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    Wednesday, September 24, 2008

    The "We Deserve It" Dividend: UPDATED

    UPDATE: THIS information is incorrect!!! Please see next blog at :

    My good friend Suzi sent this forward to me...sounds like a plan!

    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 adults in the U.S. 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 $425,000.00.

    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. 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

    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 let's really
    do it...instead of trickling out a puny $1000.00 ( "vote buy" ) economic incentive.

    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 do the geniuses at AIG or in Washington DC.

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


    mary n said...

    THAT WOULD BE FABULOUS!!! What a wonderful fantasy. Oh well, back to our regularly scheduled recession.

    Anonymous said...

    Cathy -- I don't know who you are, but you need to work on your math skills. Work it out for yourself. It only works out to $425 per person. Whoever is circulating that idea is an idiot. Don't believe everything you read.

    Anonymous said...

    This has turned up in numerous emails to me as well as on numerous blogs. It boggles my mind that people don't take the time to actually check the math before they post this or forward it to someone in an email.

    Rufus McCain said...

    I thought this was astonishingly brilliant ... until I checked the math. This fellow is had a good joke on everyone.

    Here's a better plan from Quin Finnegan at

    Keys to Surviving the Present Financial Crisis
    I may not be a professional economist, or even an amateur one, but I know plenty about Depression, towards which everyone and everything seems to indicate we are headed. So I've decided to make my own four point plan available to the President, members of Congress, Wall Street tycoons and good taxpayers everywhere. Here it is:

    (1) Do your job, whatever that may be.

    (2) Eat healthy.

    (3) Spend as much time as possible with the people you love.

    (4) Get plenty of sleep.

    If (1) proves to be a serious problem, your job is to get a job, or a better job.

    Anonymous said...

    I didn't do the math but when i heard this bail out wallstreet plan the government was going to spend 700 billion on it, someone do the math on that. just a thought.

    Anonymous said...

    The math doesn't work out on this... however, the thoughts are good.
    How about using that money to return the foreclosures that started this (due to bank's bad lending practices) or better yet, return everyone's APR back to what they agreed to originally as a fixed rate instead of the rate that they can NOW not afford (tlked into by brokers and real estate agents) better even still take on the ENTIRE credit industry and stop credit cards that jack their rates to 20-30% if you are late on a payment! That never made sense - so you are late on a payment of your balance that's at 6%, let's put you at 30% and see how you do..... How stupid can corporate america be?.