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The Big Bailout - Here's an Idea

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Here's a funny suggestion I got from a friend: Many of the best ideas are so simple as to be overlooked. Read on, and see if you agree:

Hi All,

I'm against the $85,000,000,000.00 bailout of AIG. I'm also against the $700,000,000,000++ bailout being proposed in Congress right now!

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 billion -- 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.
* Pay off credit card debt.
* Repay college loans – what a great boost to new grads Put away money for College – It'll be there for Junior.
* 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.

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 $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 U S Citizen 18+.

2 comments:

Greg Knowles said on October 1, 2008 at 2:57 PM  

I hate to burst your bubble, but if you do the math it comes out to $425 dollars per person over 18. This idea has been floating around the internet for a while and I can't believe how many people believe it and don't just do the math.

Brad Andersohn said on October 1, 2008 at 3:55 PM  

That's why the post starts out, "Here's a funny suggestion I got from a friend:" I thought it was funny. :-)