If the banks got a bailout when they were on the brink then the American People should have gotten one as well (from the banks.) The Government should have had the banks give them lists of all the people who owe them credit card debt, along with the amounts due, and wrote out checks to them all.
The Federal Checks should have been made out to the banks in the name of the debtor- that way Wall Street would have gotten their 'much needed bailout' and the American People would have gotten one as well. The fact that this did not occur is the reason why the economy has not picked up.
So to all you brain boys in George- know this: You can pump all the money you want into the greedy hyper-capitalists on Wall Street but so long as us average Americans are still in debt, broke and unemployed- this economy is going no-where. Because being broke, in debt, and unemployed do not inspire people to invest money and or start making purchases (which is how economies speed up and grow.)
Wednesday, January 27, 2010
Tuesday, January 26, 2010
Reverse Engineer The Jobs: How to fix unemployment in America
Okay let's say that we have 306 million people living in the United States. Let's also assume that the unemployment rate is 10% and we want to reduce it by half. This being the case, we will need to create 15.3 million jobs which would be awarded according to how long a person has been on unemployment (with those on unemployment the longest being put at the head of the line.)
The Federal Government, in cooperation with local unemployment offices, will contact the businesses that laid off each of the awardees chosen for this program. The Government will request that the employer rehire these awardee(s)- with the understanding that the Federal Government will be footing the bill (the cost of their wages.) Each awardee will be paid 50k per year for 3 years- the total cost being $765 billion.
***NOTE***(If the awardees former employer went belly up or moved, the Government will simply allow the awardee to apply with any business locally- with the same agreement previously mentioned.)
During that time (3 years), the employers will enjoy a period of decreased cost of labor and increased revenues. The formerly unemployed awardee will enjoy a period of job security- in addition to the wages they are receiving. These two factors, working together, will inspire Americans to start spending again (which is one of the main ways we as a country will dig ourselves out of the slump we are in) and increase the general level of economic activity throughout the nation, as well.
Final Thought:
It would be a colossal blunder in my opinion to do anything other than this, especially something involving giving money directly to employers (hell the Wall Street bailout has shown us all that no good can come of that.)
So their you have it..the 'Populace' (sic) solution to unemployment. A solution, I might add, borne of a true desire to see Americans helped (instead of some lame-ass attempt to fix the unemployment problem done only as a stunt so one could claim they are doing something about it but in reality end up creating not one damn job.)
The Federal Government, in cooperation with local unemployment offices, will contact the businesses that laid off each of the awardees chosen for this program. The Government will request that the employer rehire these awardee(s)- with the understanding that the Federal Government will be footing the bill (the cost of their wages.) Each awardee will be paid 50k per year for 3 years- the total cost being $765 billion.
***NOTE***(If the awardees former employer went belly up or moved, the Government will simply allow the awardee to apply with any business locally- with the same agreement previously mentioned.)
During that time (3 years), the employers will enjoy a period of decreased cost of labor and increased revenues. The formerly unemployed awardee will enjoy a period of job security- in addition to the wages they are receiving. These two factors, working together, will inspire Americans to start spending again (which is one of the main ways we as a country will dig ourselves out of the slump we are in) and increase the general level of economic activity throughout the nation, as well.
Final Thought:
It would be a colossal blunder in my opinion to do anything other than this, especially something involving giving money directly to employers (hell the Wall Street bailout has shown us all that no good can come of that.)
So their you have it..the 'Populace' (sic) solution to unemployment. A solution, I might add, borne of a true desire to see Americans helped (instead of some lame-ass attempt to fix the unemployment problem done only as a stunt so one could claim they are doing something about it but in reality end up creating not one damn job.)
Thursday, January 7, 2010
National Savings Accounts: A Bailout for the American People
PROBLEM: MAINSTREET HAS YET TO SEE ANY BENEFIT FROM THE CORPORATE BAILOUT OF WALLSTREET AND, AS A RESULT, THE ECONOMY REMAINS LETHARGIC.
SOLUTION:Enter the Forced Individual Income Savings Tax Accounts (FIIST’S):Give each Middle-Class Household $30,000 ($10K+$10K+$10K.)
METHOD: A CREDIT CARD THAT ACTS LIKE A HYBRID BETWEEN A CREDIT-LINE FROM A BANK AND A SECURE CREDIT CARD, BUT WITH ONE MAJOR ADDITION, ITS’ FUNDS ARE REPLENISHED THREE WAYS: THROUGH A TAX ON AN INDIVIDUAL TAXPAYERS (WEEKLY/BI-WEEKLY OR MONTHLY) WAGES, THROUGH REPAYMENT ON WITHDRAWLS MADE BY TAXPAYERS, WITH AN ADDITIONAL 5 PERCENT ADDED IN WITH THE RE-PAYMENT, TAKEN FROM WAGES AUTOMATICALLY OVER A YEARS TIME TO HELP ENSURE REPAYMENT.
THE FIRST $10K
$10k dedicated to a special interest bearing savings account, one that taxpayers can use like a credit-line, but they have a limit (say 10%) on the amount they can borrow from it at one time and or on any one thing, before a repayment must-Have a ‘Forced Individual Income Savings Tax’ income tax that supplies and replenishes an individuals account, as taxpayers earn income while working. The ‘Forced Individual Income Savings Tax’(FIIST) is extracted each pay period through the year, to avoid an additional lump-sum tax at the end of the year. Additionally, ‘FIIST’ funds can be used for necessities like food, Mortgage/Rent payments or for the purchase of a ‘real asset’ (and never for liabilities) which is anything legal that will produce income for the taxpayer (e.g. a patent right, higher education costs [i.e. books and tuition], the materials needed for the start-up of a legitimate business enterprise [a business plan must be presented during audits] equity producing home improvements [receipts for all work done must be presented during audits] *note: The purchase of a home, in and of itself, does not constitute an asset for these purposes, unless it is being used as rental property, in which case , a taxpayer could use a portion of their ‘FIIST’ account toward the purchase of property. To help prevent catastrophic loss of the entire ‘FIIST’ account balance, certain controls were put into place. One of them is, the ’EGGBASKET’ measure, which prevents all the ‘FIIST’ funds from being spent in one place or at one time. The ‘FIIST’ accounts are overseen by an automated computer system, designed after already existing banking technology that detects any discrepancies or violations of ‘FIIST’ account regulations. Once alerted by the system ‘FIIST’ Auditors make contact with the taxpayer whose account has been called into question and adjudicate the claim made by the system.
THE SECOND $10K: ECONOMIC GROWTH AND JOB CREATION
These funds are dedicated to creating a business that hires at least two employees, one of whom was not the businesses creator or they can be used to pay for educational costs (e.g. student loans and or tuition.)
THE THIRD $10K: TRICKLE-UP ECONOMICS
These funds are left completely to the taxpayers’ discretion. They are funds taxpayers can invest, save and or spend however they like. These funds should not be controlled in anyway.
BENEFITS:
Banks will have money to invest and lend while hold the Federally Insured ‘FIIST’ funds. The Middle Class will have a much needed backup, for lean times. These funds will also spur on new growth of the economy, through renewed investment, innovation and a rekindling of the entrepreneurial spirit, which are what made our country great.
SOLUTION:Enter the Forced Individual Income Savings Tax Accounts (FIIST’S):Give each Middle-Class Household $30,000 ($10K+$10K+$10K.)
METHOD: A CREDIT CARD THAT ACTS LIKE A HYBRID BETWEEN A CREDIT-LINE FROM A BANK AND A SECURE CREDIT CARD, BUT WITH ONE MAJOR ADDITION, ITS’ FUNDS ARE REPLENISHED THREE WAYS: THROUGH A TAX ON AN INDIVIDUAL TAXPAYERS (WEEKLY/BI-WEEKLY OR MONTHLY) WAGES, THROUGH REPAYMENT ON WITHDRAWLS MADE BY TAXPAYERS, WITH AN ADDITIONAL 5 PERCENT ADDED IN WITH THE RE-PAYMENT, TAKEN FROM WAGES AUTOMATICALLY OVER A YEARS TIME TO HELP ENSURE REPAYMENT.
THE FIRST $10K
$10k dedicated to a special interest bearing savings account, one that taxpayers can use like a credit-line, but they have a limit (say 10%) on the amount they can borrow from it at one time and or on any one thing, before a repayment must-Have a ‘Forced Individual Income Savings Tax’ income tax that supplies and replenishes an individuals account, as taxpayers earn income while working. The ‘Forced Individual Income Savings Tax’(FIIST) is extracted each pay period through the year, to avoid an additional lump-sum tax at the end of the year. Additionally, ‘FIIST’ funds can be used for necessities like food, Mortgage/Rent payments or for the purchase of a ‘real asset’ (and never for liabilities) which is anything legal that will produce income for the taxpayer (e.g. a patent right, higher education costs [i.e. books and tuition], the materials needed for the start-up of a legitimate business enterprise [a business plan must be presented during audits] equity producing home improvements [receipts for all work done must be presented during audits] *note: The purchase of a home, in and of itself, does not constitute an asset for these purposes, unless it is being used as rental property, in which case , a taxpayer could use a portion of their ‘FIIST’ account toward the purchase of property. To help prevent catastrophic loss of the entire ‘FIIST’ account balance, certain controls were put into place. One of them is, the ’EGGBASKET’ measure, which prevents all the ‘FIIST’ funds from being spent in one place or at one time. The ‘FIIST’ accounts are overseen by an automated computer system, designed after already existing banking technology that detects any discrepancies or violations of ‘FIIST’ account regulations. Once alerted by the system ‘FIIST’ Auditors make contact with the taxpayer whose account has been called into question and adjudicate the claim made by the system.
THE SECOND $10K: ECONOMIC GROWTH AND JOB CREATION
These funds are dedicated to creating a business that hires at least two employees, one of whom was not the businesses creator or they can be used to pay for educational costs (e.g. student loans and or tuition.)
THE THIRD $10K: TRICKLE-UP ECONOMICS
These funds are left completely to the taxpayers’ discretion. They are funds taxpayers can invest, save and or spend however they like. These funds should not be controlled in anyway.
BENEFITS:
Banks will have money to invest and lend while hold the Federally Insured ‘FIIST’ funds. The Middle Class will have a much needed backup, for lean times. These funds will also spur on new growth of the economy, through renewed investment, innovation and a rekindling of the entrepreneurial spirit, which are what made our country great.
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