This is from an article in the St. Petersburg Times newspaper on Sunday.
The Business Section asked readers for ideas on: "How Would You Fix the Economy?"
I think this guy nailed it! Please find below my suggestion for fixing America's economy.
Instead of giving billions of dollars to companies that will squander the money on lavish parties and unearned bonuses, use the following plan.
The Patriotic Retirement Plan:
There are about 40 million people over 50 in the work force. Pay them $1 million apiece severance for early retirement with the following stipulations:
1) They MUST retire. Forty million job openings.
Unemployment fixed.
2) They MUST buy a new American CAR. Forty million cars ordered.
2) They MUST buy a new American CAR. Forty million cars ordered.
Auto Industry fixed.
3) They MUST either buy a house or pay off their mortgage.
3) They MUST either buy a house or pay off their mortgage.
Housing Crisis fixed.
It can't get any easier than that!
P.S. If more money is needed, have all members in Congress and their constituents pay their taxes...
While you're at it, make congress retire on Social Security and Medicare. I'll bet both programs would be fixed pronto!
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It can't get any easier than that!
P.S. If more money is needed, have all members in Congress and their constituents pay their taxes...
While you're at it, make congress retire on Social Security and Medicare. I'll bet both programs would be fixed pronto!
Copyright @ 1998-2009
All Rights Reserved
This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.
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1 comments:
I like the idea, but it's early in the morning, and how much is 40-million-million dollars? 40 trillion? Probably a bit too much money creation, even for the Federal Reserve.
Hey, I got here via the "next blog" button with the new "same language, same subject" feature. Pretty cool.
Anyhow, yeah, My thinking is to have the Fed print ONE trillion and divvy it up equally, maybe 10 grand per family or something, and apply the money to paying off people's debt. The money goes into the banks just like before... the Creditors get their money back... the Debtors get some relief... everybody's happy.
Plus, lending (or borrowing) creates money, and paying off a loan destroys that money... So I think if we print money and use it to pay off debt, the money is destroyed and it is not inflationary...
Some argument, huh?
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