Instead of bailing out all of these large companies with trillions of dollars, I believe I have a more do-able answer. Why not give $100,000 to each head of household in America.
Also, give $200,000 to each small business owner. If you look at it, it is cheaper than the bailout of the larger companies with the results of putting the American people back on track, personally and business wise.
This would be with the understanding that all welfare recipients, unemployment and medical would STOP for six months. Reapplication with time limits and restrictions after six months. All income taxes must still be filed for the next three years and no refunds to anyone. This is more do-able than the bailouts! Every household would be responsible for paying all medical, food and living expenses with no outside help whatsoever.
Clear all credit, small and large, with the credit bureaus. Delete all credit history for everyone. Let everyone start out fresh with a 700 credit score. The American people will have to control their money and there will be no help for six months. This will give the American people a new lease on life and put their confidence back in our government.
During this six months, it will give the welfare department a chance to reorganize and delete all files, also eliminate the need to store the files. Our congressmen would also have six months to come up with a good health plan for the American people and set regulations for banks and mortgage companies.
Doing the math on just the unemployment and welfare departments, what would the revenue be just from this during the six months reorganization period? Put a freeze on all prices, such as food, gas, cars, housing and medical, etc.
I believe more people would go out and buy cars, housing, etc. and it would create a better economy with more jobs created for our future. I’m sure this jump start the economy and be do-able in less than a weeks time. My real concern is for the American people. I think this is do-able worldwide.
American facts: The average American earns $12,000 to $25,000. a year. This makes Joe the Plumber with his $45,000 look like good earnings to these people. You put a man in charge of all money and he beat us out of $37,000. in income taxes. There are at least four channels on TV broadcasting every day about people on Social Security losing their homes for anywhere from $300. to $1,800. in back taxes. This in return puts a bad taste in people’s mouths towards our government including myself!
We are bailing out AIG for $60 billion again for last quarter. While for the last quarter they are showing a $10 million profit. So why are we again going to bail them out for $60 billion dollars? We can add a list from every major company in the United States showing a profit, but we are still bailing them out. Why? We the American people need help right now, not later. This would treat each and every American person equally.
President Obama, you are right! It’s time for a change! Make no mistake that people like AIG, Citibank, or Citigroup, Ford, Chrysler, Chevy and anyone else we gave bailout money to, have already stuck a knife in your back and in the American people’s backs. They’ve thrown parties, given bonuses and are, as the old expression says, laughing all the way to the bank.’
Frank V. MacNear
Blue Creek Road
Hogansville
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