Not the Time for Greed and Entitlement
September 26, 2008 by John in Family, In the News, Money, Politics
My dad sent me the latest e-mail form letter circulating the net calling for the $85 Billion AIG bailout (now $700B) to instead be given to the American citizens. It calls this the “‘We Deserve It’ Dividend.” I call bullshit on that. I get a lot of e-mails like this from my family (don’t even get me started on the religious ones) and I don’t generally reply. Now I know he didn’t write it but it irks me that he (Update: he doesn’t) and probably most other Americans think this is a good idea. So I had to reply this time. I’m sure my reply will be written off as just another of John’s rants…
Whoever wrote this is retarded. It’s just more greed and entitlement. Nobody “deserves” anything.
How about they don’t spend the money at all, money we don’t have because of the war and because the republicans have been spending like drunken sailors (no better or worse than if the democrats by the way) and STOP FINDING WAYS TO DEVALUE THE DOLLAR FURTHER! Devaluing the dollar is essentially a hidden tax. We all pay for it and don’t even realize it.
These companies should be allowed to die for their poor business practices.
Unfortunately the bailout will go ahead, further damaging our country and our currency value in the world. We need to avoid printing more money. This is not the time for greed and entitlement. It’s time for us to tighten our belts and clean up this mess.
Here is the original message (YES, the math is incorrect, but I’m trying to make a larger point):
Ever think of it this way??
I’m against the $85 BILLION 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 bona fide U.S. citizens, aged 18+.Our population is about 301 million counting every man, woman and child. So,
200,000,000 might be a fair stab at adults 18 and up. Now, divide 200 million,
18+ adults into $85 billion - that equals $425,000.00 each! Yes, my plan is to
give that $425,000 to every adult as a “We Deserve It” dividend.Of course, it would NOT be tax free. So, let’s assume a tax rate of 30%.
Everyone would pay $127,500.00 in taxes. That sends $25.5 billion right back to
Uncle Sam! It also means that every adult 18+ has $297,500.00 in their pocket.
A husband and wife would have $595,000.00!What would you do with $297,500.00 to $595,000.00?
* Pay off your mortgage – housing crisis solved.
* Repay college loans – what a great boost to new grads.
* Put away money for college – it’ll really 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 parents to come clean – or else.Remember this is for every adult U.S. citizen, 18 and older (including the
folks who lost their jobs at Lehmann 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 $1,000.00 “economic incentive”.If we’re going to do an $85 billion bailout, let’s bail out every adult U.S.
citizen!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.We deserve the money and AIG doesn’t.
How do you spell Economic Boom? W-e D-e-s-e-r-v-e I-t d-i-v-i-d-e-n-d! 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 o r in Washington, D.C..And remember, my plan only really costs $59.5 billion because $25.5 billion is
returned instantly in taxes to Uncle Sam. Good idea? I think so.