A New Plan For The 85 Billion
by Big Dog on Sep 26, 2008 at 01:12 General
UPDATE: I thought about this after I had shut down my computer and something did not seem right. I checked the math this morning and this amounts to 425 dollars per person not 425,000 as the writer claims. I should have checked it before I posted it. Well, it seemed like a pipe dream anyway but might accurately describe government math. Some people have been kind (and others not so) enough to point out this error. Maybe it would work out if we gave the money only to those who pay taxes. I was going to simply delete it but I made the mistake so I will suffer the insults…
My apologies for being careless. What is it they say about passing along things you get in an email?
My brother sent me this in an email and I thought it sounded more reasonable than anything the Congress has come up with:
Hi Pals,
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 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 $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 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 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, [we deserve it] more than 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.
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
PS: Feel free to pass this along to your pals as it’s either good for a laugh or a tear or a very sobering thought on how to best use $85 Billion!
Now this is pure genius and a hell of a lot better than anything the government will come up with.
Tags: bailout plan, new idea
I’ve been saying this all week! although I’m working with $700 Billion… That’s ~$2.26 Million per American. Your math still applies…
I got this this morning as well and almost posted it…my response to the friend who sent it was that if you gave that much money to some, they would end up killing themselves (drugs) or another (robbery) because they wouldn’t know how to act… a “bonus” to the plan! LOL
Hey shithead its 425 dollars. Sorry I ruined all your precious dreams.
I realize math rules have changed over the years, but using this newfangled thing called a calculator, your answer is off by 1,000 times. $425 per person will not go very far.
Thank you all for the comments. As noted in the update, after I shut down last night the math struck me as odd. Your cheery comments this morning confirm that I had not accurately checked before I posted this.
Jon, I appreciate the way you put this. Do yourself a favor, don’t go into the teaching profession.
The thing is here I’m not sure the best way to go about this whole bailout thing. My couple low level economics classes in college don’t quite cover the depth of this whole mess. I’m not sure the urgency with which Congress is acting is wise yet I’m also not sure it isn’t necessary. As I’ve said in another post my instinct is to say “let them crash & burn, they’ve made their beds (and millions of dollars) let them lie in it”. However, I’m also not one to cut my nose off to spite my face, if its true that their collapse could put us in a depression and the bail out can stave off that occurrence then we should probably do it.
I do know I’m mad a hell about the crap people are trying to slip in like the 20% of any future sales going to ACORN, and no accountability or review for the Sec. of Treasury. Screw ACORN and the Democrats for trying to put that in, how about 20% goes back to the American Taxpayer (in direct proportion to the taxes we pay)? How about 20% goes to paying off the National Debt? Its this kind of shady stuff that has me thoroughly disgusted with our politicians. Not one damn Congressional incumbent is getting my vote this year even if it means I got to vote for a Democrat for my house seat.
i did not do the math when i sent it to Big Dog but even if it is 425.00 that is much better to get them what you will pay in for the bailout. The person who sent it to me still has a better idea then the idiots brokering the deal.