This was one of those emails I recieved through a chain mail system. I figured it was just one of those stupid political emails, bashing one candidate or another, but then I actually read it and it sounded rather interesting. The email is as follows...
I have received this email 3 times this week...it's amazing how cool it is to even dream for a second about this! I think I would like to hear the 'real' reason why this would 'never' work.
Okay I'm in ...Finally a 'plan' that makes sense...If only this was the plan and it worked...
I'm against the $85,000,000,000.00 (Billion) bailout of AIG.
Instead, I'm in favor of giving $85,000,000,000 (BILLION) 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 yrs yrs and older.
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 $425,000.00.
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 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 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 Lehmann 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 bail out every adult US 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 then clean it up.
Here's the 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?
Surely our 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 plan only really costs $59.5 Billion because $25.5 Billion is returned instantly in taxes to Uncle Sam.
So my question for the blog is this: I realize this plan probably wouldn't work because of inflation, among other things, but why isn't the 60 billion dollar plan not more inflationary than this one???
2 comments:
haha, this plan is very ideal. Well, people wont know how to handle a big junk of money coming at once. Chances are, more than half will be wasted before one realizes how he or she should use it :). but yeah, the email has its good rationale in it, why bailing out AIG? :)
A fun letter. True, I think the most ideal bailout package is to bail out the tax payers themselves by giving them the money directly -- screw the trickle down theory. Then again, if that happened most of the banks that had been bailed out would fail. The supply of credit would fall drastically, not just for regular consumers but for small businesses. Consumers would have nowhere to spend/invest the money because there would be no goods to buy or companies to invest in. That's also assuming that people don't save the money (as with Bush's tax stimulus package) or send/invest it abroad, which would negate the need to pump money into the economy. I completely agree that much of the public is more deserving of a bail out than some of the players on Wall Street, but too bad it would never happen.
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