Best idea for a stimulus I have heard
http://soapbox411.blogspot.com/
Opinion:
With all the talk of how to spend almost $800 billion of the taxpayers money, who to give it too, how to give it too them, what industries to give it to or focus on, etc., etc., I haven't heard one idea that makes as much sense, or is truly fair among any of the ideas our supposed leaders have made that is as good as this:
Take the magic number, this morning it was around 770 billion, and divide it among all tax paying adults and cut them a check, somewhere around $50,000 per adult. There. Done. End of story. I say cut out the top 1 or 2 percent of said adults also. Not only do they not need the money, most of the managers who caused this problem are in this group to begin with. So take that. This would also increase the number the rest of us get.
Now, let's look at this seemingly ludicrous idea: Giving the money to the already ailing financial sector seems to be giving the guy at the blackjack table who just lost all his money more money. Giving the money to the auto industry is just subsidizing an already subsidized (albeit indirectly)industry. If US auto makers had been making fuel efficient cars the last couple of years would have been huge profit makers. Right now, in Europe, there are over 10 cars that all get 50+ miles per gallon. But not of those cars is sold here. What's wrong with this picture? We can thank both the auto industry and government for this. The list goes on. If the government focus' on one industry than any and all other industries can and will cry foul.
So, what would happen if Joe average citizen got a check for $50,000+? Well let's see. Some would pay off their debts, credit card, student loans, mortgages, etc.. This would not only relieve struggling tax payers monthly debt load but free up monies for other things. Either way, the lending institutions would now have money to lend because there customers have paid off their debts thus, indirectly, getting bailed out. Even if the whole check gets put into a CD, it has the same benefit.
However, not all citizens would pay off their debts. Maybe they would go on vacation. Or make some home improvements, or buy a new car. Regardless, ALL of these options would provide a boost to these respected industries and as result, improve the economy. In fact, no matter how we look at this scenario, it is win-win. Heck, even if masses amount of our fellow citizens went on benders and spent their money on the proverbial wine/woman/and song, it would help the economy AND the people who are picking up the tab for this bailout plan would actually be benefiting from it. This is a FAR site better than any of the solutions currently being talked about on "the HILL" whose plans seem to bailout companies who have either gambled away their companies money or lined there own pockets or not made a product that people want to buy in the first place, (or all of the above) in short have been reckless and irresponsible managers. And, here comes John Q. Taxpayer to the rescue with NO say on who gets the money.
Well, as one of the people picking up the tab, I say this is the best, most effective, and equal plan there is. After all, shouldn't the people paying for it get something out of it?
BB
posted by Big Ben @ 11:49 AM
2 comments
