Tuesday, October 07, 2008

A Crazy "Sure it won't work" Plan

It draws me in, this plan. I could do all kinds of things with that kind of lump sum. It would be as if we all won a small lottery.

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

Click the link. Read more. Let's all dream. Could we make this work?
As for me, for us, I'd pay a good chunk to the mortgage, set some aside for the kids' schooling, and put a bit in a regular old savings account, and buy stocks with the rest. I'd be covering lots of the bases. What about you?


Liz Self said...

What an interesting way to break this down. For someone who feels very peripheral to the economic crisis, this helps me understand exactly what a package this size means.

Steve Buser said...

I'm with you. You have my vote. If everyone spends about $300k the economy will have to blossom.

Reminds me of the student body president candidate at LSU (when I was there) who promised, if elected to take the student body to the Bahamas. He won. But the university kept him from fulfilling his pledge. Bureaucrats.

Trixie said...

Pay off the mortgage. Put a lot away for the future. Not worry so much about the future children in our lives.

Kell said...

I've read about this plan - and all I can think is "It sounds too good to be true..." so I shall continue stuffin' my mattresses with cash - and keep smiling. (sigh)