A True Bail Out - Give AIG's $85 Billion to America in a 'We Deserve it Dividend'
October 2nd, 2008
Baby Boomer Magazine Reader: My plan is to take the $85 Billion from the AIG Bailout and give it to every person 18+ as a 'We Deserve It Dividend'.
Baby Boomer Magazine received this from one of our readers and we would like to share it with you.
I'm against the $85,000,000,000.00 ($85 billion) 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 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+ '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.
So, after taxes every adult 18+ has $297,500.00 in their pocket.
A household with husband and wife would then have $595,000.00.
What would you do with $297,500.00 to $595,000.00 in your household?
• 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 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, 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!!