OK, I read an email which suggested an alternative way to fix our economy, so I have been rolling this over in my head for a week or so and I can’t see any reason why it wouldn’t work. Stick with me, here.
So… instead of spending $100 Billion on another corporate bail-out (as a previous presidential candidate pointed out, every farmer in America knows you have to put the fertilizer in the soil to get initial plant growth, you don’t throw it randomly at the tallest branches), here’s the suggestion in it’s most basic form: we have a huge number of persons over the age of 55 who know they can’t retire in 10 years, and a huge number of people past retirement age still working because they can’t live on what little social security there is, and we all know there won’t even be THAT pretty soon. SO we take 100,000 of these people, like maybe 2,000 in each state, and we pay them each a million dollars (half in credits and cash up front and half in $500/week income vouchers for the next 20 years). There are some requirements for this disbursement:
1) They HAVE to retire and stay out of the workforce (100,000 jobs created)
2) They HAVE to pay off a mortgage OR buy a house, free and clear (housing crisis solved)
3) They HAVE to buy an American-made car, no financing, (auto industry crisis solved)
4) 10% goes back the Fed, 10% goes to whatever state they live in (tax boost to states)
5) They HAVE to invest 10% in 10-year CDs, or Treasury Bonds, and 10% in 20-year
6) Since they’re retired they will pump money into the economy traveling and spending
7) With a home paid for and a car paid for and $500 a week for expenses… and then in ten years they get the benefits from the first round of CD’s ($100K plus interest, which they can re-invest at their discretion); and the second set of notes maturing in 20 years, I can’t see any way it wouldn’t significantly add to economic stability. These funds would be transferable, TOD to a spouse but NOT as part of the estate to progeny and can NOT be gifted to family members. Income requirements at time of screening would exclude anyone who has income more than $50k a year (single) or $75k a year (married) income from applying, or savings/investments exceeding $150,000 from applying.
Now, I know it’s not a perfect plan and I’m sure the government can figure out a hundred ways to make it impossibly complicated and expensive to administer, but it seems we’d still get a better return on our investment than when they give billions of our tax dollars to huge corporations who bonus their highest paid employees and NOTHING makes it down to the people who need it. I’m just sayin’……………………………………………………………….
(And as a side note, if there’s any doubt in your mind about how many Americans are struggling in deeeeeeeeep debt and feeling hopeless, visit :