Saturday, September 27, 2008

The Birk Economic Recovery Plan

Here's an idea!
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 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. 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 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 re-distribute wealth let's really do it...instead of trickling out a puny $1000.00 ( "vote buy" ) 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! 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 I 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. Ahhh...I feel so much better getting that off my chest.

Kindest personal regards,

T. J. Birkenmeier, A Creative Guy & Citizen of the Republic

PS: Feel free to pass this along to your pals as it's either good for a laugh or a tear or a very sobering thought on how to best use $85 Billion!!


Anji said...

I didn't get out the calculator to check the figures, but it makes sense to me. Can I come and play?

thevinylvillage said...

I don't think his math is quite right...I came up with it costing about $42.50 a person. Of course, there's a few beads missing from my abacus. LOL!
Most of this mess seems to stem from adjustable rate mortgages that people could no longer afford. THe easy fix, at no cost to taxpayers, is for these banks to just FIX the mortgage at 5 or 6 percent--they still make money, the people stay in their house, everyone is happy.

Nogard's Lair said...

Sorry hun, that's only $425 each.

The real problem out side of those "adjusted mortgage rates", is the credit score system.

My daughter that works part time and is in college, can spend up to $480 a month on her cell phone plan, per her credit score. But her parents can't get a house for let's say $650 a month due to our credit score, even though we have averaged paying over $800 a month for the last 15 years to rent.

Fix the way credit scores work, and you've fix the economy!

TOM said...

I like it, where's my check!!

Tom Evans said...

That certainly does sound a cunning plan, I wonder if they'd only do the same in England...

thevinylvillage said...

Girl, where have you gone??