Jotd, bailout...

[TurboDuane]

Subject: The Birk Economic Recovery Plan

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Sobering to realize the AIG bailout is going to cost every adult American $425,000.
And then there are the other bailouts...
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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 U. S. 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.

[altiain]

Only one minor problem with that - $85,000,000,000 / 200,000,000 = $425, not $425,000. Perhaps the guy who came up with this idea was a former securities analyst at Lehman Brothers? That would explain the math gap.

[MadMonkey]

Only one minor problem with that - $85,000,000,000 / 200,000,000 = $425, not $425,000. Perhaps the guy who came up with this idea was a former securities analayst at Lehman Brothers? That would explain the math gap.

LOL!!

[Titus]

Only one minor problem with that - $85,000,000,000 / 200,000,000 = $425, not $425,000. Perhaps the guy who came up with this idea was a former securities analayst at Lehman Brothers? That would explain the math gap.

Not to mention the fact that the AIG Bailout was not a gift, but a 2 year loan at 11.5%/yr interest. The government will get back the money as the company sells off assets. The common stock shareholders are the ones that get the shaft.

[cam76034]

Only one minor problem with that - $85,000,000,000 / 200,000,000 = $425, not $425,000. Perhaps the guy who came up with this idea was a former securities analayst at Lehman Brothers? That would explain the math gap.

Kinda blows that coast to coast block party.

[Titus]

I have a better idea... Lets take the interest from the loan to AIG and give each tax paying American a cut. That should be around $100 a person. The government will of course tax you on that $100, so it is really more like $70 a person. since most people will spend the $70 on retail goods, it will also pump about $5 a person into local economies via sales tax.

So What's that work out to? $6 billion in added income tax revenue for the feds, $1 billion in sales tax revenue for the local economies, and $65 in goods for every American taxpayer. And who do we have to thank for it? The AIG senior management! They may just have done enough to pull us out of recession.

Wait... I think I forgot something... I bet all that added retail spending created jobs too!

[Nexus Flux]

Well look who has time to get busy with the TI-83 now that he works at home.

[XM_Rocks]

If you search "Birk Economic" on Google you see this spread like wildfire.

Its amazing reading some of the other posts that no one seems to question the obviously flawed math.

[Billy Blaze]

briefly...I think it's a bad idea.

[MadMerv]

Quick! Give me my $425,000 before someone figures it out.............

[TurboDuane]

lol, I should have checked the math. This came as an e-mail today so I thought I'd pass it along. I was totally shocked with the numbers, but didn't bother to check them, heck we even talked about it at lunch and no one caught the error.

[cam76034]

I'm shocked that something on the internet wasn't true!

[MadMonkey]

What would $700 billion actually buy?!?

You could buy 21 new Marlins Stadiums for EACH COUNTY in the state of Florida

You could buy braces for everyone in Great Britain.....and France!

You could buy all 32 NFL teams - 27 times.

2 cups of Starbucks every day for a year for every person in Brazil

Gasoline for a year for every adult in America. (175 billion gallons of gas)

You could literally buy the world a Coke. One 2-liter bottle per week for a year.

You could buy a 60-inch HDTV for every man, woman and child in the U.S.

Sounds like Monopoly money? It should. You could buy 10 Monopoly games for each of the 6.7 billion human beings on planet earth.

You could buy 7 Mac laptops for every school-age child in U.S.

You could buy every adult in Miami-Dade County an average priced house

Rolex watches – you could buy 1 for every woman in the U.S.

You could buy everyone in America 2200 McDonalds apple pies.

10 four-year degrees from the University of Florida for every child under 18 in South Florida

You could buy 373 basketballs for every child in the U.S.

Sun Sentinel newspapers – Two and a half years of 7-day subscriptions for every person in India

You could buy a brand new Hummer for each of the 11 million people on the island of Cuba

You could buy 2 mountain bikes for everyone in China

You could buy every winner of the MTV Video Music Awards 10,000 Lear Jets

You could buy 438 pounds of rice for every single person in Africa.

You could buy 200 four-packs or Play-Doh for every child under 14 on the planet

You could buy 400 trees for every one of the 7 million homes in the state of Florida

You could buy a Caribbean Island for every single person in the state of South Dakota.

1.5 million lightbulbs for every person in Alaska

Entire population of South Florida could cruise around the world continuously for 8.4 months

[Keifersmith]

http://www.theonion.com/content/vide...the_government