Do you think this would solve any problems – new bailout solution?
I just received this e-mail, but I loved it – what do you think?
"My thoughts
Hi Pals,
I’m against the ,000,000,000.00 bailout of AIG.
Instead, I’m in favor of giving ,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 billon that equals 5,000.00.
My plan is to give 5,000 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 7,500.00 in taxes. That sends ,500,000,000 right back to Uncle Sam.
But it means that every adult 18+ has 7,500.00 in their pocket. A husband and wife has 5,000.00.
What would you do with 7,500.00 to 5,000.00 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. Of course, for those serving in our Armed Forces!
If we’re going to do an 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.
How do you spell Economic Boom?
I trust my fellow adult Americans to know how to use the Billion We Deserve It Dividend more than I do the geniuses at AIG or in Washington DC .
And remember, The Holland plan only really costs .5 Billion because .5 Billion is returned instantly in taxes to Uncle Sam.
Ahhh…I feel so much better getting that off my chest!"
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2 comments
Alby on August 30, 2009 at 10:24 pm
You do realize that not only would that be Inflationary and possibly trigger Hyper-Inflation in the US, like Germany had after WWI, but we Americans would have to repay ourselves + interest.
So No. Sending fat rebate checks to Americans would be foolish.
blackbimmer1972 on August 30, 2009 at 10:24 pm
It’s a neat idea, but unfortunately you can’t assume everyone will be that responsible with their rebates. Even people with huge resources spend through their disposable incomes and quickly incur large amounts of debt if they don’t have enough wisdom and self-control in their spending habits, and giving people like that more money just compounds the problem. Consumers buying beyond their means is largely what got the U.S. into trouble in the first place.