Tuesday, September 30, 2008

Math Is Apparently Not The Answer

Anyone who has seen the following message, most likely spread via email:
With all the ideas being thrown around as to how to save the good ole USA from its current financial woes, here is the BEST idea so far!!

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 bonifided 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.oo

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 have $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, all of those that are serving in our Armed Forces.

If we're going to re-distribute wealth let's really do it...instead of
trickling out a puny $1,000.00 ('buying the vote') 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! Can you say "Economic Boom"? Sure you can.
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, my plan only really costs $59.5 Billion because $25.5
Billion is returned instantly in taxes to Uncle Sam.
should make sure just actually to read it and think. Don't just take it at face value because it was "on the internet". It's off by a factor of 1,000 (i.e. $85 billion/ 200 million = $425.00, and not $425,000).

So, this lame idea proposes to give us all back enough for an iPhone and one month of the cheapest level of service, while giving back $25.5 billion in taxes. Yeah, great idea. How about if our lovely representatives just stick to the very limited powers enumerated in the Constitution (yeah, that old thing) and we'd have a far larger chunk than $279.50 back in our pockets on a regular basis.

Judging by the ubiquity of this darned message going around, folks could use the money to spend on some math classes and a critical thinking book or two.
posted by Dennis at 8:16 AM (permalink)


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