bailout

Sep. 24th, 2008 04:38 pm
ragani: (Pen-hmm)
[personal profile] ragani
Sent to me from my mother:


Subject: FW: $85,000,000,000.00 bailout of AIG 
Date: Wed, 24 Sep 2008 10:17:35 -0400

 

I'm against the $85,000,000,000.00 bailout of AIG.

 

Instead, I'm in favor of giving $85,000,000,000 to all Americans as a "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 billion that equals to a hefty "$425,000.00"

 

My plan is to give $425,000 t o every person 18+ as a "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 $25.5 Billion right back to Uncle Sam.

 

But it means that every adult 18+ has $297,500.00 in their pocket. A husband and wife 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 – "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 parent's medical insurance = "health care improves"

 

Remember this is for every adult U S Citizen 18+  including the folks who lost their jobs at Lehman Brothers and every other company

 

If we're going to re-distribute wealth let's really do it...instead of trickling out

 

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 and Sell off its parts. 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" we were not invited to the last 10 years of "party time" bonuses

 

And remember, this plan only really costs $59.5 Billion because $25.5 Billion is returned instantly in taxes to Uncle Sam.

 

 

Joseph A. Dezio Trine Aspects, Ltd. 
50 Broadway Suite 1501 New York, NY 
212.742.1987 x107 
212.742.8061 fax

Date: 2008-09-24 11:50 pm (UTC)
From: [identity profile] corva.livejournal.com
HUZZAH! It sure as heck would make my decade! We might could pay off the house and Shelby's school loans...*dreamy*

Cute...

Date: 2008-09-25 12:03 am (UTC)
From: [identity profile] foogod.livejournal.com
...but not exactly equivalent. The "bailout" plan isn't exactly a "giveaway" of the money. The plan is actually to buy securities from the firm and then resell them to other people, thus getting (hopefully) much of the money back, while attempting to re-jumpstart the stalled marketplace which is part of the problem, and providing enough liquidity to the financial firms to restore confidence and keep them from going down holding a lot of the economy with them.

The US government doesn't have $85 billion (or even $60 billion) to just give away. It'd have to borrow it (From whom? From the American public, of course) so basically if we just gave all that money to ourselves, all we'd be doing is taking out a huge loan we'd be unlikely to be able to pay back later (essentially, max out our credit cards with cash advances). Or in other words, doing on a national scale exactly the same thing that got us into this mess when too many people did it on a personal scale (with their mortgages) to begin with.

Don't get me wrong, the current bailout plan is really badly designed, and I'm not in favor of it either, but this proposal, while amusing, is a far far worse idea if taken seriously..

Re: Cute...

Date: 2008-09-25 12:22 am (UTC)
From: [identity profile] jenlemus.livejournal.com
Exactly.

A $425K loan to myself, from my future tax revenue and my children's tax revenue and their children's tax revenue...

Let's give it to the bankers who almost tore down our economy with their greed!

Re: Cute...

Date: 2008-09-25 08:28 pm (UTC)
From: [identity profile] ragani.livejournal.com
The Swedes have a suggestion, from their own experience:
http://tinyurl.com/4ouy4a

Date: 2008-09-25 01:05 am (UTC)
From: [identity profile] fools-and-irish.livejournal.com
I'm seeing a last-minute 3rd-party run at the White House...

Date: 2008-09-25 09:53 am (UTC)
From: [identity profile] kairiwitch.livejournal.com
My mom sent me the exact same thing, lol- and one of the other problems, is the person writing it never did their math- I think it comes out to $425, NOT $425,000. Oops. It is math like that that got us into this trouble in the first place!!! :o)

Date: 2008-09-25 08:20 pm (UTC)
From: [identity profile] ragani.livejournal.com
Yeah, I thought that math looked wrong. Tooooo many 00000000's.

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