If "the taxpayers" knew the numbers, they'd be rioting in the streets.

Every $1 trillion "our" government "spends" to "save" their friends translates to $8000 per taxpayer (rounded up, based on 130 million taxpayers. Ignore the 'per citizen" numbers - non-taxpayers are not relevant.)

So far, just this year, "our" government has promised their friends over $3 trillion of taxpayer money (that we actually know of.)

That's $24,000 per taxpayer, whose average income is $32,000/year - leaving the average taxpayer with a net-of-gross of $8000K for 08. Minus taxes at, say, a medium 25% (of $32K=$7000,) and, this year, the average taxpayer will take home an astounding $1000, or about 80 bucks a month.

How many taxpayers voted to give AIG, Fannie, Fredie, and the rest basically their entire year's earnings as a thank you for robbing us blind?

Of course, add in another $8K for the Pentagon ($1 trillion budget,) another $8K for Iraq/Afghanistan ($1 trillion spent so far,) and another $24K to cover the $3 trillion 08 Fed budget...

And every taxpayer is on the hook - this year only, remember - for at least $64,000 apiece, or twice the average income.

Toss in each taxpayer's share of the National Debt, now approaching $10 trillion, or another $80,000 per tp... for a total of $144,000, or nearly 5 years worth of the average taxpayer's income.

These are the numbers that need to be shouted to every sucker - er, I mean taxpayer - in America RIGHT NOW.

The Bubble FIRE Sting
(FIRE = finance insurance real estate)

The FIRE fling and bubble sting
of leveraged debt and paupers sweat
is cresting like the tsunami mother of all juggernauts
while a foamy orgy of puts wells up in the trough
as barkers call there's still more to ride
and bankers warn there's still more to hide

The pundits cheered
while puppet leaders veered
first right then left
the maneuvers were so deft
the public scarcely noticed
that they were left bereft

Before You Stage the Fascist Coup, First You Have to Wreck the Economy…

Excerpt: “Those who watched, stunned, as the Bush administration has pledged one trillion dollars of taxpayers money to bail out their good buddies---this after they said that a few billion dollars spent over five years to provide health insurance for ten million uninsured kids was too much----please read the rest of what Michael Parenti wrote back in 1996, way before the Bush-Cheney administration.

Growing numbers of us have lost our skepticism that "it could never happen here" because it is happening here.

When the power of capital is increasingly untrammeled, all of us are put at risk: the environment, the sacred forests, the beautiful and mysterious creatures of the sea, the ordinary people who, with their strength and brains and inventiveness create community and give to life so much that's worthy of our respect. The real burden to society is not the poor, but the corporate rich. We simply can no longer afford them.”

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x4044948#4045017

The whole discussion of this issue is caught up in a blame game and that needs to stop. Here's the reality:

1) Large mega-banks and investment banks created a speculative market in real estate that caused the real estate "boom". Credit was easy to get, since it wasn't controlled. They speculated and have gotten burned. Small, local banks that stuck to fundamentals and documentation and relationships seem to be doing fine.

2) The average homeowner, which does not include the speculative developers that took advantage of the no-documentation mortgages, got caught up in the speculated market and got mortgages for homes that were extremely over-valued. People couldn't actually afford payments on mortgages for houses mortgaged more than they were worth.

3) So what does it mean when the US government buys these mortgages back? Are they going to buy them at their speculated values or actual lower values? Whose going to actually be doing the buying? The US doesn't have the money, it's going to borrow it from China and Middle East nations. So all of this just amounts to a massive sell-off of property to other countries. Don't fool yourself, the expense to the tax payer is a country in debt to the tune of 11 trillion dollars...broken by decades of poor financial management. This is just another big drop in the bucket.

It's time for change. Time for true democracy.

Republicans = Abuse of power, no accountability. HOW do they get away with it?? These thugs need to be behind bars for a long time so they won't damage the country anymore. Who in their right mind would vote for them?!

Didn't Bush make some kind of stupid statement about "Wall Street got drunk?" In the picture above HE'S the one that looks drunk. Oh, he IS a drunk -- a DRY drunk. Perhaps he's imbibing again.

Our Corporate controlled 'Government' is going to crush the middle class and poor American taxpayers with both American AND foreign corporate debt without the possibility of any of us from having our day in court over this. The Republicans and Democrats are conspiring to enslave the entire American population, save for the filthy rich of course. This scam of the century is to 'save' the banks - but who of us can get any sort of a loan (home, car, college of medical) when we are burdened with this unpayable National Debt? Without userious interest how will the banks survive? The Fat Cats are eating the bones of our children.

Bush has destroyed America and the rest of the world as well. Heckuva job, George, heckuva job!

----------------------------------------------------------------------

Sept. 21 (Bloomberg) -- The Bush administration sought unchecked power from Congress to buy $700 billion in bad mortgage investments from financial companies in what would be an unprecedented government intrusion into the markets.

Through his plan, Treasury Secretary Henry Paulson aims to avert a credit freeze that would bring the financial system and the world's largest economy to a standstill. The bill would prevent courts from reviewing actions taken under its authority.

``He's asking for a huge amount of power,'' said Nouriel Roubini, an economist at New York University. ``He's saying, `Trust me, I'm going to do it right if you give me absolute control.' This is not a monarchy.''

As congressional aides and officials scrutinized the proposal, the Treasury late yesterday clarified the types of assets it would purchase. Paulson would have authority to buy home loans, mortgage-backed securities, commercial mortgage- related assets and, after consultation with the Federal Reserve chairman, ``other assets, as deemed necessary to effectively stabilize financial markets,'' the Treasury said in a statement.

Go to Vermont Senator Bernie Sanders' website to see his well-articulated plan to humanize the economic bill that's currently under consideration by Congress.
You KNOW the lobbyists are working over the weekend to ensure that their needs and greeds are met.
We have to voice our protest over the direction this is taking!!
Bail out the crooks and gamblers?
NO!!!
Help Main Street, NOT Wall St!!

So the government expects the taxpayers to shell out nearly a trillion bucks for worthless paper. How about buying the Brooklyn Bridge or ocean front property in Kansas?!

Remember the plan: Drown the government in debt, like drowning a child in a bathtub. Then use this debt to explain to the sheeple how we can't afford social security, or health care, or infrastructure.

Origins of the problem.

http://www.pbs.org/wgbh/pages/frontline/shows/wallstreet/weill/demise.html

Bush said, "There will be ample opportunities to debate the origins of this problem. Now is the time to solve it."

In order to solve a problem, you should know the origins ; if not, then you are just throwing money at the problem. This is the same crap they say about education funding: "Throwing money at the problem isn't the answer." Well, it appears they are throwing "money" around left and right. What money? It's all a house of cards that is collapsing in front of our eyes. Financial terrorism.

We can spend money bailing out corporate fat cats. We can spend money on stupid wars. Yet, we can't have national healthcare; our infrastructure is crumbling; schools are failing. What a screwed up sense of priorities.

These bastards have run the country into the ground. There should be a march on Washington and Wall Street, and haul their asses out in the street. Tar and feather wouldn't even be good enough. Let them go dumpster diving for the rest of their lives.

"Democratic senator Charles Schumer said treasury officials had left no doubt about the alternatives: 'Their description of what would happen if we didn't act was startling, astounding and a little worrisome.'"
A little worrisome? What an understatement. They know much more than they are letting on right now. The American people have been hoodwinked by a group of organized criminals that make the Sopranos look like schoolyrard bullies.

Whoever becomes President will have to pull off some FDR tactics to pull us out of this one. My consumer confidence is in negative numbers. Time for another revolution. Lock and load & praise the Lord and pass the ammunition.

Congress Must Demand Bush and Cheney Resign

George Bush wants taxpayers to pay $700 billion to bail out Wall Street for its reckless investments in mortgage-backed securities. That's on top of $800 billion for other recent bailouts, including A.I.G., Fannie Mae, Freddie Mac, and Bear Stearns.

The current financial disaster is the direct result of the Bush-Cheney Administration's 8-year policy of deregulation, corruption, and greed.

The Bush-Cheney Administration cannot be trusted to solve the massive problems they created. Before Congress gives the Bush Administration one dime of taxpayer money for financial bailouts, Congress must demand the immediate resignation of George Bush, Dick Cheney, and Henry Paulson and the appointment of Speaker Nancy Pelosi as President until our next President is sworn in on January 20, 2009.

Email your Senators and Representative and spread the word:
http://www.democrats.com/resign

With or without the Lipstick - this thing is still a Pig in a Poke!

tax profits, not income. this will also slow down growth, which is also a problem.

If you care, E-MAIL YOUR CONGRESSMAN NOW! NO to ECONOMIC BLACKMAIL! NO to having the 700 BILLION DOLLAR TOXIT DEBT BAILOUT rammed down our (THE TAXPAYERS') throats over the weekend while no one is looking. NO to creating an ECONOMIC DICTATOR (PAULSON) who answers to no one. Let your Congressman know where you stand and stop taking everything they dish out. It only takes a few minutes, just about as long as it takes to post a comment here. You can find your Congressman through GOOGLE. Let them know that your d--- mad and your not going to take it any more! Let the crooks on wall street go bankrupt and cleanse the system once and for all. This is Bush's last hurrah. He couldnt steal Social Security so now he wants to intimidate the taxpayers into GIVING 700B to the den of thieves on Wall Street which will only delay the inevitable. Incidentally, McCain also wants to give (privatize) Social Security to Wall Street and all the crooked Bankers. As another earlier post by someone else on a different article said, this is a well engineered and ochestrated RIPPOFF by the Bush Administration.

I wonder how much of this money will end up in the accounts of Bush, Cheney, Clinton, McCain, etc...

The neo-cons weren't allowed to privatize social security, so they found another way to give Wall Street our tax money. A brilliant end-of-term rip-off , and a death-blow to worthy government programs that needed that money.

Here is the true origin of the problem.

http://sweetness-light.com/archive/thank-acorn-and-their-ilk-for-mortgage-crisis

No Debate About It!

Most of us know the origins of this problem!

Most financial pros know the origin of the problem!

The sheep don't.

If you don't decide to become a tax resister--no excuses--RIGHT now! then you have no reason to whine and moan. Cut the head (taxes) off the dragon and fear be damned! Typing about all the wrongs won't make it right. Organize a tax resistance strike and start with YOU!

How can you solve a problem if you do not know its origins?
Will the Democrats go along with the bailout without demanding financial reform?
Here are some ideas a friend of mine suggested.

1. Tax unearned income (capital gains) more than earned income

2. Tax wealth (e.g., 2.5% annual tax on wealth over $5 million)

3. Prohibit speculative practices such as selling short or long

4. Ban unregulated financial institutions such as hedge funds and private equity firms

5. Work with other nations to develop a new global financial order

I've never lived in a country with an inflation rate of 5,000%. I hear it's a real drag.

Americans swallow anything their government gives them. That's what we do best. We smile and go about our daily lives and allow our government to destroy the country and eventually the world. We swallow all the government lies and media propaganda and pabulum, and then regurgitate it all the next day. Just look around and see how overfed we are. We can’t swallow much more.
Hoa binh

"There will be ample opportunities to debate the origins of this problem." - President George W. Bush

Is this "irrational exuberance" or just another bald-faced lie?