Friday, November 14, 2008

MY bailout plan

However many weeks ago the government finalized their $700 billion bailout plan and started buying out banks and whatever else.. I have not spent a lot of time looking into the details of the plan but I heard it didn’t work as planned and yet they are talking about another $700 billion bailout for auto companies. It’s truly astounding. According to the U.S Census Bureau, there are over 305 million people in the U.S. I did a little math and if you round up and say there are 310 million people in the U.S and you split $700 billion between them everyone gets just over $2200. That’s for EVERYONE including children, whose money would go to their parents. Now obviously there are people in this country who don’t need financial help, like celebrities and anyone who has “millionaire” status and any one of their children. So what should the income limit be? Too many people are living beyond their means and have the kind of lifestyle where the more money they make the more it takes for them to live comfortably; so there are probably plenty of people who don’t really need financial help but would say they do because they haven’t yet learned how to be financially responsible. If I had to make an uneducated guess I would say that a good cut-off would be $200,000. Any one making over $200,000 should be excluded from any share. I don’t know how many people (and their dependent children) that would take away from the equation but it would definitely make well over $2200 available for everyone else.
I am not an economist so I don’t “know” that this would solve any problems, but it would be as much worth a try as any other $700 billion plan. Because people are going to spend that money. And if they spend it on their debt it will be a big step in helping out the failing banks. And if they spend it on their bills and food it will be a step toward boosting the economy. And if they spend it on anything, it is money going back to our economy. So why is the government focused on helping businesses instead of the struggling people? And in the end who is going to pay for the bank bailout or the auto bailout? Taxpayers. So why shouldn’t they catch a big break in the process?
MY plan would help homeowners, it would help people on financial aid just as much as those who are not, it would help all the people affected by job losses or pay cuts, raised gas prices (because how long are these low prices going to last? Lol), and benefit anyone with children as well as people without.. It would help the taxpayers and the people who make up this country. And helping the people who make up this country should be the government’s priority if they’re bailing someone out regardless.

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