Thursday, October 2, 2008

Interesting Alternative to the Financial Crisis

The following is a copy of an email I received recently. I found this email to be very entertaining. The facts are a bit flawed and the structure of this piece is not Pulitzer Prize winning, but the underlining message is interesting. As always, please let me know what you think.

An Alternative Solution to the Wall Street Crisis and the Housing Industry $85 Billion Throw Away and Bailout Plan...
A Must Read - The US and the Best Financial Solution

I'm against the $85,000,000,000 Billion Bailout of AIG, and the rest...

Instead, I'm in favor of giving $85,000,000,000 to Americans in a We Deserve It Dividend, and let the let the chips of financial failure stay where they belong. To make the math simple, let's assume there are 200,000,000 bonafide U.S. Citizens 18+. The US population is about 301,000,000 /- counting every man, woman and child.

So 200,000,000 might be a good guess at Adults 18 Plus 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 the We Deserve It Dividend.

Let those who failed our trust fail on their own and $425,000 each may eliminate the losses of those who purchased the Stock...

My proposal does not include a Tax Increase, and we should be able to pay our Federal Income Tax as though we earned the money over a period of 30 years so this adds only $14,000 a year to our Gross Income.

We could look at it this way too so assume a flat tax rate (No more Free Rides for those Earning the Most.) of 30%. Every individual 18+ has to pay $127,500 in Taxes today.
This sends $25,500,000,000 right back to Uncle Sam, and leaves every one almost $300.000 in their pocket.

A husband and wife team has $595,000. What would you do with $297,500 to $595,000.00 for your family?

* Paying off your Mortgage solves the Housing Crisis.
* Repaying College Loans eases the pressure of our new Grads and puts money back in to be loaned.
* Putting away Money for the Kids and College - OK - That could drive up the price of Gold because I am not sure I am going to jump back into Wall Street until there is Transparency like the online Checkbook that Palin uses for the State of Alaska and this eliminates the illegal accounting practices used to get where we are today.
* Place your Savings in the Bank for a fair rate and we create Money to Loan to Entrepreneurs.
* Buying a New Car would create new jobs, and with Transparency on Wall Street, I may invest and Capital Drives Growth.
* Pay for your Own or your Parent's Medical Insurance, and Health Care improves and companies like Blue Cross become competitive again.
* Deadbeat Dads have to Pay Up in advance...

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. These properties have real value. Let the private sector bargain hunters cut it up and clean it up. Here's my rationale. We deserve it and AIG doesn't. Are you sure this is a crazy idea, and I say Country First.

I trust my fellow adult Americans to know how to use the $85 Billion We Deserve It Dividend more than I trust the genius of Washington...

Send this to your own Congressmen because it makes more sense than what they are doing today. There is an alternative to Politics, Democrats, and Republican ... Place the People of America First and then Country First has real meaning...

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