Here is my idea of a bailout plan. Very much on the delusional side, but hey, I can dream!
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 bona-fide U.S. Citizens 18 and over. Our population is about 301,000,000 +/- counting every man, woman and child. So 200,000,000 might be a fair stab at adults.
So divide 200 million adults into $85 billon that equals $425,000.00.
My plan is to give $425,000 to every person 18 or older 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 would have to pay $127,500.00 in taxes. That sends $25,500,000,000 right back to Uncle Sam.
But it means that every adult has $297,500.00 in their pocket. A husband and wife would 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 - what a great boost to new grads
-- Put away money for college - it'll be there
-- Save it 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 parents' medical insurance - health care improves
-- Enable Deadbeat Dads to come clean - or else
Remember this is for every adult U S Citizen including the folks who lost their jobs at Lehman Brothers and every other company that is cutting back. Of course, also 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 tax credit ( "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.
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 the "We Deserve It Dividend" more than the geniuses at AIG or in Washington DC.
Remember, this 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.
Feel free to pass this along to your friends as it's either good for a laugh, a tear, or a very sobering thought on how to best use $85 Billion!!
