Tuesday, September 30, 2008

Alternate Bailout Plan

I don't have a degree in anything, and know nothing about a lot of things. Therefore I feel qualified to submit the following alternate plan to congress and the people.

I’m against the $700 Billion bailout of Wall Street. Instead, I’m in favor of giving the $700,000,000,000.00 to America. To make the math simple, let’s assume there are 200,000,000 bona fide U.S. citizens, aged 18 and over. Our population is about 300 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 $700 billion - that equals $3,500,000.00 each!

Of course, it would not be tax free. So, let’s assume a tax rate of 30%. Everyone would pay $1,050,000.00 in taxes. That sends $210 billion right back to Uncle Sam! It also means that every adult 18+ has $2,450,000.00 in their pocket. A husband and wife would have $4,900,000.00!

What would you do with $2,450,000.00 to $4,900,000.00?

Pay off your mortgage... housing crisis solved.
Open five different savings accounts... banking crisis solved.
Buy a couple of new cars to create jobs... unemployment problem solved.
Tell banks to keep their money... liquidity problem solved.
Purchase the best health insurance policy available... healthcare problem solved.
Send your children to the best private schools... education problem solved.

Golly-Gee I'm sure I missed something here!

(My sister sent me this, not sure who the original author is.)

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