We Deserve It Dividend Email

An email is making the rounds right now titled "We Deserve It Dividend" that proposes that rather than bailout financial institutions, the money should be divided among all U.S. residents of legal age. It states that if the $85 billion proposed bailout of AIG were divided among approximately 200 million adult Americans, we'd each get $425,000 and could pay off our mortgage, pay off college loans, buy a new car, and so on, crisis solved.

Problem is, the math is wrong.

First of all, according to the U.S. census bureau, the current U.S. population is estimated at 305 million, not 301 million. Check out the Census Bureau's United States Population Clock web page for details.

Secondly, if you divided $85 billion ($85,000,000,000) by 200 million (200,000,000) we would get $425 each, not $425,000.

While I'm sure nobody would turn down the $425, I'm not sure what kind of house one could buy with it! And this wouldn't solve the problem of injecting new money into the financial system so new loans can be made.

Funny how emails can get passed on like that without someone turning on a calculator!