$85,000,000,000 bailout? I’ve got a better business plan…
(35 votes, average: 3.80 out of 5)
Loading ...According to one American…
“I’m against the $85,000,000,000.00 bailout of AIG. Instead, I’m proposing that the government invests the said $85 billion in a “We Deserve It” fund.
To make the math simple, let’s assume there are 200,000,000 bonafide U.S. Citizens over the age of 18. Our population is about 301,000,000 give or take a few (counting every man, woman
and child), so 200,000,000 might be a fair stab at adults 18 and up.
So, $85 billion divided by 200 million adults equals $425,000.00. My plan is to pay that $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 beneficiary would owe $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 some 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 US 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. If we’re going to do an $85 billion bailout, let’s bail out every adult US Citizen 18+!
I trust that my fellow American adults would put the $85 billion “We Deserve It” Dividend to better use than geniuses at AIG or in Washington DC .
Ahhh…I feel so much better getting that off my chest.”
(The views expressed above are not necessarily the opinions of Offbeat Earth. They are merely reproduced here for your viewing and commenting pleasure. Enjoy!)
Are you aware that 85 billion / 200 million is 425, not 425,000.
The 85,000,000,000 bail out is not about helping America, its about hurting America. This is a very good idea but it would require a Government that wasn’t out to kill us all and leave us homeless while they and their buddies own everything.
That “one American” you speak of cannot do simple math. But that doesn’t surprise me, after all, they are American.
hey, this is a stupid idea! want to know why $85B divided by $200M is only $425 per person. so your not really helping anything other than it would be a pretty nice stimulus package.
Didn’t your payoff to all Americans 18+ seem a little too good to be true?
As “Wise Golden” pointed out your math is a slightly off… kinda ruins your whole idea here.
oh yeah, and get ready for about 1000 comments of pointing out your math flaw and random name calling. You’ve made it onto StumbleUpon.
I am sure they get the idea that the math was not correct after four people pointing it out. Perhaps that was part of the humor-who knows. I do think that it is funny for the sake of the “author’s” proposed solutions-however unrealistic they may be.
[...] saw this post and, to me, makes a thounsand times more sense that the bullshit that’s about to be ramrodded [...]
“I’m telling ya for the last time on September 25th, 2008 at 5:04 pm
I am sure they get the idea that the math was not correct after four people pointing it out”
Here come the trolls. The comments were done within a couple mins of each other. Previous comments were probably not seen before other had made their own. Thanks for sharing though.
Thank you J
YW!
The cost of Iraq War has reached $500B since 2002. almost the amount of the bailout. http://zfacts.com/p/447.html
funny, hu?
If AIG goes insolvent, meaning they have no money to pay the insurance claims, who do you think is still going to have to bail out every large buiness who has millions in claims… the government is. AIG backs most big business and about 60% of the banking industry. These guys do not have small claims. Lets say AIG cannot pay their claim and the business is out a ton of money how do you think they will reclaim the money, either they file bankruptcy or pass the cost back to the public or the government has to bail them out so our economy does not collapse. Plus the loss of jobs would be enormous even hurting the economy more. One other point, the government is actually buying stock in AIG with the money not just giving them it. The government will eventually get the money back hopefully with interest.
Why reward bad business? I would rather see genuine capitalism (not this mixed economy bullshit) do its job. Bad businesses SHOULD fail. Miserably. And the govt should be shamed for becoming so entwined in these “private” companies that our national economy is reliant on them. I would rather suffer through a small depression than continue to create a sense of false financial security. Uncle Sam, stay out of our pockets, stop propping up insolvent companies, stop bailing out moronic business men. Let capitalism do its job.
FYI; it’s not the poster’s math. This thing has been circulating around the internet and radio shows for a while. It’s fun to listen to people get all excited about it and then explain to them the math problem. I did it at work today. Mmm.. schadenfreude…
I know the math is wrong, but $425 is a good number to look at. Supply and demand tells us that if everyone in the US got $425, inflation would rise. Now think about a $700B infusion of cash into the economy. If you’re smart, you’ll move your money into Euros or oil and watch the value of the dollar plummet and laugh all the way to the bank. I’d expect double digit inflation in about 18 months. It’s nice to see that risk doesn’t mean a chance to lose your investment, it just means the chance the government will bail you out.
Well it was a cool idea until the Math club had to ruin it for the math challenged folks.
Genius plan! I say we stick with the original $425K per person plan though. Keeps it simple.
Hmm. Guess the $85 billion could go a long way if used for math education.
So we only get $127.50 after %30 taxes? Cant even go grocery shopping.
Clearly photoshopped, you can see the edges.
BTW didnt Russel Crowe make the same stupid suggestion on Jay Leno?
Hmmm…Or Corporate oil could bail out the economy since they seem to be the only ones not having a crisis… Just a thought
This article brings the FAIL. And Kimberly’s comment. Considering their profits are way smaller than the bailout, we’d all end up with maybe $5 each.
Your math may be off by a couple digits, but I agree with the principle - I doubt the bailout is going to help us in the long run. In fact, I’m pretty sure its not going to. If anything, supporting and helping those who’ve lost their homes pay off their mortgages with repayment in the future would be the best plan. Probably impossible due to existent federal standards, but you’re on the right track here.
Long story short, the banks fail at capitalism, I see no reason to throw money at them and reward them for it. Hoover tried that for the stock market during the Great Depression, after all.
AMEN!!!
I agree this post is completely senseless. First off there are way more than 300m people in the united states, I believe it is closer to 500m.
Secondly you cannot do simple math.
I can’t believe that one of your fellow Americans tries to throw and idea out there to help the country on a hypothetical level, and you assholes bash him for the one thing that we probably will have taken away from us, A OPINION. See, this is what America is all about.. someone works there ass off and comes up with a way to help problems and situations in this country and people that have not put in any effort come along and kick it in the nuts. And you wonder why this country is falling apart.
OOhh and by the way… that $85,000,000,000 that the government gave to AIG was our tax money. And they are catching board members racking up hundreds of thousands of dollars in resort bills and using our $85 billions for vacation. That should make you so pissed that you would want part of a resolution in this country and get rid off all theses money grubbing idiots that don’t care about us and only care about corporations.
Everyone has a lot of money, business’s put prices up because of this. Before you know it we’re screwed again.
My suggestion is for you to think of some other way because obviously you are no good in calculations. Keep trying and who know you might even come up with something credible.
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Even if his math was correct give most people that kind of money they will quit there jobs hey someone’s got to flip burgers. Despite the math issues the concept is sound rather than paying out to everyone how about just paying off peoples home mortgage anything left over pass on to small business working your way up to AIG.People ,despite the purposeful actions of the banks handing out mortgages to those they knew had no way of paying,most property owners have some level of financial acumen if mortgages were paid off those working would move that now freed up income to home improvement new cars going out for dinner maybe investment.Moneys spent by many rather than disappearing into the electronic banking system will do far more than what has been planned.
I know this is a new concept filling from the bottom not tricking down .For those defenders of free market that’s what got us here.
you’re..uh…kinda off be a couple zeros my good sir.
I know I do