[Vision2020] Rescue Bill Revealed

Sun Sep 28 16:19:19 PDT 2008

I love the way last Tuesday's "The Oregonian"  broke down $700 billion into terms even a school kid could grasp. . . . . 4,590 McDonald's apple pies for every American.  Right on the front page. . . part of the headline.

This morning my daughter forwarded a $85 billion plan that would benefit everyone of us, not just AIG, which I'll share with you below.

Folks, I hate to break the bad news to you, but. . . . don't hold your breath waiting for your apple pies to arrive.  And you sure as heck aren't included in the $85 billion AIG bailout either. 

Ellen A. Roskovich

Too bad the brilliant brain trust running for office  havent thought of this...         
  I'm against the $85,000,000,000.00 bailout of  AIG.  
 Instead, I'm in favor of giving  $85,000,000,000 to all Americans as a  '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 billion that  equals to a hefty '$425,000.00'  
 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  $25.5 Billion 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, a great boost to new grads'
 Put away money  for college, it'll be there'
 Save it 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  parents medical insurance, 'health care  improves'  
 Remember this is for every adult U  S Citizen 18+  including the folks who lost their  jobs at Lehman Brothers and every other company

 If  we're going to re-distribute wealth let's really do  it..instead of trickling out

 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 and Sell off  its parts.
 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' we were not invited to the last  10  years of 'party time'  bonuses   
 And remember, That this  plan only really costs $59.5 Billion because $25.5 Billion  is returned instantly in taxes to Uncle  Sam.

 Find phone numbers fast with the New AOL Yellow Pages <http://yellowpages.aol.com/?NCID=emlweusyelp00000001> !  > To: vision2020 at moscow.com> From: thansen at moscow.com> Date: Sun, 28 Sep 2008 20:16:40 +0000> Subject: [Vision2020] Rescue Bill Revealed> > >From CNN at:> > http://www.cnn.com> > --------------------------------------------------------> > Rescue bill revealed> Proposed legislation details plan to enact historic bailout of nation's > financial system.> > NEW YORK (CNNMoney.com) -- The federal government would provide as much as > $700 billion in a far-reaching plan to rescue the nation's troubled > financial system, according to a draft of the proposed bill obtained by > CNN.> > The legislation is still being negotiated and elements of the bill could > still change.> > The core of the bill is based on Treasury Secretary Henry Paulson's > request for authority to purchase troubled assets from financial > institutions so banks can resume lending and so the credit markets, now > virtually frozen, can begin to operate more normally.> > But Democrats and Republicans - concerned about the potential taxpayer > cost - have added several conditions and restrictions. Key negotiators for > the financial rescue plan will be busy trying to line up votes on Capitol > Hill on Sunday to support the accord they reached soon after midnight.> > Among the provisions of the draft bill:> > - The $700 billion would be disbursed in stages, with $250 billion made > available immediately for the Treasury's use.> > - Curbs will be placed on the compensation of executives at companies that > sell mortgage assets to Treasury. Among them, the bill would limit golden > parachutes to executives at companies that participate; they will not be > able to deduct the salary they pay to executives above $500,000.> > - An oversight board will be created. The board will include the Federal > Reserve chairman, the Securities and Exchange Commission chairman, the > Federal Home Finance Agency director and the Housing and Urban Development > secretary.> > - Allow for the Treasury to receive the option to take ownership stakes in > participating companies under certain circumstances.> > - Treasury may establish an insurance program - with risk-based premiums > paid by the industry - to guarantee companies' troubled assets, including > mortgage-backed securities, purchased before March 18, 2008.> > Lawmakers' goal is to shore up a deal before financial markets around the > world open on Sunday evening.> > Treasury Secretary Henry Paulson first announced the administration would > seek an economic bailout plan on Sept. 18, after meeting with key > lawmakers in the House and Senate - a meeting that left lawmakers looking > ashen when they spoke to the press afterwards.> > If enacted, the rescue plan would be the most dramatic and extensive > government intervention in the economy since the Great Depression. > President Bush on Sept. 24 gave a prime-time address to the nation in > which he urged lawmakers to pass his plan and warned that the "entire > economy is in danger."> > The aim of the rescue is to unfreeze the credit markets - short-term > lending among banks and corporations. The core of the problem is bad real > estate loans that have led to record foreclosures when the housing bubble > burst and home prices declined.> > In the past two weeks, the banking world and Wall Street have been > reordered by a wave of collapses and corporate mergers. The most recent > development was the seizure by federal regulators on Thursday night of > Washington Mutual, once the nation's largest thrift and a major mortgage > lender.> > Pain on Main Street, risk to taxpayers> The chill of the credit freeze has been felt far beyond Wall Street, as > well. Businesses large and small have seen the cost of borrowing spike > higher.> > At the same time, the scale of the administration's plan - and the quick > pace of the debate over it - has given pause to many Americans and > lawmakers worried about its potential cost to taxpayers.> > "We begin with a very important task, a task to stabilize the markets, to > protect all Americans - and do it in a way that protects the taxpayer to > the maximum extent possible," Paulson said early Sunday morning.> > --------------------------------------------------------> > Seeya round town, Moscow.> > Tom Hansen> Moscow, Idaho> > "We're a town of about 23,000 with 10,000 college students. The college > students are not very active in local elections (thank goodness!)."> > - Dale Courtney (March 28, 2007)> > > ---------------------------------------------> This message was sent by First Step Internet.> http://www.fsr.com/> > > =======================================================> List services made available by First Step Internet, > serving the communities of the Palouse since 1994. > http://www.fsr.net > mailto:Vision2020 at moscow.com> =======================================================
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