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!
Dear Mr. President:
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.
You can call it 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-
Auto Industry fixed.
3) They MUST either buy a house or pay off their mortgage -
Housing Crisis fixed.
It can't get any easier than that!
If more money is needed, have all members of Congress and their
constituents pay their taxes...
Comments (3)
That would be the ticket. Add stop outsourcing to other countries and have better oversite of companies.
Certainly creative; maybe even possible. OTOH, what happens the next time we get in this mess?
Very interesting. Inovative! I qualify. Where do I sign up?
Along this line, it was my opinion that any tarp money that the banks get should have given through the hands of a specific American to help them avoid bankrupcy. Example: A person behind on mortgage but still employed could apply for mortgage relief. Funds granted would be paid against their mortgage and bring them current. The banks would get a boost of capital but the homeowner would also have a second chance. With this they would also receive financial counseling. Similar thing with flood victims. Yes, a percentage would go back into a forclosure but the money would have a much better chance of stimulating the banks and economy for a longer period and would be distributed in a much slower manner. Obviously this is rough but just a baseline.