07 October 2008

a new take on the aig bailout. . .

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 (WDID).

to make the math simple, let's assume there are 200,000,000 bona fide u.s. citizens 18 and older.
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.

divide 200 million adults 18+ into $85 billon that equals $425,000.00. my plan is to give $425,000 to every person 18 and older as a WDID.

of course, it would not be tax free.

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 and older has $297,500.00 in their pocket. a husband and wife gets $595,000.00.

what would you do with an extra $297,500.00 to $595,000.00 in your family?

pay off your mortgage - housing crisis solved.
repay college loans - a great boost to new grads.
put away money for college - it'll be there.
save in a bank - create money to lend 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 and older, including the folks who lost their jobs at lehman brothers, and every other company that is cutting back.

let's not forget those serving in our armed forces.

if we're going to redistribute 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 and older!

as for aig - liquidate it. sell off its parts. let american international group go back to being AIG.
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 WDID more than i trust the geniuses at AIG or in washington d.c.

and remember, the WDID 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.

1 comment:

Susy said...

hmmmm......good idea but.....are you sure about the math?

85 billion/200 million = ? $425.00

hope you're well. we'll survive.

I'm going off to a temple to hang with some Buddhists. It's a beautiful day in Beijing. Part of me wants to go shopping, but research/work calls!

I'm almost adjusted to jet lag, just in time to get on a plane Monday back to the US (and 8:30 am Tuesday class). Agh.