NEW BAIL-OUT PLAN
A friend sent me his economic bail-out plan. Thought I'd share:
Here's a plan that I've been thinking about since the announcements of the "Bail Out". This here is a "plan" I could live quite well with!!!
The "We Deserve It Dividend"
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! I'm no math genius, so to make the math simple, let's assume there are 200,000,000 bonafide U.S. Citizens that are 18+ years of age. Our population is about 301,000,000 +/- counting every man, woman and child. So 200,000,000 might be a fair estimate of adults 18 and up. So divide 200,000,000 adults that are 18+ into $85 billon. That equals $425,000.00.
Here's where we all get excited. My plan is to give $425,000 to every person that is 18+ years of age as a "We Deserve It Dividend". Of course, it would NOT be tax free. So let's assume a tax rate of 30%. So...... Every US Citizen that is 18+ years of age would have to pay $127,500.00 in taxes. That sends $25,500,000,000.00 right back to Uncle Sam. It also means that every adult 18+ years of age has $297,500.00 in their pocket. A husband and wife have $595,000.00 free and clear.!! What would you do with $297,500.00 to $595,000.00 in your family? Again, back to basics here:
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+ years of age including the folks who lost their jobs at Lehman Brothers and every other company that is cutting back. Most importantly, really paying 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 dollar bailout, let's bail out every adult U S Citizen 18+!
As for the problem companies: AIG - liquidate it. Sell off its parts. Let American General go back to being American General. Sell off the real estate and 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 of course 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" more than I do the geniuses at AIG or in Washington DC . And remember, The Family 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.