How to fix the economy.

[Spooled-up]

There was a guy on Fox News yesterday talking about bailing out every American. $100,000 per taxpayer. I can think of multiple reasons that this would fix the economy.



Lots of debt would be paid off.

The housing market would improve.

Lots of cash would be injected into the economy.

Consumer confidence would reach an all-time high.



If we keep bailing out companies that are mis-managed, I think we're just throwing our money down the drain. This would be giving me back about 3 years worth of my tax money, and would cost the government about 1 trillion, which is where we're heading now with the bailouts anyway.



When I see that the government is going to bail out the automakers, I have mixed emotions. I feel for the many thousands that would lose their jobs if the bailout didn't occur. However, I'm a union employee in the airline industry and we weren't bailed out. We took a trip through bankruptcy and our pay was cut twice and our retirement was eliminated - all because the airlines haven't found a way to charge enough for a ticket to make money.



I didn't mean this as a political thread, but as an economic one.

 

[JCasper]

I think that's a great idea



Heck if I were to get $100,000 I would pay off a lot of debt and even buy a few things.



Everyone out buying things will definitely help out. As of now I am buying nothing but essentials.

 

[dpuckett]

It has long been known and proven countless times that money in the hands of the citizens does the most good for the economy. I wouldnt mind "my share" of the $7T or so they are doling out to mismanaged companies. If I whiz away my money, I dont get bailed out, why should the BIG3?. The auto workers would find other jobs, or do like the airline workers- get their wages cut and retirement eliminated. Kind of like the retirement I pay into at gunopint, yet wont get the benefit of (Social Security).



Heck, I wouldnt mind what my fat lazy neighbors get from the govt- something like $7K per month because they are too fat to work. Funny thing is, when I work hard, I lose weight, and am better suited to work more. Hmmm. might have something there.

 

[kowaliga]

Why not a Federal tax holliday? Mighty easy to implement and all workers get ALL their earnings from their own paychecks and not from a Treasury check ( stimulus ). Think how many with mortgage problems could be quickly helped, not to mention the 'extra' spending we'd all do.

 

[kenny61]

The problem with that is that it would add an additional 500k debt(just my wild guess) to each working person because they would have to payy off the 100k for all the non workers

 

[PVanderlugt]

The problem with that is that it would add an additional 500k debt(just my wild guess) to each working person because they would have to payy off the 100k for all the non workers

right on,wish more people would see that

 

[Dieselnut59]

I like the proposed idea of a tax holiday. Get 100% of your paycheck with no taxes with held. This way, it ONLY goes to people who are actually WORKING. It would encourage people to work harder and they would finally see just how much is being taken from their paychecks before they even see them. It would also open the door for the FairTax idea (national retail sales tax) which would allow you to take home 100% of your paycheck and only pay taxes when you spend money at the retail level. Americans For Fair Taxation: Americans for Fair Taxation

Unfortunately, politicians like to use the current tax system to pander to certain groups of voters, especially those who do not currently pay income taxes.

If they are going to give a "stimulus check", it needs to only go to people who actually PAY taxes, otherwise it is nothing but another handout.

 

[JCasper]

The problem with that is that it would add an additional 500k debt(just my wild guess) to each working person because they would have to payy off the 100k for all the non workers

Don't give it to every citizen, just tax payers

 

[kowaliga]

I have yet to receive a 'stimulus' check because ( said the IRS ) my gross wages disqualify such. The Government continues to withhold my earnings to give to another more qualified to receive them. The Boston teaparty was the response to a 2% tax. Wonder what the Revolutionaries would have thought about 28%?

 

[Dieselnut59]

I have yet to receive a 'stimulus' check because ( said the IRS ) my gross wages disqualify such. The Government continues to withhold my earnings to give to another more qualified to receive them. The Boston teaparty was the response to a 2% tax. Wonder what the Revolutionaries would have thought about 28%?

It looks like it is going to take a revolt to get something done. More and more taxes are with-held from worker's paychecks going to fund more and more government programs and handouts. It is disgusting.

 

[kenny61]

Don't give it to every citizen, just tax payers

Would never happen someone would claim its not fair and what do they say only 20% of us pay taxes. We are simply outnumbered

 

[Dieselnut59]

Yep, kind of like the thing "PEBHO" (president elect barack hussein obama) said about giving a "tax cut" to 95% of Americans... 40+ percent of Americans do not pay taxes, so he is planning to raise the taxes on the top 5% and give everyone else a "tax cut"? How the hell can you "cut" what is not there?