Hows that bailout?
Well, I thought I had seen it all and then all of a sudden my congress passes a $700billion bailout for the bunch of thieves in AIG and Fanny Mae with absolutely no accountability. The bailout amount isn’t really known, what is known is that the $700 billion amount is for the distressed assets. Some of these assets produce profits, but the entire portfolio will still lose money. Good lord. Talk about bailing out the wrong people. I guess this bailout means that the people that couldn’t pay their loans get away scott free and those struggling to make their loans and do it honestly get screwed. I swear, this makes me want to be a freeloader so bad. I have $117,000 left on my house loan, $72,000 in student loans, and a couple of credit cards. A chunk of that would really help.
According tot he US Census Bureau the population of the US is 305,000,000 U.S. citizens. Yes, that figure is only legal citizens, not the convicts that come over here illegally. Doing some simple math; $700 billion could give every legal citizen $2,295,081.95 in their pockets. The government could tax that about before it goes to each person. Let’s say they impose a 45% tax on it. This would leave $1,262,295 in every legal U.S. citizens pocket. Keep in mind that this is every legal citizen regardless of age.
According to the US census beaureau 75.4% of the population is over 18 years of age. That in and of itself is very scary, but lets look at it in ralation to this bailout and $700 billion. This means that of 305 million people 230 million people are over the age of 18. Lets take out the 38,000,000 or 12.4% 65 years or older since our working class is considered to be between the ages of 18 and 65. This leaves 192,000,000 people in our working class. Lets give them the $700 billion with a 45% tax. Based on the U.S. census beaureau and doing a little math using the bailout figure that is known, and a 45% tax we could give every man and woman within the working class range $1,640,624.
What could legal U.S. citizens do with $1.6 million a piece? Pay off bills? Pay off loans? Get out of debt? Buy things in stores? Afford things? Spark the economy? Quite personally, I think the money is being used in the wrong place and most of the money will probably be sent overseas. There will be no one held accountable, no investigation…no controls on it. I have to admit. I am really let down. Congress, our senators, could have helped every man, woman and child but instead they decided to help a bunch of fat cats with deep wallets. I will be looking at who voted yes on this and they will not recieve a vote from me. They didn’t listen to the people.
I know there are some problems with my line of thought, such as those on welfare and don’t want to work. Naturally, they should not be a part of it but because of the type of guy I am I would give them at least 1% of what was given to everyone else that does want to work.
I don’t know though. It just seems like common sense to help the people because that is where the problem is. Not holding anyone accountable and helping out the business that caused the problem will just enable them to continue to cause the problem. It’s a bandaid fix, and a plan to make a LOT of people rich, or should I say richer. It’s not designed to help anyone except those approving it.