NationStates Jolt Archive

I got this in my email. I kind of like the idea. It's probably unworkable and the person is probably grossly underestimating the tax bite, but it would sure help my personal economy.

I don't know who this originally came from, but it's an interesting thought.


I like this and would love to nominate this guy for President. If he doesn't win, I would at least have him appointed Treasury Secretary.

This idea sounds just crazy enough to possibly work, so naturally it won't be given serious consideration. How great is our bureaucracy?


Greetings,

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 bona fide 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.

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 m edical 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 Coas t-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 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,


Your Friend


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!!

Problem: $85 bn/200 million = 85,000/200 = $425. Someone slipped a set of decimals. Or is old-school British enough not to quite get that the American billion is not a "bi-million" but what the British have called a "milliard."

Problem: $85 bn/200 million = 85,000/200 = $425. Someone slipped a set of decimals. Or is old-school British enough not to quite get that the American billion is not a "bi-million" but what the British have called a "milliard."

You would be correct. To give 200 million people $425,000 would require $85 trillion.

do you realize that no economist would agree with what you are saying

Problem: $85 bn/200 million = 85,000/200 = $425. Someone slipped a set of decimals. Or is old-school British enough not to quite get that the American billion is not a "bi-million" but what the British have called a "milliard."

Even $425 would help my personal economy, but point taken.

Maybe Congress should consider this with the nearly trillion dollar bailout of the financial industry. Most of us could probaby find better uses for the money than bolstering marginal companies who've run themselves (and the rest of us) into bankruptcy. The two bailouts together run to @$4000 each for every adult in the US - as a tax bite, that's pretty hefty.

Even the $700 billion bailout package would only net each of those 200 million $3,500.

Look at it this way: the $700 billion bailout is the government spending around $2,000 per citizen, including all ages. That's completely absurd. Guess who is going to suffer now? EVERYONE! Not just the people who screwed up.

Look at it this way: the $700 billion bailout is the government spending around $2,000 per citizen, including all ages. That's completely absurd. Guess who is going to suffer now? EVERYONE! Not just the people who screwed up.

We're all going to suffer anyway. People are losing their homes and retirement funds. I'm probably one of the least affected - being retired. I own my home (no mortgage), my retirement is from the University of California - small, but sufficient. My big concern is my 403B (like a 401K) which is with Fidelity - so far they seem to be ok, but the way things are going concerns me. Regardless of whether these companies are bailed out or not, the American people are going to get screwed.

Apart from the arithmetic, there's also the following problem:

Say everything had a price. Then you double the amount of money in the economy. Keynesian price stickiness notwithstanding, all you'd do is double the prices of everything. Nobody would be better off in real terms.

Of course, your mortgage is denominated in dollar figures, so that would work out nice for you - the real value of the debt you owe has just halved. But while you're celebrating, the bank isn't. Its next loan will have to be for twice as many dollars, and it's not clear where it's going to get them from. And particularly in the current situation, it would probably wise to try and avoid any additional pressure being brought to bear on them.

Apart from the arithmetic, there's also the following problem:

Say everything had a price. Then you double the amount of money in the economy. Keynesian price stickiness notwithstanding, all you'd do is double the prices of everything. Nobody would be better off in real terms.

Of course, your mortgage is denominated in dollar figures, so that would work out nice for you - the real value of the debt you owe has just halved. But while you're celebrating, the bank isn't. Its next loan will have to be for twice as many dollars, and it's not clear where it's going to get them from. And particularly in the current situation, it would probably wise to try and avoid any additional pressure being brought to bear on them.

Print more currency! Print more currency! :p

Print more currency! Print more currency! :p

Then we can really try to top Zimbabwe and be number 1.

the problem is if we refund this money to everyone the banking system will collapse before we can cash the checks.

Nobody said it was perfect.

Then we can really try to top Zimbabwe and be number 1.

No no we are going to do it differently. we will be printing Euros.

You mean the central bank of the USA is going to become a criminal institution? How daft.

The two bailouts together run to @$4000 each for every adult in the US - as a tax bite, that's pretty hefty.

Hey - it is only 1/8th of the US national debt/US citzen ;)

You mean the central bank of the USA is going to become a criminal institution? How daft.

We will make it legal for the US to print Euros. we will pass a law first.

Problem: $85 bn/200 million = 85,000/200 = $425. Someone slipped a set of decimals. Or is old-school British enough not to quite get that the American billion is not a "bi-million" but what the British have called a "milliard."
He wrote "$85,000,000,000.00", so it's not a British error.


Most of us could probaby find better uses for the money than bolstering marginal companies who've run themselves (and the rest of us) into bankruptcy.
Much for risking to lose your house? Your parents losing their retirement savings? The companies cutting down wages and salaries because they lost their assets?

The government sponsored this market, largely with Federal Home Loan Mortgage Corporation and Federal National Mortgage Association ensuring safe and cheap mortgages, thus leading to a rise in home prices and an illusion of actually nonexistent wealth backing the economy.
Thus, they can't just say "Hey, enough guys, we quit now!" and let happen exactly what it guaranteed won't happen.

I'm totally against any bailouts for any corporations for any reason. Let the market take its course and adjust itself in a natural way - regardless of how painful the short-term economy will be for everyone. A big bailout is only a band-aid. Those corp. sponsored bigwig politicians aren't looking at the negative long-term effects of a bailout on the economy. If this passes, is will hasten the downfall of this empire.

Limit the bailouts to be based on how much the top people are willing to lower their salaries? If a company needs a bailout, yet the CEO gets $60 million a year... gee, that salary must be COMPLETELY unrelated to the need for a bailout! >_>

I'm totally against any bailouts for any corporations for any reason. Let the market take its course and adjust itself in a natural way - regardless of how painful the short-term economy will be for everyone. A big bailout is only a band-aid. Those corp. sponsored bigwig politicians aren't looking at the negative long-term effects of a bailout on the economy. If this passes, is will hasten the downfall of this empire.

I like having my bank account and a future that doesn't involve me hunting to survive.

The problem is AIG has over $1 trillion worth of assets. So giving them $85 billion to protect the loans they have issued begins to make sense.

Even the $700 billion bailout package would only net each of those 200 million $3,500.

$3500 doesn't even pay off 1/10 of my student loans.