I only have a few minutes, but I HAVE to get this off my chest… I’ve seen this email 3 times in the last 3 hours:
Just letting you know I’m against the $85,000,000,000.00 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 billion that equals $425,000.00.
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 $297,500.00 in their pocket. A husband and wife would have $595,000.00.
What would you do with $297,500.00 to $595,000.00 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 redistribute wealth, let’s really do it instead of trickling out a puny $1000.00 ( “vote buy” ) economic incentive that is being proposed.
If we’re going to do an $85 billion bailout, let’s bail 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, this 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.
I’m all for alternative solutions to getting us out of this mess. I honestly appreciate efforts to brainstorm… But, um, every calculator and spreadsheet program at my disposal says that $85,000,000,000 (that’s eighty-five billion) divided by 200,000,000 (that’s two hundred million) people only comes out to $425 each. If I have a choice, I’ll take the $1000 incentive.
So if this email crosses your path, I’m begging you, please – stop the insanity. If you forward it, please do so only to share a warning about how far off base it is. Your local and national politicians are not failing you for ignoring it as an option. They’re actually doing you a favor.