Monday, September 29, 2008

Do the Math, People, It's $425

I've received the same forwarded email a half-dozen times in the past week. You know, the one against the $85,000,000,000 AIG bailout with the Subject line reading "Now THIS is a Plan," signed T.J. "Birk" Birkenmeier, A Creative Guy & Citizen of the Republic.

Birk is against the bailout and claims to have done the math on how to distribute $85,000,000,000 (that's $85 billion) to 200,000,000 (200 million) Americans. Birk's plan is to distribute $425,000 per American in a "We Deserve it Dividend," which would actually put us further in debt. Birk claims to have sent the email out as a test to see if others do the math (you can read about that on his blog).

Guess what folks. Many of you aren't doing the math and forwarding this email. Stop it!

Do the math, it works out to $425 per person, not $425,000. Read more on Birk's blog about this little exercise.

Let me ask, will $425 to each American revive the economy? Well, were the stimulus checks successful? I think not. Extra money is nice but we need to look longterm. I don't have a solution to the current financial mess. Owning a home is a privilege, not an entitlement, and it's why I'm not a home owner. I'm so thankful I pulled out of the deal to buy a place in Sarasota four years ago. I put in a deposit for a $149,000 condo. Today, it's on the market for $69,000 (I did get my deposit back).

Giving me $425 to pay half my rent will help me out next month but where will it get me for next month? It may buy some time and that's it. What would $425 buy you?

2 comments:

Anonymous said...

Actually he probably did the math wrong himself and used this as a cover up for that!

JA Huber said...

I think so, too, but wanted to give him the benefit of the doubt.