Can they get behind this plan I got in email?
Subject: The Birk Economic Recovery Plan
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+.
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 $425,000.00.
My plan is to give $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 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+ 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 in a bank – create money to loan to entrepreneurs.
Buy a new car – create jobs
Inves t 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+ 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 $1000.00 ( “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+!
As for AIG – liquidate it.
Sell off its parts.
Let American General go back to being American Genera l.
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 Pa rty!
How do you spell Economic Boom?
I trust my fellow adult Americans to know how to use the $85 Billion
We Deserve It Dividend more than I do the geniuses at AIG or in Washington DC .
And remember, The Birk 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.
Kindest personal regards,
Birk
T. J. Birkenmeier, A Creative Guy & Citizen of the Republic
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 $85 Billion!!
P.P.S. Even if the number is 250 million adults, the share is $340,000 gross each!!!
($238,000 net after that estimated 30% federal tax rate)
Your state and local governments will want “their share” too, but think of all
the pre-financed public works projects that could get done. More jobs!
Repave streets and upgrade utilities—that needs labor, and equipment and materials.
This is way better than “trickle-down” economics—it would be “tidal wave” economics!
Make sure the $25 billion that goes right back to Uncle Sam gets used for debt reduction.
PPPS—I heard on the radio that the total of all recent and potential near-term bailouts may reach $500 billion. Put another way, half-a-trillion dollars. Or 500,000 million!
85 billion divided by 200 million is 425 dollars, not 425 thousand dollars.
Way, way, way off.
85 billion / 200 million = 85,000 million / 200 million.
The millions cancel so we have 85,000 / 200 = 850/2 = $425 per adult.
The rest of the arguments are just as silly.
After further consideration: If the government were to print up $425,000 to hand to every adult, your description of "tidal wave" economics would be correct. Everything it touches would be destroyed leaving nothing but wreckage and the crippled survivors envying the dead. Printing and distributing huge amounts of money is the way to hyperinflation Zimbabwe (and Weimar Germany) style.
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
If you were "lucky" enough to be in debt, that would largely wipe out debt. But the flip side is if you had anything saved in a bank or insurance plan you would be wiped out.
Put away money for college – it’ll be there
Save in a bank – create money to loan to entrepreneurs.
It wouldn't be worth crap though. Get out your piggy bank to keep your $100 and $1000 coins in.
Buy a new car – create jobs
Sure, if you want a $1 million sub compact.
Invest in the market – capital drives growth
Nope, the growth would be gone to a country with a stable currency.
Pay for your parent’s medical insurance – health care improves
If you don't mind paying $100,000 for a check up.
Even with the current complete bailout plan that injects "only" $3,800 per person, there is a risk of a big jump in inflation. A hundred times that would destroy the economy.
Tell your friend who emailed you this to stay away from the Treasury. We're in enough trouble already.