Wednesday, September 24, 2008
BAIL OUT PLANS FOR THE ECONOMY
Bush has his plan; the other side will have their plan; I had a thought the other day and today got an e-mail that was pretty much the same thing: if we are bailing out the economy, why start by giving all that money to the big corps? Why not give it to the homeowners and then they can pay their mortgages, then the big companies are saved, and so are the home owners. Makes sense to me.
But this email I got today broke it down a bit. And was based on the measly AIG 85 billion dollar bail out, not the new 700 billion dollar general bail out: do you have any idea how much money that is? Take the 85 billion dollar bailout that has already been done- how about over a quarter million dollars for every person in the US over the age of 18.
How can a company need that much money? That is simply ridiculous.
But, if you are going to do it, let's do it trickle up this time.
If the gov is going to bail out the economy with the tax payers' money, our money, then give it to us, not to the big companies that have already ripped off the people and gotten into an untenable position exactly because of their un-indicted criminal behavior.
So, here is the Birk Economic Recovery Plan:
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 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 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!!
By the way, note that this would also save the Gov a lot of other money...
Um, er, Jud, better ask your friend to check his math. $85 billion (85,000,000,000) divided up among 200 million (200,000,000) adults is a measly $425, not $425,000--better than nothing, but not much of an economic stimulus.
Thanks for that: I thought it might be off, but my calculator wouldn't handle that many zero's- and I still liked the point anyway.Post a Comment