85 billion dollar bailout of AIG

Submitted by twotrues on September 28, 2008 - 10:02pm.

Hot Topics

I received an e-mail that was genius! why bailout AIG for 85 billion? Give it to American citizens to boost the economy. Foolish? there is Approx 310million Legal citizens in the US. Approx 200million are over the age of 18. If we gave every legal over the age of 18 an equal share ,that =$425,000 each. Then tax it @30% would give the government 25billion back ,leaving approx $275,000. What would we do with that? Pay off mortgages ,buy cars ,get a good education,pay off personal debt. Now that would boost the economy!!!!

Ron T. Fla.

math

Submitted by twotrues on September 29, 2008 - 9:24am.

you're correct! you cant trust email

Math Redux: BAILOUT = $6000 per household

Submitted by Jim on September 29, 2008 - 9:39am.

I'm not sure where the wires got crossed but here is the actual math:

TOTAL BAILOUT: $700,000,000,000 (i.e 700 BILLION)

TOTAL NUMBER OF US HOUSEHOLDS: 114,000,000

HENCE: ~$6100 per household.

(As a guess, either the math was screwy or it was initially applied to the TOTAL bailout and then that fact forgotten).

Jim

P.S. Other numbers exist. The above is just meant to get us in the ballpark.

Bailout on top of Deficit...

Submitted by Jim on September 29, 2008 - 10:03am.

...gives us little room to maneuver:

The Federal Deficit.

Source: Congressional Budget Office

Lack of taxation on the Aristocracy (compared to when it was collected during the Clinton Administration)

AND

pulling our troops from killing those who attacked us on 911, to seeking oil dollars for the few in Iraq, have left the USA vulnerable.

Jim

P.S. Folks should pay for services rendered. Wars are fought to defend a Nations wealth. Folks should pay in proportion to the wealth they need defending. That is not happening.

User login

Navigation