President Obama’s stimulus plan doesn’t seem to be working, so, of course, he wants to throw another 50 billion dollars at it. I’ve got a better idea, he can throw some MY way. Okay, that’s not going to happen, but it did get me to thinking: would it have been better to give money to taxpayers than throwing money at all these banks and corporations?
I’m not talking $600 or $1200, I’m talking taking the approximately 1 trillion dollars (1,000,000,000,000) that’s already been blown and if, instead of sending it to banks and corporations, divided it up between the approximately 138 million taxpayers (2007 figures) tax-free. If my math is correct, that would have been approximately $7246 per taxpayer.
With $7246 per taxpayer, I imagine quite a few mortgages could have been caught up. In my case, since I never got behind on my mortgage, I would have paid off all my credit cards. By reducing my debt load, it would allow more disposable income at my fingers every month, which would help the local economy. Sure, I would save some of it, but most likely I would save up for something I want, instead of putting it back on the credit cards, and purchase it when I had enough saved up… again, helping the local economy.
Sure, some people would just go out and blow it without reducing their debt load, but the couldn’t say we didn’t try to help them. And, it would have been the quick, short-term boost the economy needs.
I know it’s a bit too late now, but I think maybe my plan would have worked.
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