I found this article on another blog (by LeDuc) and I thought it made sense so I thought I would share it with you.
It's cold, wet and snowy here in the Pacific Northwest. I can't go anywhere or do anything so I thought I'd tackle this bailout thing.
Currently literally billions of dollars are going to financial institutions, apparently no questions asked. These institutions are using the money to do such things as pay dividends, offer their top management big salaries, bonuses and gilded golden parachutes. For the life of me, I can't figure out what these funds are doing now--today--to benefit the taxpayers providing those funds (I'm not too sure how that works either but will save my questions for another time).
And here come the automakers. Just a few billion for a short term is all they need to keep building cars. So I've got problems with this too. First, where are the cars being made. I've heard that a lot of them are made in Canada and Mexico and put together here. Second, who is going to buy the damn things. Haven't the boys at the top of the auto industry heard that there is a recession going on? People are losing their jobs. Those that are keeping their jobs can't get credit because the banks aren't granting credit. They aren't even granting credit to each other.
OK, so if I'm wrong, someone please educate me. If I'm not wrong, read MY plan. Read my plan even if I'm wrong, its pretty cool. Here's how it will work.
Let's bailout the people at the bottom; the taxpayer.
I've read somewhere that it will cost every taxpayer over $2,000 for the current bailout (some say more, a lot more). So, instead of giving it to the people that got us in this mess (they should be given jail time, in my humble opinion) let's give each taxpayer $1,000. There are, according to my googling efforts, about 135 million taxpayers. Giving each one a grand will provide a short term stimulus to the economy.
But wait, there's more.
Remember the bailout will cost each taxpayer over $2000. We've given each taxpayer a grand in fun money so what do we do with the extra grand per taxpayer?
We have a national lottery where every thousandth taxpayer gets a million bucks, federal tax free. But the million dollar winners must each pay off their mortgage (if they have one), their credit cards (if they have debt) and buy a brand new AMERICAN-MADE (made in America, not Canada, Mexico, Korea, Japan, Europe yada yada yada). Paying off mortgages and credit cards will put money back into the system, buying new cars will do the same. That means that out of 135 million taxpayers, 135,000 of them will get a million bucks. That a lot of mortgages paid, credit card debt eliminated and shiny new cars on the road with the cost of the cars keeping us grunts working and spending.
So what do you think? If you like the idea, copy this and spread the word to your friends and relatives and especially to those who can make this happen (congress). If you don't like it,well, thanks for reading and drive safe.