The Hoover Plan?
————– Update —————
The math is wrong…every citizen gets $425 not $425000 - that would require 85 trillion dollars. Sorry for the bad post, though I still like the overall intent of the idea - let the people that messed up, pay up be it on wall st or main st. Both are guilty this time. Taking a loan for more then you know you can afford or offering a loan to someone that you know can not pay are equally irresponsible.
————– Update —————
This came in over the email transom and I thought it was worth pass along for the readers of this blog to think on. It is called the Hoover Plan and it is a outsiders plan to solve the current financial problems with US markets. It will NEVER get proposed or discussed in Washington, but some of the root ideas and concepts contained in it are interesting to ponder - i.e. stimulate the economy by stimulating taxpayers at real levels.
The plan follows -
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Good afternoon my fellow Americans,
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 th at 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 elseRemember this is for every adult U S Citize n 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 BillionWe Deserve It Dividend more than I do the geniuses at AIG or in Washington DC
And remember, The Hoover 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,
Thomas J. Hoover — A Creative Guy & Citizen of the Republic
