The Volokh Conspiracy

Pretty good, Hugey, except for this crick in my neck...

``I nationalize strategic companies and get criticized, but when Bush does it, it's OK,'' Chavez said on weekly television program Sept. 21. ``Bush is turning socialist. How are you, comrade Bush?''

I hate agreeing with Chavez, but he's right here.

Maybe he can take McCain's place as his campaign hides out from the world.

I'll ditto Volokh Groupie. Chavez scares me....but he's funny...and right.

Well, he watches while hard-ass conservatives and libertarians squeal about how Bush is taking the country down the road to socialism, so what's a poor dictator to conclude?

Hugo Chavez is a total goon but this made me laugh so hard.

George Bush (the Meathead) is a total idiot and has made us laugh and cringe for almost eight years now.

On a serious note, this does remind us that more is at stake in this bailout than the actual banks themselves. The image of American-style liberal economics is going down the tubes, and if we can't work things out without Comrade Paulson's nationalization strategy it's gonna be a long time before a developing country is going to look to us as a model versus, say, China.

Sad. In the end the human cost of a retreat from liberal trade and economic freedom is going to outweigh even a major US recession.

I really wish people would stop suggesting that this bailout is socialism. It's not. Socialism would mean that taxpayers were investors (usually at the outset). So when the corporation makes a profit, it benefits the taxpayer (i.e. in terms of dividends to the state that the state can then use on things like, say, keeping bridges from falling down or levies from breaking).

This is nothing of the sort. This is shareholders getting the profits and taxpayers paying for the losses. It's not socialism--it's a kleptocracy.

Dean P: I really wish people would stop suggesting that this bailout is socialism. It's not.

Trouble is, in politics perception is reality. In the end it doesn't matter whether the bailout meets any technical definition of socialism - if it smells enough like socialism to the average citizen, it might as well actually be socialism.

I'm certain that somehow Obama is to blame for this.

Obama is behind double-posting?

Without the "thugs" in Washington it would also be easy to assemble a small army, kill all your neighbors, become a strong-man, and pillage neighboring towns. But we "socialize" against that. And for some reason, none dare call it socialism.

Joshua,

"In the end it doesn't matter whether the bailout meets any technical definition of socialism - if it smells enough like socialism to the average citizen, it might as well actually be socialism."

To the average citizen, it smells like yet another trillion that Bush is pissing away. Doubt we'll have another trust-funder President for a good long while.

Now, if everyone who receives this would forward it to their senators
and congressmen with a note saying "Do This!" can you imagine the
snowball?????

I'm against the $85,000,000,000 bailout of AIG.
Instead, I'm in favor of giving $85,000,000,000 to America in
a ""We Deserve It Dividend"".
To make the math simple, let's assume there are 200,000,000
bonafide U.S. Citizens 18+.
Our population is about 301,000,000 +/- counting every man, woman
and child. So 200,000,000 might be a fair stab at adults 18 and up..
So divide 200 million adults 18+ into $85 billon that equals $425,000.
My plan is to give $425,000 to every person 18+ as a
"We Deserve It Dividend".
Of course, it would NOT be tax free.
So let's assume a tax rate of 30%.
Every individual 18+ has to pay $127,500.00 in taxes.
That sends $25,500,000,000 right back to Uncle Sam.
But it means that every adult 18+ has $297,500 in their pocket.
A husband and wife has $595,000.
What would you do wi th $297,500 to $595,000 in your family?
Pay off your mortgage - housing crisis solved.
Repay college loans - what a great boost to new grads
Put away money for college - it'll be there
Save in a bank - create money to loan to entrepreneurs.
Buy a new car - create jobs
Invest in the market - capital drives growth
Pay for your parent's medical insurance - health care improves
Enable Deadbeat Dads to come clean - or else
Remember this is for every adult U S Citizen 18+ including the folks
who lost their jobs at Lehman Brothers and every other company
that is cutting back. And of course, for those serving in our Armed
Forces.
If we're going to re-distribute wealth let's really do it...instead of
trickling out a puny $1000.00 ("vote buy") economic incentive that is
being proposed by one of our candidates for President.
If we're going to do an $85 billion bailout, let's bai l out every adult
U S Citizen 18+!
As for AIG - liquidate it.
Sell off its parts.
Let American General go back to being American General.
Sell off the real estate.
Let the private sector bargain hunters cut it up and clean it up.
Here's my rationale. We deserve it and AIG doesn't.
Sure it's a crazy idea that can "never work."
But can you imagine the Coast-To-Coast Block Party!
How do you spell Economic Boom?
I trust my fellow adult Americans to know how to use the $85 Billion
"We Deserve It Dividend" more than I do the geniuses at AIG or in
Washington DC .
And remember, The Family plan only really costs $59.5 Billion because
$25.5 Billion is returned instantly in taxes to Uncle Sam.
Ahhh...I feel so much better getting that off my chest.
Kindest personal regards,

A Creative Guy &Citizen of the Republic.

Ok, well if Marx had foreseen the shift from industrial to knowledge based economies - I don't think it would be too far off to say that he might have thought that the nationalization and collective ownership of the means of financial wealth (HA!) production instead of goods production might just qualify as socialism.

But hey.. who am I to judge a few trillion dollars in handouts from the government directly to Wall Street firms?

Jeremy, I think you missed a few zeros in your equation. $85 billion divide among 200 million people is $425 each. Not so much of a party anymore, is it?