[ubuntu] Restrict outgoing traffic per IP to max 50KB/sec

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http://ubuntuforums.org – Do anyone have a recommended program that will help me restrict outgoing traffic on my Ubuntu Server to 50KB/sec per IP? I have found alternatives, but they seem to only work on etc HTTP (port 80) and so on(I think Squid only work with HTTP), I want a program that restricts all forms of outgoing traffic on all ports to max 50KB/sec per IP. Please explain how I shall do this, and etc recommend what programs I need. I am pretty noob at linux but this would be extremely useful as I have 70/10Mbps network and want to avoid wasting my upload speed on regular DoS noobs. :P That way, at least o (Hardware)