A Personal Bailout Plan.....
I haven't done all the math on this but it surely sounds good compared to reading my stock/money market report this month! Something to think about.
I'm against the $700 billion bailout of Wall Street. Instead, I'm in favor of giving $700,000,000,000 to Americans in a "We Deserve It Dividend".
To make the math simple, let's assume there are 200 million bona fide U.S. Citizens aged 18+. (or 21)
Our population is about 301 million +/- counting every man, woman and child. So 200 million might be a fair stab at adults 18 and up. So divide 200 million adults 18+ (or 21) into $700 billion that equals $3.5 million. My plan is to give $3.5 million to every person 18+ (or 21) as a We Deserve It Dividend.
Of course, it would not be tax free. So let's assume a tax rate of 30 percent. Every individual 18+ would then have to pay $1.05 million in taxes. That sends $210 billion right back to Uncle Sam. But it means that every adult 18+ (or 21) has $2.49 million left in their pocket. A husband and wife would have $4.98 million.
What would you do with nearly $5 million after taxes for your family?
Pay off your mortgage - housing crisis solved.
Repay college loans - what a great boost to new grads.
Put away money for your kids' college - it'll be there.
Save in a bank - create money to loan to entrepreneurs.
Buy a new (high mileage!) car - create manufacturing jobs.
Invest in the market - capital drives growth.
Pay for your parent's medical insurance - everyone's health care will instantly improve.
Have plenty of money left go go out to dinner every night, creating lots of new jobs for those poor kids that aren't quite 18.
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 ("vote buy") economic incentive that is being proposed by one of our candidates for President.
If we're going to do an $700 billion bailout, let's bail out every adult U S Citizen 18+ (or 21)!
We deserve it and Wall Street and its regulators do not.
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 $700 Billion We Deserve It Dividend more than the geniuses at AIG or Washington Mutual. And remember, this plan only really costs $490 Billion because $210 Billion is returned instantly in taxes to Uncle Sam.
Ahhh...I feel so much better getting that off my chest.
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 $700 Billion!!
Everyone will be somewhere forever ( Thomas B.Warren)
I'm against the $700 billion bailout of Wall Street. Instead, I'm in favor of giving $700,000,000,000 to Americans in a "We Deserve It Dividend".
To make the math simple, let's assume there are 200 million bona fide U.S. Citizens aged 18+. (or 21)
Our population is about 301 million +/- counting every man, woman and child. So 200 million might be a fair stab at adults 18 and up. So divide 200 million adults 18+ (or 21) into $700 billion that equals $3.5 million. My plan is to give $3.5 million to every person 18+ (or 21) as a We Deserve It Dividend.
Of course, it would not be tax free. So let's assume a tax rate of 30 percent. Every individual 18+ would then have to pay $1.05 million in taxes. That sends $210 billion right back to Uncle Sam. But it means that every adult 18+ (or 21) has $2.49 million left in their pocket. A husband and wife would have $4.98 million.
What would you do with nearly $5 million after taxes for your family?
Pay off your mortgage - housing crisis solved.
Repay college loans - what a great boost to new grads.
Put away money for your kids' college - it'll be there.
Save in a bank - create money to loan to entrepreneurs.
Buy a new (high mileage!) car - create manufacturing jobs.
Invest in the market - capital drives growth.
Pay for your parent's medical insurance - everyone's health care will instantly improve.
Have plenty of money left go go out to dinner every night, creating lots of new jobs for those poor kids that aren't quite 18.
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 ("vote buy") economic incentive that is being proposed by one of our candidates for President.
If we're going to do an $700 billion bailout, let's bail out every adult U S Citizen 18+ (or 21)!
We deserve it and Wall Street and its regulators do not.
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 $700 Billion We Deserve It Dividend more than the geniuses at AIG or Washington Mutual. And remember, this plan only really costs $490 Billion because $210 Billion is returned instantly in taxes to Uncle Sam.
Ahhh...I feel so much better getting that off my chest.
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 $700 Billion!!
Everyone will be somewhere forever ( Thomas B.Warren)
Replies to This Discussion
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Permalink Reply by Meg loves the classics on -
Aah ... Sara beat me to the math.
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Permalink Reply by Jordysandoz on -
So I typed in the wrong word....it might be old to you and to me, however the concept is still a decent one.
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Permalink Reply by Jordysandoz on
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true....As usual there is always stipulations for who gets what and why they should.Which in any case isn't bad. I can think of people who shouldn't qualify. I just think its time that the American People fix the problem that the government can't. Like I said just a complicated thought apparently. haha
Also I would do fine with 3500....but I don't own a house or anything like that.
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Permalink Reply by Jordysandoz on
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Haha yea probably. I suppose it could be how we live now, just everyone would have more money! haha
Its like how I feel about the whole recession thing....I mean it didn't really affect me before....and I don't see it changing anything for me now, then again I am just middle class.
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Permalink Reply by Missy... don't hate! on -
Or your car, or a tent under an overpass. Or having to give your kids ketchup on crackers that you steal from Denny's.
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Permalink Reply by Jordysandoz on
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I think that what I said about being middle class was taken out of context. I used that comment as a way to say that's why I think the recession has changed anything for me. I still have my daughter, go to school and live paycheck to paycheck. I am very thankful that I sleep in a house and don't have to steal from Denny's.
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Permalink Reply by Jordysandoz on
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Yes I got that it didn't read that way...that is why I tried to explain what I meant.
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Permalink Reply by Retro on -
As someone with a degree in Economics, my advice is: If you want to help the economy, continue to buy products and services. The layoffs are happening because demand is down so they don't need to supply as much. This is what is creating the financial problems with companies. The stock market is doing crazy things. (I don't want to look today), and people are scared. They are pulling money OUT of the economy which is not helping overall, it's hurting. I can't say I blame them on an individual basis, but when a lot of people do this, and are scared to buy and start saving, the economy contracts.
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Permalink Reply by Jordysandoz on
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This makes a lot of sense to me. Thank you! I am certain that I didn't think about some of that. I agree though, I can't blame them. I would take all mine out as well because well nobody wants to lose everything.
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