So I got this email from my Mom today and instead of deleting it like so many forwards I receive, I read it. Now, I know it’s a silly idea, but boy does it sound nice… mainly to the greedy Josh inside. I don’t know enough about financial… uhh… stuff to say if any of this is feasible or not. I laugh because I assume it’s funny because I got it as a forward in my email.
No, I don’t know who “Birk” is, but he did do his math wrong… $85,000,000,000.00 to 200,000,000 people is only $425. But assuming the numbers did work out…
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 adults in the U.S.
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 lets 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 has $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 parents 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 lets really do it…instead of trickling out a puny $1000.00 ( “vote buy” ) economic incentive.
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, The Birk plan only really costs $59.5 Billion because $25.5 Billion is returned instantly in taxes to Uncle Sam.
Man, I’m a complete math idiot, and I still came up with $425/person too. Math FAIL.
He needs to factor in the interest and payments AIG will make.
I work for AIG so I’m partial to the bailout for having a job reasons 🙂
-Allen
Can’t remember blogger login atm