How about this Economic Stimulus Plan?
A Friend of mine sent this:
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 200,000,000bona fideU.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 billion 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. 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 00.00 ( ‘vote buy’ ) economic incentive that is being proposed by one of our candidates for President.
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.
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 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 .5 Billion because .5 Billion is returned
instantly in taxes to Uncle Sam.
Ahhh…I feel so much better getting that off my chest.
Now that the bailout package size 700 Billion think of the possibilities.
No need to py Russians or Chinese or Japanese.
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14 comments
hdean45 on July 18, 2009 at 10:32 pm
Thanks man it was fun to read but you know it would never happen.
ladytoobusytotalk on July 18, 2009 at 10:32 pm
You need to lay down and rest.
Nicolas on July 18, 2009 at 10:32 pm
I am patiently waiting for the promised food stamps, please. Don’t confuse me with numbers.
vintagechick72 on July 18, 2009 at 10:32 pm
I don’t know ….Why don’t you ask Sara Palin?
Larry T on July 18, 2009 at 10:32 pm
Maybe I’m just an idiot, but it sounds good to me.
Beth on July 18, 2009 at 10:32 pm
For goodness sake.
I’ll have to sit on that one for a while and get back to you. Keep in mind, in the meantime, that it took them many months to mail a lot of Americans the tiny stimulus check this year. Imagine how long it would take for them to do what you’re suggesting.
Okay, here’s what I have come up with to poke holes in this theory. There are some that really don’t need the money – wealthy. There are some that are not wealthy, but really don’t need a government handout. There are others that really do need the money – poor.
My husband and I have three jobs between the two of us. He works two jobs, and I work one job at home and am a stay-home mom. So, I guess I have two jobs as well, but one does not pay! My kids are 13 and 12, so I’m not looking after little ones, but anyone with kids know that even at that age they require a lot! Anyway, we are managing to make it. It’s not easy to juggle that many jobs, but it’s necessary if we want to live the kind of lifestyle we live. I don’t want any money from the government. They need to keep it and spend it in other places that really, truly need it.
Thanks anyway!
EntropyMonkey on July 18, 2009 at 10:32 pm
You plan is to essentially just print money and give it to everyone. Just ask the people of Zimbabwe how this has worked out for them. They need a shopping cart of money (literally) just to buy a loaf of bread.
While well meaning, you plan is a textbook case of something that will result in massive inflation.
leavin#1 on July 18, 2009 at 10:32 pm
I know what you are saying but don’t forget that all that money is a loan. So you still have to pay it back with interest. Oh course seeing as how teh banks charged me over $20,000 alltold on a school loan that was $4000 principle and yet they get their money for 1.5% and leverage that 30:1 I guess the lesson is to take the money and start loan sharking like they do and in a year or so we can see how f ing big we can damage the economy. Good thinking tell me where to sign up. Power to the People!
Rob M on July 18, 2009 at 10:32 pm
You don’t understand finance. The government cannot create wealth. It just takes money from one pocket and puts it into another.
You need to cut corporate taxes to create jobs and investment. The market needs capital. Not poor people buying HDTVs.
If you give everyone 10,000 it costs $3 trillion. the interest on that money is 63 billion / month. You’d make the dollar worthless, so trade would end. You can’t create wealth by printing money.
seahag on July 18, 2009 at 10:32 pm
I say WE THE PEOPLE have a say so on what goes on here and 1 million per taxpaying U.S citizens will save 300 million if we didn’t do the bailout and the money will go to those who deserve it!
beancounter on July 18, 2009 at 10:32 pm
Sounds good but the math’s wrong. 85 billion works out to be about $425 per person…
PB&J on July 18, 2009 at 10:32 pm
It makes sense to me. But it would never happen, the government doesn’t trust us with our own money.
J&J on July 18, 2009 at 10:32 pm
Or, let’s bail out the banks AND have the plan above instead of Obama’s $845 BILLION DOLLAR Global Poverty Act… check out the links.
This is American tax dollars he wants to hand over to the UN to distribute to other countries.
I think we can safely say Obama does not put "country first" with regard to hunger or poverty…
Obama’s words:
"Our commitment to the global economy must extend beyond trade agreements that are more about increasing profits than about helping workers and small farmers everywhere."
"It is time the United States makes it a priority of our foreign policy to meet this goal and help those who are struggling day to day," a statement issued by supporters, including Obama, said.
This legislation, if approved, dedicates 0.7% of the U.S. gross national product to foreign aid, amounting to $845 billion "over and above what the U.S. already spends."
http://www.worldnetdaily.com/index.php?f...
http://www.aim.org/press-release/aim-say...
rayvnniscool1 on July 18, 2009 at 10:32 pm
While that money sounds lovely and I would be able to pay off my school loans I guess I would feel like I feel about AIG about myself. I am not relying on handouts as they are though. What happened to companies rising and falling on their own merit? 85 million to save a this company. You have to be kidding me. Maybe we should not give them the money and let people know that there are consequences to there actions.