I have a plan that should please all the common folks in our country and that would be us. Let’s take that $700 billion figure. Let’s give everyone in our country - everyone - no exceptions, a piece of the rock. Give it to them after taxes. Let’s keep 75 percent of their portion for taxes. You know, saving more bureaucratic red tape and all. That would give every person in the United States $2,336,000 and a family of four would receive $9,344,000 after taxes. Now, that’s figuring we have 300 million people in the United States. The numbers might be off a little, but it’s the concept that is the important thing here anyway. My little pocket calculator almost went into meltdown mode trying to work out the financial details of this stimulus package as it was. I suppose Congress is setting new standards for the amount of good scotch and bourbon that are consumed in their work to establish the guidelines for their bail out of Wall Street.
You talk about an economic stimulation. Wow! Most people would pay off their home first, or so you would think anyway, and then the sky’s the limit. They would buy everything they could think of that they think they needed. The economy would sizzle it would be so hot with activity. Some people would lose it all overnight. Others would invest their windfall and be super rich later on. Others would take it all in stride and sit back and enjoy their life.
Some of the Wall Street losers would probably band together and create new, hopefully better, corporations that undoubtedly would thrive in the newly stimulated economy. Lawyers would get their piece of the rock as well.
Prisoners would not be able to get to their money until they were released from jail. Their family could, so they could survive, but the prisoner themselves couldn’t access the money. The prisoner’s money would earn interest, at least, while they did their time paying their debt to society.
Some people would start new businesses that would be very successful. This stimulus would probably for a while at least, zero out the credit card deficits of the world. Of course, there would be those who would run their credit card balance right back up there again. We humans tend to be creatures of habit that way.
After this new economic stimulus package is underway and approved, Congress should mount a full-scale investigation into how this mess was allowed to happen and in the course of their investigation, should they find any wrong-doing, they should bring charges and prosecute each and every person involved in Wall Street’s problem.
Meanwhile, you all enjoy your newfound wealth. Remember where you heard it first and don’t forget to write your congressman. Encourage them to pass this package as an alternative to the other one. May good fortune follow you all the days of your life.
Larry Wilson is a 50-year resident of Sparks and a retired elementary school teacher. You can contact him at email@example.com.