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A Financial Bailout
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As Congress spends the weekend working on the financial bailout program, we thought we'd share this idea with you, which we received by e-mail. 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 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 with $297,500 to $595,000 in your family?
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. But not for those CEO's of the failing companies who walked out with millions in their pockets. Charge them with whatever we can, and recover their ridiculously oversized payouts. And of course, for those serving in our Armed Forces. Amen! If we’re going to re-distribute wealth, let’s really do it...instead of trickling out a puny $1000 ("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 bail out every adult U S Citizen 18+! As for AIG – liquidate it. Here's my rationale. We deserve it and AIG doesn't. Sure it's a crazy idea that can "never work." 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 the geniuses at AIG or in Washington DC. And remember, the plan really costs $59.5 Billion because $25.5 Billion is returned instantly in taxes to Uncle Sam. |
This simple plan would solve the financial crisis for the vast majority of American families, enabling them to break free of the consumer debt that has been crippling them for years. And give them money to invest if they were prudent enough to learn how to invest it safely and wisely. We think this plan has a lot of merit.
Enjoy dreaming about what you could do with $300,000 to $600,000!
Note: Thanks to Jeremy from Missouri for pointing out to us that there's a math error in this example for those of us in the US, where a billion is defined as one thousand million. Using that number ($85,000,000,000), as in the example above, it would be only $425 per person, not $425,000.
Using the British definition of a billion, which is a million million, $85 billion would have three more zeroes ($85,000,000,000,000) and the result would be $425,000 each.
But since the number in the example was spelled out as $85,000,000,000, there is an error.
Sorry! It sounded like SUCH a good idea.
On a more sinister note, is the current crisis on Wall Street being caused deliberately in order to swing the election?
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