WEDID (We Deserve It Dividend) -- The BEST Economic Plan EVER!
*As heard on The Bobby Rich Morning MIX, 94.9MIXfm, Tucson
Forget about the $700 billion bailout.
Instead, I'm in favor of giving the same amount they gave A.I.G. $85 billion 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 billon 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 do another bailout, let's bail out every adult U S Citizen 18+!
Sure it's a crazy idea that can "never work."
But can you imagine the Coast-To-Coast Block Party!
Pretty funny, but they mistakenly calculate $425,000 instead of $425.
85 billion divided by 200 million (or 85,000 million divided by 200 million) is $425.
The principle idea of the plan is also mistaken. The money has to come from somewhere (higher taxes on households or government selling bonds to households), which offsets the money "given" back to them. If they print the money, it just becomes inflation and prices rise to offset the artificial increase in income.