All Forum Posts by: Travis Cannell

Lawmakers may be setting a precedent that inspires thousands of more late payments. Why pay your loan when non-payment leads to a better deal on your mortgage?

Subject: The Birk Economic Recovery Plan

I'm against the $85,000,000,000.00 bailout of AIG.

Instead, I'm in favor of giving $85,000,000,000 to America in a We
Deserve It 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 billon that equals $425,000.00.

My plan is to give $425,000 to every person 18+ as a We Deserve It
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 $25,500,000,000 right back to Uncle Sam.

But it means that every adult 18+ has $297,500.00 in their pocket.
A husband and wife has $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 - what a great boost to new grads
Put away money for college - it'll be there
Save 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 parent's medical insurance - health care improves
Enable Deadbeat Dads to come clean - or else

Remember this is for every adult U S Citizen 18+ including the folks
who lost their jobs at Lehman Brothers and every other company
that is cutting back. And of course, for those serving in our Armed
Forces.

If we're going to re-distribute wealth let's really do it...instead of
trickling out a puny $1000.00 ( "vote buy" ) economic incentive that

is being proposed by one of our candidates for President.

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.
Sell off its parts.
Let American General go back to being American General.
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.

Sure it's a crazy idea that can "never work."

But can you imagine the Coast-To-Coast Block Party!

How do you spell Economic Boom?

I trust my fellow adult Americans to know how to use the $85 Billion
We Deserve It Dividend more than I do the geniuses at AIG or in
Washington DC .

And remember, The Birk plan only really costs $59.5 Billion because
$25.5 Billion is returned instantly in taxes to Uncle Sam.

Ahhh...I feel so much better getting that off my chest.

Kindest personal regards,

Birk

T. J. Birkenmeier, A Creative Guy & Citizen of the Republic

PS: Feel free to pass this along to your pals as it's either good for a
laugh or a tear or a very sobering thought on how to best use $85 Billion!!


P.P.S. Even if the number is 250 million adults, the share is $340,000
gross each!!!

($238,000 net after that estimated 30% federal tax rate)

Your state and local governments will want "their share"
too, but think of all the pre-financed public works projects that could get done.
More jobs!

Repave streets and upgrade utilities--that needs labor, and
equipment and materials.

This is way better than "trickle-down" economics--it would
be "tidal wave" economics!

Make sure the $25 billion that goes right back to Uncle Sam
gets used for debt reduction.



PPPS--I heard on the radio that the total of all recent and potential
near-term bailouts may reach $500 billion. Put another way,
half-a-trillion dollars. Or 500,000 million!

I'm worried that short sales and the few loan mods that are occurring are going to come to a dead standstill until the banks know whether or not they will get more from Uncle Sam than negotiating with homeowners & buyers.

Additionally, almost everyone who purchaced a home between 2006-2007 could buy the same home across the street for half the price. These people aren't necessarily having a hard time making payments but they are seriously considering leaving the keys on the kitchen counter. I guess there's no way to stop this from happening until prices stop dropping.

And as far as this bailout opening the credit markets-- ANYONE with a FICO of 620, 3.5% down and documented income can buy a house with FHA. Most of the people on this site are non-owner occupied investors, but owner-occupied buyers have no problem getting financing.

Welcome to the site Travis. What kind of Bank REO's are you looking at? One's on the MLS, Bulk, etc?

-Michael