Daughter of the Goldbrick

Quid scias scribe

An Alternate Bailout — Even Better!

Posted by Jess C on September 25, 2008

I received the following e-mail as a forward today — its author is just some random guy, but still, I thought it was worth sharing. It puts a different spin on the whole bailout idea, and frankly is as good an idea as anyone else seems to have. Bear in mind this was clearly written over a week ago, when the idea of a bailout only meant 85 Billion, not 700:
AIG Bailout

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 $425,000.00 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 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+!

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 the “We Deserve It” Dividend more than 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.

Kindest personal regards,

A Creative Guy & Citizen of the Republic.

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4 Responses to “An Alternate Bailout — Even Better!”

  1. J**n said

    There was a minor mistake on the math…which it actually ended up being $425 per person…
    $85,000,000,000 / 200,000,000 = $425

    not $425,000

    Just a tad off, it would of been a good idea other wise.

  2. I thought this was astonishingly brilliant … until I checked the math.

    Here’s a better plan from Quin Finnegan at korrektiv.org:

    Keys to Surviving the Present Financial Crisis
    I may not be a professional economist, or even an amateur one, but I know plenty about Depression, towards which everyone and everything seems to indicate we are headed. So I’ve decided to make my own four point plan available to the President, members of Congress, Wall Street tycoons and good taxpayers everywhere. Here it is:

    (1) Do your job, whatever that may be.

    (2) Eat healthy.

    (3) Spend as much time as possible with the people you love.

    (4) Get plenty of sleep.

    If (1) proves to be a serious problem, your job is to get a job, or a better job.

  3. Kurt said

    Better yet, instead of involving the government in taking our money and doling it out to us, why not adopt the Ron Paul plan and eliminate unconstitutional Federal spending (about 85%-95% of the budget), repeal the 16th Amendment and get rid of Federal Income Tax completely?

    As for the “bailout” (read: RIP OFF), the gamblers gambled and they lost. That doesn’t mean responsible Americans should have to fork over their money to make them whole. I say let the gamblers and criminals feel the consequences of their actions. NO BAILOUT.

  4. Jim said

    WHY ARE WE ASKING OUR COUNTRY TO BAIL OUT INDUSTRIES THAT ARE INVESTED IN GLOBALLY ?

    WHOSE BACON IS BEING SAVED? THESE GLOBAL CONGLOMERATES HAVE SHAREHOLDERS INTERNATIONALLY …

    RUSSIA< CHINA< UNITED ARAB EREMITES ETC.

    Just how has it been determined that the US taxpayer is responsible to spend our childrens economic futures so that the world
    doesn’t suffer ? If the was happening in one of the other exchanges in the world who would be coming to the rescue the World Bank ?

    Our Leadership seems to be so afraid of taking any responsibility for its contribution to this investment gone bad that they encouraged
    for so long , that when the lobbyist of these industries face loss they say “Oh don’t worry we will just petrify our citizens and grab a trillion
    dollars to hand you.

    WHEN WILL THE PEOPLE FINALLY SAY ENOUGH?????

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