There's an email for dummies going around. It suggests that instead of bailing out AIG for $85 billion, the US split the money among the approximately 200 million adults over 18 in the US, so each gets $425,000.
I've received at least five of these. The problem is, the math is wrong. Divide 200 million into $85 billion and you get $425, not $425,000.
If you get one of these, reply to ALL that they have it wrong.
Here's the email:
I did not write this, and unfortunately I don't know who did. This is an absolute great idea and I really wish that our corrupt politicians (oh, but that's redundant) would consider this. Please read it, and I think you will agree.
Thank you to whoever wrote this.
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 billion that equals $425,000.00. My plan is to give $425,0 00 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 would 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 - 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 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.