10/24/2009 Bash on the Boat (I'm with B.O.B) Thread #14

[njprincess]

Oh I don't think so, just a lot of frozen drinks......

Sounds like my kind of party!

 

[minnieandmickey]

O/T

A little light reading.....

King Henry from Treasuryfairyland announced Wednesday that his $700 Bailout plan is not wearing any clothes. Once again, Congress was sold a bill of goods by the outgoing Master Planners (the first bill was Iraq's WMD, half a trillion dollars ago). Paulson announced that Treasury will not buy bank bad mortgage assets, in a 180 degree turn on the main selling point for the plan. Fool me once, shame on you, fool me twice - how does the rest go, Dubya? King Henry fixed Goldman - apparently his job is finished. Stocks responded by losing another 5 percent Wednesday, and has lost another trillion dollars in value over just the past three days. It has lost $9.0 trillion since the October 2007 top. Treasury is essentially saying their hard fought plan won't work, leaving Wall Street hopeless for the moment. So, those toxic assets aren't going anywhere except into the hovering black hole sucking the life out of planet earth's economy. We knew this plan wouldn't work, and said so the day it was passed. The reason is, that it fails to address the source of the problem, the consumer's lack of income due to asset depreciation, job loss, declining investment yields, rising real estate taxes, and a rising cost of living. Buying today's bad assets fails to prevent tomorrow's bad assets from showing up as a new batch of consumers fail to make loan payments, giving birth to the next round of fresh toxic assets, sure as death and Obama raising taxes on the "rich."



The solution is simple: Rebate the past 5 to 10 years of income taxes, up to $10 trillion worth, requiring half the rebate to payoff debt. If households don't have debt, they get to keep all the rebate. This will metamorphose current and future bad assets (loans and loan securities) into good assets. This gets the household back on their feet, heals both household and corporate balance sheets, and choke starts this economy with a boom that could last decades. Sure, the Dollar would take a hit, maybe a 50 percent hit, but debts will be eliminated, a depression will be averted, and everyone gets a fresh start. This stimulus would be alarmingly successful. Then the income tax should be replaced by a national sales and excise tax. Hey, the U.S. surviv ed very nicely for 150 years without an income tax through 1912. Then, the real estate tax should be repealed, an unconstitutional confiscation of wealth, and replaced again by a sales or consumption tax. And finally, to support the Dollar, the Fed should be eliminated, currency should be issued by the Treasury Department, and should be backed by Gold, even if Gold is valued at $3,000 an ounce.



To effectuate the 10 year income tax rebate, the Treasury Department should issue $10 trillion of fresh U.S. government Treasury securities. Those securities should then be sold to the Federal reserve for cash, and the cash would be distributed to every household in America. The tax rebate would not include corporations, just households. Corporations and Wall Street would benefit through trickle up, not the trickle down policies that have failed. Demand for goods and services would skyrocket as households, which account for 70 percent of Gross Domestic Product, buy, buy, buy with the strength of their newfound solid balance sheets. This spending will create jobs all over the place, reinforcing free market capitalism, in opposition to socialist policies that just benefit specific industries or projects that present Congressional thinking suggests a government stimulus plan would adopt, a narrow target policy that will fail.



Everyone needs help now, not just the few high profile, lobbying-spending industries that have the publicity machines to convince government a bailout should be for themselves. The massive income tax rebate plan would benefit the broadest range of targets possible. People paying their debts on time now, but making painful sacrifices to do so, need help now, not just those who have stopped making payments. Having a job today is no guarantee that job will exist tomorrow. The present focus of the Master Planners - to address only those who already hit the fan - is too narrow and will fail to stop the spread of this systemic economic plague. Can you imagine the boost to Detroit's big three auto makers if every household in America got a check e qual to what they paid in taxes over the past ten years? GM's stock would not sit at $3 a share for very long. The Governor of Pennsylvania came out today suggesting he may raise PA income taxes next year. Are you kidding Ed? You've been watching the Eagles' Andy Reid's coaching too long. That is the precise worst thing you can do in a developing depression. He wouldn't have to do that, or even think about doing that, if this federal income tax rebate plan was effectuated.



This plan could be implemented quickly. Very fast. Checks could be in the hands of every household by early 2009. Further, this plan should include a floor tax rebate of $50,000, assuring the poor, who are victims of job losses and a higher cost of living, receive help to get back on their feet. It is the right thing to do, in the spirit of inclusion.

My dear Chris,
I am forwarding this on to PE Obama in hopes that he will appoint you as our new Tresure Secretary.

 

[GOS]

My dear Chris,
I am forwarding this on to PE Obama in hopes that he will appoint you as our new Tresure Secretary.

Glad you understood it. It left my head spinning.

 

[Dyerneeds]

what about this one then Mike - you can't resist those eyes.

found this picture on another thread some time ago. Reminds me our our little Arnie.

well thats not helping heather.

he is a cutie though.

robin likes the big poochies though.
i'll never forget when she brought Candy home...
"she wont get much bigger than that" (at 50 lbs)"she wont get much bigger than that" (at 75 lbs) "she wont get much biggert than that"
finally leveled off at 100lbs.
she was the best dog we ever had though.

 

[Dyerneeds]

Oh I don't think so, just a lot of frozen drinks......

lots of strawberry smoothies with the girls then back to "put pancakes on your heads eh?"

 

[Dyerneeds]

Sounds like she is smitten with the puppy. My money is on Robin and the puppy.

never underestimate the power or underdog.

 

[Timon]

Is that the one where they slide the thingy down the ice and people sweep the ice with brooms?

Yup, that's the one! They are called rocks, by the way

I've been meaning to upload these to share. We went to DC on Monday......

And the kids were even able to find a Hidden Mickey....

Awesome Hidden Mickey!!!

 

[Timon]

I am just reading my Celebrations magazine that came in the mail today

Sorry Dawg, I stole your FO

 

[Dyerneeds]

I am just reading my Celebrations magazine that came in the mail today

Sorry Dawg, I stole your FO

another famous disser would say....i wasnt even trying.

 

[Dyerneeds]

Glad you understood it. It left my head spinning.

just how much time did numbers boy spend with afeg on that repo???

 

[Dyerneeds]

and speaking of the repo...heather, i dont suppose the grumpy one is working on a trip video for us by chance??

 

[Walt & Di]

Good for you - I just got back myself. I'm lifetime & have to weigh in monthly. I'm OK but am still wearing a couple "souvenirs" from our Sept. cruise if you know what I mean! Let me know how you do.

NK

I am a lifetime member too. Walt is too. I weighed last week. I was right on the money. Today I had a courtesy weigh and I was over two lbs. I go up and down all the time. I need to stop picking at everything. I think if it is only a mouthful it is no points which we know that is not true. It was a great meeting today. Di

 

[Walt & Di]

I've been meaning to upload these to share. We went to DC on Monday......

The kids at the Washington Monument...

Emily took this one. It is at the Korean War Memorial--very cool memorial, I think.

And the kids were even able to find a Hidden Mickey....

Paige your kids are so cute. Emily is absolutely beautiful. I love your hidden mickey you guys found. Di

 

[njprincess]

never underestimate the power or underdog.

Hey, here's a live link to some mighty cute puppies.

http://www.ustream.tv/channel/shiba-inu-puppy-cam

They do sleep a lot but they're pretty cute when they're jumping around

 

[tikimimi]

I've been meaning to upload these to share. We went to DC on Monday......

The kids at the Washington Monument...

Emily took this one. It is at the Korean War Memorial--very cool memorial, I think.

And the kids were even able to find a Hidden Mickey....

How about some nice takeout for dinner? Or do you do 'take away'? then you can keep DISing for awhile...

Great pictures! We used to go to DC every spring break when we lived in NC.

I can't wait to meet Robin!!!

I'm thinking you haven't seen the last of that picture... I'm thinking it just might show up in some places you might not expect the cabin doors on the ship are magnetic, right?

I think you're right - it would be a great way for folks to get to know him!

 

[captchris]

Hey everyone...

Just checking in for a quick minute while I start counting the first shift.

 

[njprincess]

Hey everyone...

Just checking in for a quick minute while I start counting the first shift.

Hi Chris

 

[tikimimi]

Hey everyone...

Just checking in for a quick minute while I start counting the first shift.

Hi Chris

Hey Chris! Hey Kathy!

 

[njprincess]

I think you're right - it would be a great way for folks to get to know him!

Well, he did say 'please' don't. But I am wondering how one goes about getting something posted on the Dumbotron...

 

[captchris]

Hi Chris

Hey Chris! Hey Kathy!

Hey Kathy, hey Mimi.