A "We Deserve It Dividend" from the Government

[JJSZABO]

My fellow Truck enthusiests:

I am against the 85 Billion dollar bailout of AIG.

Instead, I am in favor of giving 85 billion to america in a "We Deserve It Dividend".

To make the math simple, let's assume there are 200, 000, 000(million) bonofide U.S. Citizens 18 and older.

Our population is about 301,000,000 +/- counting every man, women and child.  So, 200,000,000 should be a fair assesment at adults 18 and older...

So divide 200 million adults into 85 billion and that equals 425,000 thousand dollars.

My plan is to give each and every american 18 and over 425,000 dollars as a We Deserve It Dividend.

Of course, it would not be tax free.  So, lets assume a tax rate of 30%.  Each American receiving a dividend would pay the government 127,500 dollars in taxes.  That sends the 25,500,000,000 right back to Uncle Sam.

But it means that every adult 18+ has 297,500 in their pockets.  A husband and wife has 595,000.00.

What would you do with 297,000 to 595,000 in your family?

Pay off your mortgage - housing crises solved.
Repay college tuition - Great boost to the grads
Save for college for young children - help the banks
Just save in a bank - banks have new funds to loan back out, again helps financial sector
invest in the market - Capitol drives growth
Buy an new vehicle - creats new jobs
pay for your parents medical insurance - health care improve


Remember this is for every US Citizen 18+ including the folks who lost their jobs a Lehman Brothers and every other Company that is cutting back.  And of course, for those serving in our armend services.

If we are going to redistribute wealth, let's really do it......instead of trickling out a punny 1000.00 (vote buying) economic incentive that is being proposed by one of our Presidential candidates (can you say ex community orginizer)

If we are going to do an 85 billion dollar bailout, let's bail out every adult citizen 18+

As for AIG:
Sell it off in 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 is my rational. We just plain deserve it and AIG doesn't!!

Sure it's a crazy idea that can "never work", but imagine the coast to coast block party

Can you spell ECONOMIC BOOM?

I trust you guys and gals to know how to use the 85 billion.

We deserve the dividend more than AIG or Washington!

And remember, this plan only costs 59.5 billion because 25 billion is returned instantly in taxes to Uncle Sam.

What do you think?  Time to storm Washington?  Call our do nothing Congressman?

[bmaier]

i second that. sounds like a great plan to me. makes sense. if only it would work though....

[Lt.Del]

the trouble with the 85 billions is that it doesnt exist.  The feds didn't budget for that.
When was the last time the gov't operated on a balanced budget?  Escpecially during a war and giving out "stimulus" checks to everyone?

The money is borrowed.  My child and his children will be paying for that. I say lets bite the bullet now.  Let the economy go south for a time. It will even be worse later down the road when it all goes south.

We are creating many problems for the next generations.  Let's draw the line. 

Those CEO's who approved these interest only mortgages and stuff knowing the people didn't qualify for them just be held accountable.  Liquidate their multimillion dollar estates--the trouble they created is going to cost generations of citizens problems.

[Lt.Del]

Wow, the latest from Reuters.....The largest ever bank failure in the U.S. just announced.  WaMu, my mortgage owner, is history.
 
http://news.yahoo.com/s/nm/20080926/ts_nm/us_washingtonmutual_jpmorgan_news

Washington Mutual ran into trouble after it got caught up in the booming part of the mortgage business that made loans to people with bad credit, known as subprime borrowers.

Troubles spread to other parts of WaMu's home loan portfolio, namely its "option" adjustable-rate mortgage loans. Option ARM loans offer very low introductory payments and let borrowers defer some interest payments until later years. The bank stopped originating those loans in June.

http://news.yahoo.com/s/ap/20080926/ap_on_bi_ge/washington_mutual_future;_ylt=Aqg9k8GBimT_GIieyouAA5Zg.3QA


Three banks have gobbled up all the others.  Bank of America will be the largest now after buying Merill Lynch.  JP Morgan wil be runner up after buying Washington Mutual and Bear Stearns, and Citigroup, who was first, will be the third largest.
There were thoughts that if JP morgan didnt jump in to buy WaMu, FDIC insurance would have been depleted, which, would bring on another panic of 1929, when people couldn't get their money out of the banks because it was all gone.  FDIC came about because of this.   

Folks, this is scary stuff.

[Dragon]

the trouble with the 85 billions is that it doesnt exist.  The feds didn't budget for that.
When was the last time the gov't operated on a balanced budget?  Escpecially during a war and giving out "stimulus" checks to everyone?

The money is borrowed.  My child and his children will be paying for that. I say lets bite the bullet now.  Let the economy go south for a time. It will even be worse later down the road when it all goes south.

The Idea for coming up with the 85 billion, was to just print more money to cover the cost, and it would be covered by at least the next 2-3 Generations...

Being 32 and seeing the way the Country has acted since I was a teen, till currently, I personally won't hold my breath when it comes time for Social Security to kick in..   Just have my doubts that Social Security, let alone Medicare will still be around for my Generation ....

[Lt.Del]

The Idea for coming up with the 85 billion, was to just print more money to cover the cost,

So the value of the US dollar will be worth even less.  It is already at record lows against the Yen and Euro.  I remember in Mexico when I could get 13 peso for $1.  Now, it will take $13 to get one peso.

I personally won't hold my breath when it comes time for Social Security to kick in..   Just have my doubts that Social Security, let alone Medicare will still be around for my Generation ....

Remember, SSI is Social Security Insurance.  It is not a 401k or other retirement fund, and never was meant for such.  If you go blind tomorrow, that is what SSI is for.  So many people have gotten this mixed up with SSI being a tax to be there when I retire.  Nope.  That's why the age is going up.  If you are 32 now, you won't see a SSI check until you are about 77, the age keeps going up and it should.   Most will be dead, and that is the idea.   However, again, if you become a paraplegic tomorrow, you'll get a check--that's the real purpose of SSI.

All these people saying "let me take that tax off my deductions and I will invest it myself in my own 401k". Sounds nice, but less than 1% will do that and then if you become disabled, well.....where's the money?

[Dragon]

The Idea for coming up with the 85 billion, was to just print more money to cover the cost,

So the value of the US dollar will be worth even less.  It is already at record lows against the Yen and Euro.  I remember in Mexico when I could get 13 peso for $1.  Now, it will take $13 to get one peso.

Yep don't understand the Logic when it comes to some of thinking over paying off a Debt....  So far it seems to be 3 Presidents(In my Lifetime, unless Regan or Ford did as well ) that have come up with the same idea   GB Sr. said it during his Term, Clinton followed with a different way of asking, and GW apparently made a blatant statement, when asked for his solution of the current situation...

I guess that will solve the dilemma about ditching the Heavy & Cumbersome coins, in favor of an all paper currency, that has been a debate for the last 20+ Yrs

[Dragon]

The Idea for coming up with the 85 billion, was to just print more money to cover the cost,

So the value of the US dollar will be worth even less.  It is already at record lows against the Yen and Euro.  I remember in Mexico when I could get 13 peso for $1.  Now, it will take $13 to get one peso.

I personally won't hold my breath when it comes time for Social Security to kick in..   Just have my doubts that Social Security, let alone Medicare will still be around for my Generation ....

Remember, SSI is Social Security Insurance.  It is not a 401k or other retirement fund, and never was meant for such.  If you go blind tomorrow, that is what SSI is for.  So many people have gotten this mixed up with SSI being a tax to be there when I retire.  Nope.  That's why the age is going up.  If you are 32 now, you won't see a SSI check until you are about 77, the age keeps going up and it should.   Most will be dead, and that is the idea.   However, again, if you become a paraplegic tomorrow, you'll get a check--that's the real purpose of SSI.

All these people saying "let me take that tax off my deductions and I will invest it myself in my own 401k". Sounds nice, but less than 1% will do that and then if you become disabled, well.....where's the money?

Yep I understand the whole point behind SSI(Coverage incase of an Injury, Originally intended to be used to cover medical costs, and etc during said time) just meaning I don't see that being available when it comes time for my Generation to retire....   Even though the money was paid into it for my retirement, it can easily be diverted for other circumstances deemed fit, and not necessarily back to said individuals who have funded it...

Where I grew up, the Majority of my neighbors were either taking advantage of the Welfare System, or Milking SSI to it's fullest, even though they were Late 20's- Early 50's.....  Some were disabled, but most just wanted a Handout, without having to live on the streets...  Heck from the time I was a 5 on up through High School, it was a common sight to see the Families on Welfare or SSI, driving brand new Porsche's,Jag's,Mercede's,Audi's, and etc.....   The kids of those Families when I was in High School, even drove nicer cars than the Kids with Rich Doctors, and Lawyers for parents (Those ones usually drove the parents hand me down, Volvo's & Saab's, with a few getting a Land Rover, or Old Range Rover)....

[blast]

That would be $425 per adult....... not $425,000.

85,000,000,000 / 200,000,000 = 425

[fishead]

$425.  That's a bit different.

Here in Canada, we are pretty paranoid that our market is going to follow yours.  I think we are lucky because we didn't start offering cheap mortgages until a couple years ago.  I think our best was 40 years, nothing down.  That's how I got in, but they only offered it for a couple years. 

Also, our interest is not tax deductible as I believe yours is.  One of my uncles in Washington is of the mindset that the bigger his mortgage, the less income tax he has to pay.  The result is that any time he has any equity, he re-finances and retires for a couple months.  Doesn't seem like a very good long term plan. 

Best of luck to ya with the upcoming election.  I think you guys are in the same boat as us though with having to choose between Tweedle Dee and Tweedle Dum.

[Lt.Del]

having to choose between Tweedle Dee and Tweedle Dum.

Yeah, but I like to say it is between Tweedle Dee and Tweedle STUPID

[zieg85]

having to choose between Tweedle Dee and Tweedle Dum.

Yeah, but I like to say it is between Tweedle Dee and Tweedle STUPID

LMBFAO

[JJSZABO]

That would be $425 per adult....... not $425,000.

85,000,000,000 / 200,000,000 = 425

 

After 24 hours, I wanted to see how many would find the mistake.

I saw this on the internet and found the same mistake

[DnStClr]

 Sgt.Del, don't panic. Your mortgage will be in good hands- no, better hands with Chase Bank. You guys who are invested- Hang in there. Don't go selling unless you're invested in those banks that went under! The quickest way to lose money is to start selling your assets. The market will rebound. Just be conservative for now. If you guys have a 401K don't rush to move money around right now unless you buy some good blue chip growth stocks or mutual funds.     

[JJSZABO]

Sgt.Del, don't panic. Your mortgage will be in good hands- no, better hands with Chase Bank. You guys who are invested- Hang in there. Don't go selling unless you're invested in those banks that went under! The quickest way to lose money is to start selling your assets. The market will rebound. Just be conservative for now. If you guys have a 401K don't rush to move money around right now unless you buy some good blue chip growth stocks or mutual funds.     

Very good point!!  I see it as a very cheap sale on stocks right now - a "blue light special".  Can't wait for the market to rebound - cha'ching!!