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I’m against the bailout of AIG

Hey everybody! I got this in an email the other day from the guys over at GrenadaTaxidermy and its just awesome. I had to pass it onto the world, but first digest these numbers and think about whats going on.

$29 Billion for Bear Sterns
$200 Billion for Fannie May and Freddie Mac
$85 Billion for AIG
There there is a the 168 Billion  stimulus package and a proposed $50 billion stimulus package in the works, we are talking over a half a trillion here.
Where does it ever end!?! My calculater just smoked.

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 $425,000 to every person 18+ as a We Deserve It Dividend.
Of course, it would NOT be tax free.

UPDATE this is wrong it would really be $425.00 – Im leaving this article up for content, but its not accurate.


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 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 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.

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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. 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 it’s a crazy idea that can “never work.”
But can you imagine the Coast-To-Coast Block Party!

How do you spell Economic 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 D.C.

And remember, The Birk plan only really costs $59.5 Billion because $25.5 Billion is returned instantly in taxes to Uncle Sam.
 

Check out this video:

2 comments ↓

#1 Chaz on 09.28.08 at 9:06 am

Here’s the guru’s suggestion:http://www.daveramsey.com/etc/fed_bailout/economic_cleanup_10887.htmlc

Where is your post-debate section? I’d like to get your view and get some “seize” viewers opinions. One candidate gave me more hope, how bout you?

#2 Mitch Costilow on 09.28.08 at 9:26 am

Hi Chaz thanks for commenting. Here let me repaste that link in hopes that it will be active to click on for others. I think it was a bit too close to your : to work

http://www.daveramsey.com/etc/fed_bailout/economic_cleanup_10887.htmlc

Now as for the debates. I have it recorded and have not watched it yet, but hear that McCain did poorly.

Also are you reading my mind?

Tomorrow will be a poll on the debates. I chose Monday for this as the weekends are slow. I want the poll to get as much traffic as possible to get the most out of it.

Thanks, and come back tomorrow to participate in the polls!!

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