How Much is a House Noboday Wants Worth?
The New York Times recently ran this story and it asks a good question. This is the kind of $700 billion dollar bail out the government is considering. Much of the troubled investments are properties nobody wants in hard-luck areas nobody wants to buy in. Chances are if these investments can’t be priced the government will overpay for these investments, costing the tax payers more. Since the tax payers are the ones ultimately going to pay the price wouldn’t make sense to give each and every tax payer some form of interest in this bail out that would pay dividends for years and years to come?
Here is an interesting email that has been ciruculating the country… Sounds good to me!
I¹m against the $85,000,000,000.00 bailout of AIG.Instead, I¹m in favor of giving $85,000,000,000 to America in a We Deserve It Dividend!
To make the math simple, let¹s 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 425,00000. 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%. SO ……. 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 - it¹ll 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 let¹s 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 PresidentIf 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 its a crazy idea that can never work. But can you imagine the Coast-To-Coast Block Party! How do you spellEconomic 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 Family plan only really costs $59.5 Billion because $25.5 Billion is returned instantly in taxes to Uncle Sam.
I would take the cash, wouldn’t you?
September 27th, 2008 at 7:34 pm
Nice writing. You are on my RSS reader now so I can read more from you down the road.
Allen Taylor
October 2nd, 2008 at 1:00 pm
Allen thanks for your comment.