Thursday, February 26, 2009

What the bailouts cost you

Are you even remotely curious as to exactly how much the corporate bailouts have cost you? (Remember - they were signed and passed by Presidents Bush and Obama and the last and current Congress.)

It's a significant amount, especially in light of the tough economic times.

Over at Right.Org you can precisely calculate your 'donation' to the those who were irresponsible with the money they had. Let me warn you though, it’s not pretty.

The median household income (half make more and half make less) for Lucas County is $43,527 per Census.gov. According to the calculator, the total cost for each Lucas County household is $53,337.

Think 4 Chevy Aveos. Two college degrees. A Toledo police officer. Or this 2007 27-foot Sportcraft 272 Express fishing boat.

Currently the total the U.S. has committed to failed corporations is $8,439,120,000,000. That's nearly three times the size of Congress' total budget last year and nearly two-thirds of what the entire U.S. economy produced last year.

Scary, isn't it?

6 comments:

Mad Jack said...

I was just going to go to lunch, and now I'm feeling sick.

Realistically, what can be done? The money has already been piled up, doused with gasoline and burned.

Frank said...

When is the insanity going to end! The Big O cries about how bad former President Bush left the country and because HE KNOWS EVERYTHING keeps spending money like it is water. While I know this is a trademark of the democratic party, there has to be some of those that voted for Obama wondering what the heck he is doing! (Maybe not).
It would be interesting to see what would happen if every tax payer that does not agree with his methodology would cease paying taxes?
Time to get writing my representatives about all this stupid spending.

Maggie Thurber said...

Mad Jack - sorry about that sick feeling...I had it, too.

As for what can be done? If I knew, I'd be doing it.

Frank - the scary (or maybe not) part of this is that you are the fourth person in two days to wonder what would happen if the people who actually PAY the taxes - stopped....

Tim Higgins said...

OK Maggie,

Go ahead and have them send me the Sportcraft and we'll call it square.

Seriously, I think that we are all beginning to understand by now (at least those of us choosing to think about it) that we are getting exactly what we thought we would with this president, and out of control spender whose only only excuse is that, "Bush did it first".

This is going to get out of hand until the pitchforks and torches finally come out and the American people begin to realize that its time to return to the thinking of the Founding Fathers on which this country is based.

-Sepp said...

Stop paying taxes? It wouldn't matter in the least since they're printing new money from thin air anyways. I we all just stopped paying, it would do nothing to stop the presses from churning out the difference.

On the bright side, you can mention to the Obamazombies you run into, that it took Bush 8 years to create a trillion dollar debt and only took Obama a month to double it!

Greenracks said...

This tax is certainly regressive in nature. I tried various "incomes", and found that a person earning $11,000 would have an increase of 368% in their taxes, and a person earning $150,000 would have an increase of 5% in their taxes.
Either the "calculator" was developed by a fool, or there is something seriously wrong with the engine deriving the figures.

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