$700 Billion Dollars

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$700 Billion Taxpayer Dollars.

300 Million Americans/$700 Billion Taxpayer Dollars = approximately $2000 for every man, woman and child in America.

But... dependents don’t file taxes. So the number drops. The number of people who filed tax returns last year was 139.3 million. That means about $5000 per person who actually filed.

Now, of the 139.3 million who filed how many of them actually paid taxes? And at what percent?

When I think about this more... those top 2% who supposedly carry the biggest tax burden are actually carrying this crisis... and they are the ones trying to save their own golden parachutes.

So Bush’s socialization plan is nothing more than fair.

[Sean of the Thread]

I quit paying taxes about 5 years ago. Fuck it.

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I know. I have had everything back for the past 4 years. So the taxpayer burden is definitely on the top 2%.

Guess they’ll just print more money.

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PS. I’ve heard that buying Euros is a bad idea. Better to buy stock in companies like Sony, Ibev, etc.

[ClydeR]

According to CNN, as repeated by the Daily Show, instead of doing the bailout, the government could use the same amount of money to buy every American 2,000 McDonald's apple pies. That sort of puts it in perspective, doesn't it?

http://www.dailygadfly.com/?p=2713

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Good skit. And Clinton ate it.

But don’t let the comedy anesthetize you to the weight of the current crisis.

[RichardCranium]

I got back almost 7k last year. Looking at about 6 for the one coming.

[ClydeR]

But don’t let the comedy anesthetize you to the weight of the current crisis.

What would happen if the government only spent $100 billion, instead of $700 billion? I can't see where the Treasury has justified the $700 billion figure as the amount needed.

Bush argued the weight of the crisis last night.


More banks could fail, including some in your community. The stock market would drop even more, which would reduce the value of your retirement account. The value of your home could plummet. Foreclosures would rise dramatically. And if you own a business or a farm, you would find it harder and more expensive to get credit. More businesses would close their doors, and millions of Americans could lose their jobs. Even if you have good credit history, it would be more difficult for you to get the loans you need to buy a car or send your children to college. And ultimately, our country could experience a long and painful recession.

More... (http://www.whitehouse.gov/news/releases/2008/09/20080924-10.html)

That's what he said would happen if we don't give him $700 billion. But he never said why $700 billion is the correct amount.

I have to ask myself if it is possible that the President is overselling the seriousness and urgency of the problem. I don't think that's something that President Bush would ever do, but at the same time I don't want the government to jump to any conclusions. Perhaps the President is correct that Congress must act without delay because we cannot wait for Congress to look for a smoking gun.

On the other hand, I'd sure like a McDonald's gift card from the government loaded with 2,000 apple pies!

[Kefka]

According to CNN, as repeated by the Daily Show, instead of doing the bailout, the government could use the same amount of money to buy every American 2,000 McDonald's apple pies. That sort of puts it in perspective, doesn't it?

http://www.dailygadfly.com/?p=2713

That's just crazy talk. Everyone knows McDonald's apple pies are 2 for $1. What do you plan to do with the other $350 billion, hmmm?

[Back]

What would happen if the government only spent $100 billion, instead of $700 billion? I can't see where the Treasury has justified the $700 billion figure as the amount needed.

Bush argued the weight of the crisis last night.



That's what he said would happen if we don't give him $700 billion. But he never said why $700 billion is the correct amount.

I have to ask myself if it is possible that the President is overselling the seriousness and urgency of the problem. I don't think that's something that President Bush would ever do, but at the same time I don't want the government to jump to any conclusions. Perhaps the President is correct that Congress must act without delay because we cannot wait for Congress to look for a smoking gun.

On the other hand, I'd sure like a McDonald's gift card from the government loaded with 2,000 apple pies!

Good points. How did anyone arrive at that figure? Paulson? An unelected official? Are we as taxpayers really ready to give this man omniscience on a $700 BILLION check without any insurance?

This is my personal opinion. Fuck that. If we do, I want shareholder voting rights and dividends into my off-shore account.

PS. I don’t have an off-shore account. That was added for irony.