I just wanted to submit a blog as "food for thought." I know this has crossed almost everyone's mind a few hundred times since the bailout's began. So I'll just throw it out there for comments.
With this billions , upon billions, upon billions of bailout money going to alot of big corporations (which is intended, as always, to help us, the little guy,) what would really help us in this time of bailout?
If the US gov't mailed a check to every taxpayer that filed a tax return in 2007 and 2008 in the sum of $1M, what would you do with it? It really does seem like such a small amount to ask for...
1. If the banks were getting the money to help with bad loans, the consumer would still owe the mortgage, maybe on different terms as before. Who does that help? The bank! But, if that same person in default used their $1M to pay off their mortgage, who does that help? The mortgagee or mortgagor? Both! Unless their CEO won't make $67M in bonuses, BooHoo.
2. If that same person also used their $1M to pay off their CC debts, who does that help?
3. What if that same person decided to use their money to invest...who does that help, the investment companies or the investor?
4.What if that same person could now use their $1M to purchase health care...who does that help? The insurance companies and hospitals (and all the staff that is employed there) or the one that is insured. Both!
5.If that same person wanted to be able to buy food to put on the tables, who does that help? The large chain grocers (and employees) or the shopper? Both!
6. If that same person wanted to use part of their $1M to help care for their elderly parents, who would that help? Medicare and Medicaid programs for indigent patients, or the parents! Both!
7. If that same person wanted to take their family on a vacation for the first time without having to charge it on a card, who would that help? The airlines, hotels, tourism, or the traveler. Everyone!
Seriously, what would you do with your $1M.
I know there would be a lot of pro's and con's to this. There would be people that did not pay their bills and blew the money in Vegas! There will be those that quit their job and probably find themselves in bankruptcy in 5 or so years. There will be those that use the money to buy drugs or to do something illegal. That is happening right now.
On the other hand, there will be those that finally get out of debt and can live on their regular income without worry while being able to save for retirement and send their kids to college. I know that people would be shopping again. Buying new cars and homes. Maybe the families would be able to make a living off one income with one parent staying at home with the kids. Maybe the parents would not work such long hours and be home every night to help their kids with home work. Maybe with less financial stress, there would be more marriages that stayed together. I think there could be alot of positives.
What would you do? Which plan do you think will be a stimulus package that could help the avg. taxpayer?
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