It happens that the first down payment on the war reparations bill is exactly that. 500 million dollars.
If the US is feeling munificent, they may sell the gold to themselves and return to the Iraqui central bank, the 500 million in tanking US dollars, min.0us the 40% brokerage fee.
Some people might think that is dishonest, but not really. If one calculates that it probably came from a secret slush fund of the ruling party from their control of oil marketing, then it is really difficult to calculate who should benefit from it and how much. Let's try.
If they make up a fictional, publicly owned oil company, they would have to calculate the actual oil land lease cost, the taxes at wellhead, gas tax, average oil field profit, and subsequent normal tax rate. After allowing for US style stock dilution by options, and excessive executive compensation they would distribute the remaining 10% as dividends to the fictional Iraqui stockholders, after collecting from them the appropriate amount for share capital. This is at ten times earnings, So the average Iraqui owes them:
<font color=red>
Gross Income 500M
Well Head tax (90M)
Refinery tax (25M)
Pump tax (100M)
Options cost (100M)
Executive fees (30M)
Lease fees (25M)
Net Income 130M
Corporate tax (65M)
Net after Tax 65M
Dividend @10% (6.5M)
Stock Value @10 times earnings = 650M
No of Iraqui shareholders = 20M
Dividend declared by company = 6.5/20 = ($0.325)
Capital owed by Iraqui shareholder per share pre dividend (650/20) = $32.50
Owed by average by Iraqui shareholder after dividend $32.50 - $0.325 = $32.175 US</font>
Upon payment, shareholders may anticipate more dividends if any more trucks are intercepted anywhere in Iraq.
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