energy and making cars that don't cause pollution?
But of course selling the oil makes everyone hail the leader and they don't want to lose there grip on that now do they.

reply to post by Interestinggg


Funny you mention that. Detroit has some of the least-efficient public transportation I've ever seen for the very reason that the Big Three [to say nothing of the oil men they're in bed with] want metro Detroiters to buy vehicles!

reply to post by whatukno


Umm I dont think he was counting every man woman and child ......

100 million tax payers sounds about right, 1/3.....

Unless you have a child labor ring going on

Originally posted by Darthorious
What might be better is give homeowners the money they need to pay off their houses which would pull them out of debt plus place the money back into the hands of the agencies that are falling and causing this whole mess therefor remedy'ing it this time.

Why do you feel that its the rest of the countries job to pay for someone else's house, when they did not use common sense to buy within their means? Maybe I should go out and buy a $6 million dollar house quick before your version of the bailout happens, so I can get a free, expensive house as well.

Originally posted by ItsTheQuestion
...and then, there's the $25,000,000,000 [that's billion] in the works for Detroit's Big 3 automakers.

The automakers mismanaged their money almost as badly as these other businesses did, and this is coming form someone who used to work for one of them. I have never seen another industry where the employees felt that they were owed a six digit salary, benefits, tremendous amounts of time off, expensive toys, and tons of time to be playing around at work. Medical people, who save lives every day, don't have it as good as janitors at one of the automotive manufactures do. All of Detroit's economics were centered around the big three, and the abuses of the unions and employees made it impossible for them to build viable and competitive products based on the overhead due to these abuses. IMHO, the people there bit the hand that fed them, and now want to wine about it when the bill comes due. It is not the governments job to bail out any of these failing corporations, and it is not wise to do so either. If you bail them out they will continue on the same course, if you let them fail, they will be replaced with successful corporations that hopefully learn from their mistakes.

reply to post by In nothing we trust


Voted single best opening thread post on ATS in my entire time here!

I also would fully support such a plan if the Gov would propose such a thing (though America has three times the amount of citizens you said, 100 million, so it wouldn't be as much.)

reply to post by defcon5


As the son of a UAW guy who retired out of the biggest local in the world, I hear you loud and clear. The sense of entitlement among many of the persons my old man worked with [if you can call what his co-workers were doing "working"], plus good ol' American laziness and greed really makes it no surprise that Detroit's asking for this loan.

That all said, placing the blame mainly at the feet of labor is a short-sighted reaction. Corporate greed has, as you alluded to, really led to this top-down crumbling of America's finances.

Stay tuned...

[edit on 9.25.2008 by ItsTheQuestion]

starred and flagged...now if only there were someway to make this into reality...(very good and creative post)

I sent it to my Senator.

That will make the third email he has received from me in as many days.

Its a great letter though, I think I am going to try to find a way to post it on CNN's comments thingie.

I would LOVE to hear that read over the MSM.

reply to post by AHostileMe

Excuse me. But everyone pays taxes. Just because u don't work doesn't mean u don't. Tax on shampoo,soap, car license,advil, internet service, satellite, telephone, gas etc well u get my drift.

Originally posted by whatukno
unfortunatly your math is incorrect. There are 300 million people living in this country so the math would work out like this...

200 million people don't pay tax.

reply to post by ohioriver


Much of those taxes are to your local governments. You have to send them a letter in a different envelope, probably asking for a little less.

[edit on 25-9-2008 by AHostileMe]

Originally posted by whatukno
unfortunatly your math is incorrect. There are 300 million people living in this country so the math would work out like this...

$700,000,000,000.00 / 300,000 = $2333.34

But ill send my senitors your letter as well

I think everyone should. Wall street screwed up, not the American taxpayer, why should we be bailing out failed businesses.

The collapse of these businesses will not affect me, I can assure you of that, I have no home for them to forclose on, I have no pension to not get. So if they collapse who am I to care?

[edit on 9/25/2008 by whatukno]

He said taxpayers.

Awesome, awesome, awesome!

Trickle-up economics! I LOVE it! I will be sending that out! Thanks soooo much for your humor and your idea.

reply to post by cognoscente


Everyone who works pays taxes.

Maybe not Federal Income Tax...

But everyone pays the Medicare Tax, Social Security Tax, Local Tax, and State Tax..

Sure, not everyone owes the Fed money at the end of the year, but that is only Income..

I have met few people who got every penny back from local and state, and not a soul gets reimbursed for Medicare and Social Security Taxes...

Why do people not call those two items taxes? Always mystifies me.. you calculate % of income taxed by Income, SS and Med should be included in the %.

Whilst this sounds a nice idea and may at least bring some short term pain relief on an individual basis, the reality of the economics is that this would likely cause hyper inflation, ie vast increases in prices. How much higher can you afford for the price of essentials like food and utilities to go? What if there is an overnight, huge jump in prices? And, mortages for that matter. Inter-bank interest rates, and therefore commercial interest rates will sky rocket and US banks will struggle to survive liquidity issues.... which they already have been struggling with anyway because they rely on borrowing from each other, foreign banks and the central bank, just to stay open!

Flooding the market with dollars will make each dollar worth far less, particularly in the eyes of other countries around the world. Imports will feel extortionate in price - there will be food shortages - Medicare will go bust and require massive increases in budget to cope, or fold. This combined will lead to unrest, and it could be on a mass scale if it carries momentum or is prolonged. There will no doubt be some severe pain on an individual level one way or another if this happens. Still want short term pain relief??

Alternatively, the money is leant to the banks, and the above happens anyway as they perpetually pump money into the system! It is inevitable - and this needs to be accepted. Even if neither of these solutions is opted for, the whole lot will come tumbling down. Is this bad?? If either IS adopted, tax-payers will be paying the bill for years to come. The children of America will still be paying this tax, the nation's people, will be poor. On top of paying much higher prices NOW AND IN THE FUTURE

Solution:

Do nothing, let it collapse.
Short term chaos ensues.
[unless the FINANCIAL SYSTEM ITSELF is changed before collapse]
Zero personal debt.
Chaos calms a little as people find hope, and certainly feel at least some relief, [or people are relieved overnight before chaos]
Revert to Treasury dollars rather than federal, pay the national debt in new T-dollars.
Pay employees of defaulting companies a redundancy, made payable by the Treasury in Treasury dollars - new companies will spring up through demand which will continue to exist, jobs will soon be created and America will become an entrepreneurs dream once again.
Replace deposits with T-dollars.
Taxes to be controlled by the Treasury.
No need for high taxes to pay back loans to bail the banks or the people out! This means a wealther Society. The economy could bloom.

The pain would be short term, I would hope, in this situation. Anyone agree?

And, hopefully, the mistakes of the past will be remembered moving forward. Power, governmental or legislature power, must be spread out. Get congress and the Senate to start doing their jobs, or new, fresh congressmen instead. They are responsible as much as the bankers themselves, either through ignorance or through compliance.

This was the crux and purpose of The Constitution. To ensure freedom of oppression by government, foreign or domestic, any third party or company, and moreover freedom for the people. The exectuive branch should be just as it says, A BRANCH. It should not have ultimate power. Congress has allowed it this, and should be replaced.

Another key point is that central banks should not be privately controlled (I have no intention of trying to proove this here, but just consider it a possibility, as I do). Money supply must only be manipulated for the benefit of the people, never a private group. And more regulation for the banks, less for the people, surely?? These things are services, they're here to serve the people.

In short, just get rid of the FED, and keep it simple, with the nation, via the Treasury, printing its own money.

So, that's my perspective anyway... let the whole thing come tumbling down and start fresh, and everyone will feel better in the morning

I'm not American, but I'd like to save this letter, and send it to politicians in Canada once your economy crashes, causing ours to crash, since we have so many ties with your big businesses!

Starred & Flagged.

Great post, well thought out, and downright hilarious.

reply to post by Rockpuck




Not everyone works.

Children, stay-at-home parents, unemployed, under-the-table employees. Sheesh, don't you people get it. It's not that hard. Not every single citizen in the US of A works and pays taxes.

reply to post by In nothing we trust


I Thank you , your My type of person I have`nt a clue on how things may go? I am sorry if they do not go your way God Bless ya Paddy Boy! # the Kill Zone`s of the brit`s.