Fact Check

We Deserve It Dividend

E-mail proposes a 'We Deserve It Dividend' for U.S. taxpayers.

Published Sep 25, 2008


Claim:   E-mail proposes a "We Deserve
It Dividend" for U.S. taxpayers.

Example:   [Collected via e-mail, September 2008]

Hi Pals,

I¹m against the $85,000,000,000.00 bailout plan.

Instead, I'm in favor of giving $85,000,000,000 to America, in a We Deserve It Dividend. (WDID)

To make the math simple, let¹s assume there are around 200,000,000 Bonafide U.S. Citizens over the age of 18yo.

Our population is more like 301,000,000 +/- counting every man, woman and child. So 200,000,000 might be a fair stab at adults 18 and up..

So lets take the 200 million adults and divide that into $85 billon, that would equal $425,000.00.

My plan would be to give $425,000.00 to everyone of the 200 million adults as a we deserve it dividend (WDID)

To be fair and ensure we do our duty we would of course, pay taxes on the money. I wonder if the banks and other institutions are going to have to pay taxes on the 85 billion when they get it?

So let's assume a tax rate of 30%. Every individual getting money would then pay $127,500.00 in taxes.

That would send $25,500,000,000 right back to Uncle Sam. Sounds pretty fair so far doesn't it?

So every adult citizen over the age of 18 would get $297,500.00 in their pocket. A husband and wife would have $595,000.00.

What could you do with your $297,500.00 up to $595,000.00?????

One would be to pay off your mortgage * housing crisis solved. Ultimately the banking institutions would end up with the money solving their legidity issues and we the american public would own our home free and clear or at least make a significant dent in the mortgage.

Repay college loans * what a great boost to new grads and again money back into the hands of the lending institutions, and we the college student would no longer be obligated and could therefore have more cash flow when we enter the workforce. Thus bolstering the econemy even more.

Put away money for college * it¹ll 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 parent¹s medical insurance * health care improves

Enable Deadbeat Dads to come clean * or else

Remember this is for every adult U S Citizen over the age of 18 including the folks sho 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 we¹re going to re-distribute wealth let¹s 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 we¹re going to do an $85 billion bailout, let¹s bail out every adult U S Citizen over the age of 18!!!!!!!!

As for AIG and the other banks and lending institutions let them be bailed out by us the consumers and not by government...... a government by the people for the people.

They could each sell off their 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.

Here¹s my rationale. We deserve it and the banks, lending institutions and corporations dont deserve this bail out. Who bails out the familys of those who are laid off or cannot aford the increasing mortgage payments? We the american public are left to figure it out on our own, no one is there to bail us out or carry us financially, need i say more?.

Sure it¹s a crazy idea that can "never work." Or could it? If our politicians had enough vision to see it's value. But can you imagine the Coast-To-Coast Block Party! People actually living in a home thats paid for, jobs being created as an individuals available cash flow increases.. Sounds like the american dream......i just wonder if those in power both in business or politics dream anymore!!!

So how do you spell Economic Boom?

Because I dream and because I trust my fellow adult Americans to know how to use the $85 Billion in the We Deserve It Dividend (WDID) 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
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 it¹s either good for a laugh or a tear or a very sobering thought on how to best use $85 Billion!!

Origins:   There isn't much to vet about this tongue-in-cheek piece regarding a U.S. government business bailout deal other than to note that the numbers are egregiously wrong. The government's proposed $85 billion bailout of American International Group (AIG) works out (based on a population figure of 200 million adults) to a total of only $425 per person, not $425,000 per person as claimed above.

Even the government's larger proposal for a $700 billion bank bailout plan comes to only $3,500 per person. A nice chunk of change, to be sure, but hardly enough to allow the average citizen to pay off a mortgage, and buy a car, and repay college loans, and buy insurance, etc.

Last updated:   27 September 2008

David Mikkelson founded the site now known as snopes.com back in 1994.

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