I’m against the $85,000,000,000.00 bailout of AIG. Instead, I’m proposing that the government invests the said $85 billion in a “We Deserve It” fund.
To make the math simple, let’s assume there are 200,000,000 bonafide U.S. Citizens over the age of 18. Our population is about 301,000,000 give or take a few (counting every man, woman
and child), so 200,000,000 might be a fair stab at adults 18 and up.
So, $85 billion divided by 200 million adults equals $425,000.00. My plan is to pay that $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 beneficiary would owe $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 some 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.
Remember this is for every adult US 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. If we’re going to do an $85 billion bailout, let’s bail out every adult US Citizen 18+!
I trust that my fellow American adults would put the $85 billion “We Deserve It” Dividend to better use than geniuses at AIG or in Washington DC .
Ahhh…I feel so much better getting that off my chest.