Saturday, February 21, 2009

Bailout Calculator

I added this new widget to my side bar that helps us get a personal perspective of government debt. Our government used to incur a little debt every once in a while and now does it all the time. They don't seem to understand the need of living within its means. To make matters worse more and more Americans are wanting government assistance. We seem to have lost touch with the fact that the government isn't a bottomless pit of financial services at our beck and call. The governments resources come out of each and every Americans wallet. You and me pay the tab for keeping the party going.

It is time to stop the party and toss out the guests. We need to invite people over who want to clean this mess up and fix all the stuff that is broke. We need a completely new look in Washington DC and probably in your state capital as well. Politics has become a career for the loathsome, greedy liars of our time. As voters we have become a pathetic lot who allow this to continue by voting them back into office so they can continue to do their damage. We need to stop this death spiral that robs all of us of life, liberty and the pursuit of happiness.

So Wake Up America and have a look at what this has cost you. Fill in the boxes on the widget and hit calculate. Let's make this personal. What does it cost you?

According to the calculator, with a total bailout of nearly $8.5 trillion divided among 300 million Americans, every man, woman and child in the U.S. would have a tax burden of $27,599. (The IRS reports there were only 138 million taxpayers in 2007, putting the load at $61,153.04 per taxpayer.)

The U.S. Census Bureau's 2005-2007 American Community Survey reports the median family income is approximately $60,374, and the average U.S. family is made up of three people. If every person were to pay for the Wall street bailout, the calculator reveals that a family of three making $60,374 with a current income tax of $12,712 would face an additional tax of $5,333 each year to cover its costs – equal to a 42 percent tax increase.

In a period of 30 years at 5 percent interest, the calculator estimates the average family would pay $160,009 – or the cost of 12 Chevy Aveos, six college tuitions, 123 iMacs and 40 vacations.

This total doesn't include the latest bailout in the emergency Porkulus package. How much more are you willing to buy? There only spending your money, and your children's money, and your children's children's money, and your............................ Does Taxation Without Representation ring any bells here. In just over two hundred years we have become the government our founders fought to escape.

Are you going to start calling and telling them NO? Are you going to start writing and telling them NO? I have made this real easy for you so you can put the brakes on big government right now. I have a widget on my side bar that will help you get in touch with the very people at the center of the problem. All you need to do is type in your zip code.

Remember to be respectful because they are human and wrong. tell them what you want them to do and encourage them to do it. You may want to put these addresses in your contact list you are going to need to do this a lot over the next four years. If you don't think you owe enough yet, you can wait. They are planning to spend a whole lot more real soon.

How much will you pay for Wall Street bailout?

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