Earlier I posted an article concerning my views on the proposed Bailout.
Several of my Gentle Readers commented upon that article, including several comments that the ‘Bailout’ wasn’t really going to cost us anything, and that we might actually make some dosh off of it.
I find that assertion that the ‘Bailout’ wouldn’t cost us anything to be rather interesting.
Check my logic here.
The money that Congress throws around like confetti mainly comes from taxes. Indeed, that seems to be the explanation as to why the Federal Government takes money out of each and every one of my paychecks.
At gunpoint, I might add, but that is a rant for another time.
So. If the proposed 700 billion dollars is coming out of the money held by Congress; and if most of them money held by Congress comes from taxpayers …
Is this 700 billion dollars being donated by a foreign government? Is this 700 billion dollars a generous gift from space aliens? Is God going to dump 700 billion dollars on the Capitol steps?
Because — near as I can tell — unless that 700 billion dollars is coming free from an outside source, seems to me like that 700 billion dollars is coming out of the pockets of taxpayers.
In which case 700 billion dollars costs the taxpayers about, oh, let’s see here … 700 billion dollars.
It has been gently suggested that actually what is meant is that the 700 billion dollars will, indeed, come out of taxpayer funds, but that over some time that 700 billion dollars will be recouped through investments in the “revitalized financial market”.
Okay, then, when can I expect my cheque?
My “fair share” of that 700 billion dollars is either coming out of the taxes I have already paid, or taxes that I will be paying. I don’t have a choice in that. The Federal Government WILL take my money.
I don’t have a mortgage to be saved. I don’t have any loans — I was a responsible adult and paid them all off — I don’t have any US investments, my credit card balance is zero, and my retirement is through the County government.
So when do I get my “fair share” of that 700 billion dollars back? When should I expect that cheque in the mail?