Alternative to the $700 Bio plan

Tamrahan

Cathlete
This was emailed to me by a friend. ;)


How about this??

A Modest Plan: Not to mention $700 Billion to bail out Wall Street, while mortgaging the future of our children and grandchildren!

Hi Pals,

I’m against the $85 BILLION 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 bona fide U.S. citizens, aged 18+.

Our population is about 301 million counting every man, woman and child. So, 200,000,000 might be a fair stab at adults 18 and up. Now, divide 200 million, 18+ adults into $85 billion - that equals $425,000.00 each! Yes, my plan is to give that $425,000 to every adult as a “We Deserve It” dividend.

Of course, it would NOT be tax free. So, let’s assume a tax rate of 30%. Every person would pay $127,500.00 in taxes. That sends $25.5 billion right back to Uncle Sam! It also 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?

· Pay off your
mortgage? – housing crisis
solved

· Repay college loans?
– what a great boost to new
grads

· Put away money for
college? – it’ll really 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 and older (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 $1,000.00 economic incentive.

If we’re going to do an $85 billion bailout, let’s bail out every adult U.S. citizen!!

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.

We deserve the money and AIG doesn’t.
Sure it’s a crazy idea, but can you imagine the coast-to-coast block party?!


How do you spell Economic Boom?
W-e D-e-s-e-r-v-e I-t d-i-v-i-d-e-n-d!
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, D.C..

And remember, The Birk 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,
Birk (T. J. Birkenmeier, A
Creative Guy & Citizen of the
Republic)
 
I heard this on the radio last week. BRILLIANT!!! It's shear genius, I tell you! We need more people like this in our government!

Edited to say that I'm the farthest thing from an economist or politician you'll ever find. Can someone (Carola? Christine? Laughingwater?) educate me as to why this couldn't work? I mean, it looks so simple and perfect. But if it was I feel like it would have been done already. There's got to be a good reason why this can't work.
 
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Absolutely. My husband and I talk about this and can see no "downside" to this plan and I think it would actually be cheaper. Everyone pays off their debts--cc, car and college loans, invests in the market and makes some purchases. Money flows right back into the economy with no middleman. Also maybe a tax rebate or something for people who buy a foreclosed property to keep property values up in communities. Why not?
 
The big downside I can see is that some consumers will not use the money as "intended." They will just spend it on junk and then still be in the same pickle (in debt, defaulting on house, etc). Although, if they just blow it, I guess that helps the economy too!

Carrie
 
That's what I said! It's also what I meant when I posted earlier about being against the bill in the first place.
No one has been here for me when the debt collectors call me everyday and I can't send them anything.. I can file BANKRUPTCY and ruin m life as I know it for the next (how many years???)
I don't see why the money shouldn't be given to us and/or social security.

I NEED TO BE BAILED OUT DAMNIT!!

So.. how do we propose such a theory? .. I mean, without getting laughed all the way to the bailout bank :)
 
Can someone educate me as to why this couldn't work?
I'm clueless when it comes to economics (and I simply find most politics entertaining). My best guess as to why it wouldn't work is that our government would never trust us with that much money. Which is odd considering what a bang up job they've been doing. :rolleyes:

I'd love it though!
 
We fail math

If you divide $700B by 200 million you get $3500 per person. Oops. Didn't the government just do that? Remember, the stimulus checks that didn't stimulate? Sorry to be a downer. It sounded like a good idea. Stupid math ruining it for everybody! ;)
 

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