Simple Plan To Get Back On Our Feet
With the huge mess that is occurring in financial markets now, it’s not surprising that things are getting way out of control. I wonder if the market players are just overreacting a tad too much about the current news or if they aren’t overreacting enough. It seems like the major news networks are bringing out every talking head they can to talk about the problems and offer lame excuses and even more lame plans to get things moving again.
Me? I think it’s time to inflate our way out of the problem(more on inflation later or elsewhere). Stimulus checks are ok, but let’s make them worthwhile. They are talking about a $500 billion bailout. That’s almost $2,000 for every man, woman and child in the US. Why not come up with a special tax credit? The special tax credit can be used for several things, such as buying a home or making a business investment. Back this up by making a special government loan program whereby people could have access to government money at market interest rates. Allow people to use their credits to help not only buy a home using the government loan program, but also refinance an existing home loan.
I could envision a family of four receiving credits of $8,000 to put up as a down payment on an existing foreclosed home. I could envision a young couple using their combined credit to open up a new business or using it for collateral for a small business loan.
This plan would go a long way to stopping the slowdown in real estate market while at the same time moving loans off the books of existing financial institutes. Best of all, it would be done with minimal government bailouts of stupid corporate behavior. Think about it. Everyone with an existing home loan, or even one in default would get relief.
Comments
4 Comments on Simple Plan To Get Back On Our Feet
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Avee on
Sun, 21st Sep 2008 6:44 pm
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Rico on
Tue, 23rd Sep 2008 9:17 am
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Chris Hutcherson on
Tue, 30th Sep 2008 11:54 am
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privacy service on
Wed, 1st Oct 2008 5:44 am
The problem with your solution is that you have adopted socialistic solutions to solve the financial markets mess that was created by government socialism. Two wrongs don’t make a fix. The solutions to this crisis is a return to a Constitutional Republic principles with a sound monetary policy based or tied to a gold standard and the elimination of the Federal Reserve (Private Corporation) and turn over the printing of money to the Treasury. Second, cut taxes on capital gains and on corporations so people can use that money to pay off debt or invest. Eliminates taxes on saving accounts, money market accounts, checking accounts and other interest bearing products. This would create a climate of saving and investing for all Americans and introduce billions perhaps trillions of dollars from within the USA and from foreign investors as they would have tax free accounts. Then the downsizing and eventual elimination of Social Security and Medicare (it was done in Chile with great results). This would save Americans trillions of dollars and with tax free savings accounts Americans will be able to save vast amounts of money for retirement, medical insurance and leave money to their families in the event of a death. The less government is involved in our daily lives the better off WE THe PEOPLE are as we become wealthy, independent and free. Our present government wants US to be dependent on them more and more which eventually turns into slavery.
“Government is not a solution to our problem, government is the problem.”
-Ronald Reagan
R
Avee, it makes sense what you say, but it will never happen. The Fed gave us a complete fiat money system that they have been using to control us for years, we need to turn it around in their face and use it to our advantage.
The Federal Reserve is what allows the government to create such a huge mess. No one would allow this if they were taking it directly our of our pockets from taxes, but as they take it indirectly from inflation, no one notices. I have found http://www.stopthelie.com/what.....money.html to be a good read about this issue of inflation, debt money, and bailouts.
I accept your point… what about the small investors like me?
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