Good Morning fellow owners of Wall Street!
That's right. It appears the $700 billion bail-out package is going to streamline through the government today.
Somebody much smarter than me forwarded an e-mail that broke down what really should be done with all this money (this breakdown when the talk was just the $85 billion for AIG):
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.
The 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 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.
If we're going to do an $85 billion bailout, let's bail out every adult U S Citizen 18+!
So there you have it. I actually sent a version of this to U.S. Rep. Joe Sestak (D-7 of Edgmont) as well as Senators Arlen Specter and Bob Casey. Of course, none of them even took the time to answer my e-mail.
I forget, is this an election year or not?
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