Posted on 09/26/2008 10:30:31 AM PDT by Revel
There is a mass email circulating around the internet. I just read that Senator Debbie Stabenow-D-Michigan was on C-span citing it to make a case. Instead of me telling you, Can anyone pick out the serious mathematical flaw in this "presentation"? (Email begins below)
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Subject: Sobering Perspective
From the "Non-financial" world:
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 bonafide 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 billon 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
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+ 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 US Citizen 18+!
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 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,
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!!
$425.oo, not $425,000.oo
85 bil divided by 200 mil is just over $400 - not $400,000
Your fast. How about running for congress. We could use you :)
They computed it using “English” Billions, which are three zeros more than “American” Billions...
Stabenow and the anonymous emailer aren’t the brightest tools in the shed.
Eh, $425,000.00 or $425.00, what’s the difference?
It’s WELL within the margin of error for a Congressional budget expert, isn’t it?
;^)
Whoever wrote this has a glaring error in their thinking, it is not American Gerneral Insurance company that is in trouble it is American International Group big difference.
Suppose you were an idiot and suppose you were a member of Congress. But I repeat myself. - Mark TwainIs this little gem of congressional idiocy on Youtube yet?
From what I’ve seen of Ms. Stabenow, I’d guess that there exist numerous species of ferns with higher IQ’s.
she may be a lib socialist feminazi, and a complete idiot to boot, but when i send her an e mail, unlike the republicans, i get an answer that is not a form letter ( but then maybe most of her constituents cannot spell )
What about do this in reverse?
Find 2 million homeowners with mortgages below 75% LTV and offer tax incentivesd/PMI waiver/something else? to encourage them to tap into their equity to invest $4000 into the “bailout”. Each would be a “shareholder” and would then benefit in any profit that is realized.
Yes, they could lose their $4000 but in the end, doing nothing will likely cause their property to be devalued more than that.
Am I thinking right? $4,000 x 2 million = $85 billion
Yep. Debbie Stabenow(sp?)(D) from Michigan was on CSPAN this morning presenting this.
Obviously a genetic Democrat (and did not stay at a Holiday Inn Express last night).
What’s more frustrating than receiving this spam all the time, is the fact that so far, no one who is passing it along can add or fact check it worth a flip.
wait a minute..what am I thinking? its not $85 billion is it? I thought it was $700 billion...I need to go refresh my memory.
I figure the $700 billion bailout is about $3,500 per taxpayer. I can’t believe the Dems put pork into the bill. Some of the pork would go to fund groups like ACORN. Simply amazing!
Well I don’t understand “English” math. I understand American math. The person who wrote this states that they are American.
“Our population is”
So if they used some trick in writing this then they knew full well how it would be read by Americans. And this Senator certainly took it that way. How does this English math work?
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