Let’s talk about how you can get a real chunk of the bailout money.
I heard about this plan from a friend back in September amid the initial talks surrounding the first bailout plan. I thought it was a good idea then and I think it’s an even better idea now.
In the last week or so, the media has been vaguely hinting at this idea in one form or the other. It seems to be gaining favor as more people hear about it. I’m posting it here as a public service and to ask for your help in circulating it (if you’re inclined) because I think it needs to be on the table as a viable alternative to what is being proposed.
The plan as outlined only considers the $85 billion that was paid to AIG.
The Plan:
Instead, of giving $85,000,000,000 to banks, give it to the people of America.
To make the math simple, let’s assume there are 200,000,000
Bona fide U.S. Citizens 18 years old and up.
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 each.
The plan is to give $425,000 to every person 18+ in a check like the “stimulus checks issued under the Bush administration. Remember that the idea of giving every citizen a stimulus check of either $300 or $600 was to help boost the economy (BIG JOKE).
Of course, this money 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.
That leaves every adult 18+ with $297,500.00 in their pocket; a husband a wife would receive $595,000.00 – a real stimulus check, right?
Answer A Simple Question, Please
What would you do with $297,500.00 or a $595,000.00 stimulus check in your family?
What do you think most people would do with that money? Right. Put in back into the economy!
Here’s Where The Money Would Most Likely Go
People would:
- Pay off their mortgages and rents- This goes directly to the banks. – housing crisis solved.
- Repay college loans – what a great boost to new grads
- Buy a new car – create jobs and eliminates need to save the car industry.
- More shopping (clothes, shoes, electronics, computers, etc.- will boost the sagging retail industry
- Put away some money for college – it’ll be there for future use but is immediately available for lending
- Save in a bank – creates money to lend to businesses and entrepreneurs.
- Invest in the market – capital drives growth.
- Buy real estate
- Pay for your medical insurance – health care improves.
Etc, Etc…
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 the Armed Forces, too.
Also remember this is with only $85 billion not the $750 billion that was actually paid out. Nor does it take into account the $800+ billion now under consideration. Do the math with those numbers and you might not get any sleep for a few nights.
Lastly, remember, this plan only really costs $59.5 Billion because $25.5 Billion is returned instantly in taxes to ‘Uncle Sam.’
If the country is serious about boosting the economy, there is no better way to effectively and immediately do this than by giving the money to the consumers and letting them put it back into the economy. Forget about a punny $500 or $1,000 stimulus check.
If there’s going to be a bailout valued at a trillion dollars or more, bail out every adult U S Citizen 18+!
Would it work? What do you think? Would you be for or against such a plan?
Leave your comments.
