A Point Well Taken
(Editor’s Note: This e-mail has been making the rounds.)
I'm against the $85,000,000,000.00 bailout of AIG.
Instead, I'm in favor of giving $85,000,000,000 to all Americans as a '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 a hefty $425,000.00.
My plan is to give $425,000 to every person 18+ as a 'Dividend.'
Of course, it would NOT be tax free. So let's assume a tax rate of 30 percent.
Every individual 18+ has to pay $127,500.00 in taxes. That sends $25.5 billion right back to Uncle Sam.
But it means that every adult 18+ has $297,500.00 in their pocket. A husband and wife have $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 -- a great economic boost to new grads.
Put away money for college so it'll be there when you need it.
Save it in a bank and create money to loan to entrepreneurs.
Buy a new car and create jobs.
Invest in the market because capital drives growth.
Pay for your parents' medical insurance.
Remember this is for every adult U S Citizen 18+ including the folks who lost their jobs at Lehman Brothers
and every other company.
If we're going to re-distribute wealth let's really do it.
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 and Sell off its parts.
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. We were not invited to the last 10 years of 'party time' bonuses.
And remember, this plan only really costs $59.5 billion because $25.5 Billion is returned instantly in taxes to Uncle Sam.
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