Working Class Economic Stimulus Plan

Here's an idea my friend CJ Williams came up with. It's really the most reasonable economic stimulus package I've seen. If you agree, share it with your senators and representatives, the president, your family and friends, and anybody else you think should read this.

Working Class Economic Stimulus Plan

It is obvious that the American economy needs a stimulus plan. It is also unfortunately obvious that the plans put into effect within the last year, the taxpayer rebate and the financial system bailout, have not been effective.

The American economic system, the one that has served this country and the world so well throughout history, is in dire straits. Without serious and immediate relief the American economy may, to paraphrase Abraham Lincoln, perish from this earth.

What is needed is genuine economic stimulus, a plan that touches every working American.

Our stimulus package is simple. What we propose is to find the median income over the last ten years of every tax paying worker, cut that number in half and place that amount in the hands of the people who have earned this money so they can go out and stimulate the economy.

How would this help? Imagine every working American has a half year of their income, to spend or save as they please. The money could be used to spend on needed goods and services, to pay off debt, to place in savings and checking accounts. This would give every American the opportunity to pay down their mortgage and help offset some of the loss in value their home has seen and give them the much needed ability to re-finance the balance of their mortgage to make things more manageable. This would in effect still get the money back into the banks which would reduce the debt write offs on possible foreclosures and open credit back up for the common American which will stimulate spending again. If money is used to buy Big Macs or big SUV’s, it helps the economy. If money is placed in big banks or small savings and loans, it is money that is put back into the system that can then be used to help others. However the money is used, it will have a positive effect at every level of the economy, local, state, national and even international.

You think it’s expensive for Uncle Sam to spend this kind of money? Yes, absolutely. It was also expensive to send out rebate checks in amounts too small to make a difference. It was also expensive to bail out Wall Street without placing any restrictions on how, or if, the money would be spent, and again, it made no difference. The economy only got worse.

We live in a land where the government is “of the people, by the people and for the people.” Rather than have a big, bloated legislative bill that gives money to some industries and not others and is full of pork, let’s have a bill that will help every sector of the economy and every American.

Place the money of the people back in the hands of the people and you will see the economic rebirth this country needs.