RKNet Blog... Thing

LOL HAY GUISE. Disregard that I… you know what, nevermind, just… check snopes prior to reposting. See bottom for intro to relevant conversation. KTHXBAI.

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, thie 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

Editor’s Note: This was sent to me by my mother. I do have an email address of the original author of this, which I won’t publish here to save them spam. I will try to get a proper credit for this. In the meantime, if you like this idea a lot better than what’s been proposed, start talking about it! Talk about it even if you hate it. Either way, start talking!

Second Editor’s Note: It has come to my attention, thanks to the savvy of commenters and my own lack of homework, that the CORRECT payout, if the money were to be distributed to the approximate 200 million eligible US voters (which was about the number from the 2004 election), it would only amount to 425 dollars, not gorgeously seductive $425,000 previously quoted.

While it’s not the super-happy-fun-time I’d wanted to believe in, this leads to a change in the pre-existing and still very criticial discussion though:
Does that idea get reworked?
Do you cut out any household over a certain income level?
Do you conduct a survey to give citizens a chance to have their case reviewed for their debt to be bailed out just like the government proposed to bail out the debt of these companies?
Is a large scale government bailout at any level simply more harm than good?
Where does the responsibility of the consumers come in?
The responsibility of the companies?

The economy is not quite as easy to ignore as the actual government, because by having money at all you’ve agreed to participate in a system that follows certain rules and flows with trends in things like “buyer confidence” and other frighteningly nebulous concepts. (Which probably make a lot of sense to other, much smarter people, or at least more aneristic people.)

So, let us continue to focus on these issues and work on solutions - right, wrong or indifferent - because as long as we agree to play by these rules, then we’re obliged to learn how to make this game work for us. It’s your life, what do YOU want to do with it?

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