We are reading and hearing how the banks, the car manufactures and credit card companies need financial help. Maybe the reason for them requesting financial aid from the government is due to the fact that Main Street has no money, and without money who is going to buy. Why do we not have money??? Maybe because many jobs were shipped overseas or the banks have taken advantage by giving out loans to people who could not afford the higher interest rates, or the credit card companies increasing their interest rates, or the increase in cost of gas & utlities, thus keeping main street from being able to jump start the ecomony???? So you think handing money to the banks, & car manufactures is going to help Main Street. They are just lining their pockets like they have been doing. Where is the money to help the merchants, small businesses, & charities that are going under???
I put forth two ideas to solve this situation:
Folks, to jump start the ecomony we have to buy. We can not buy because we need to pay our mortgages of which all the low interest rates in the world are not going to help when the banks will only lend the money to people whose mortgages are not upside down. The one's who need the help are the people whose mortgages are upside down. Therefore, very few people can take advantage of the lower interest rates. Second, to borrow money, a self employed person, must show that their income will support the new mortgage---- although they are now barley paying their high mortgage rate. If they can pay barely pay a high rate, guess what they could pay a much lower rate and still have money left over for purchasing power. By reducing all the mortgages to 4.5%, think of how much money that would free up to start the ecomony and the number of foreclosures it would stop.
Another idea was passed on to me to jump start the ecomony which is to give every taxpayer a million dollars. Yes, a million dollars!!! The money is to be used to pay off mortgages, or purchase a new home,and to purchase a GM car, to pay off credit debit, and to create businesses. Banks will have money to loan, the car companies can keep manufacturing (however, they still need to re organize create a better business plan) and the small merchant can stay in business or start new companies to employee many Americans. The money in the hands of the consumer will jump start the ecomony, it will be less than what the government is throwing at the above. If people do not use the money to jump start the ecomony, then they must pay taxes on it. The only difference is the wealthy won't get a lump sum of money to use at their discreation. Let the American public spend the money to recover the financial ecomony of this country and the world.
It is time that we the American Public, the Main Street raise our voices. This is our money they are giving to the banks, to the car manufactors, to the failing business. It is the banks that caused our housing prices to deflate due to their greed. It is time for us to say enough is enough.
Francie
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