I got an email the other day that struck me as the most logical thing I'd heard in weeks of financial meltdown. Per the email, the government should NOT bail out the financial giants, but instead take that 700 billion and divide it proportionately among every American citizen age 18 and older and let the financial idiots crash and burn. The beauty of this email plan is that each person who received this percentage (approximately half a million per citizen) would pay taxes on the amount the received which would return a portion of the money to the government. Then these fine folks would pay off their homes, there by making money available to mortgage companies to give out new loans and solve the housing crisis. People would also use the money to pay off credit card debt, vehicle loans, etc and put some of it into the stock market, CD's, etc. This sounds like a pretty good plan to me -- at least better than bailing out the financial folks and allowing them to side step responsibility and accountability for what they helped to happen. Of course, the plan involving giving money to the general public involves the belief that each person would in fact pay off their mortgage, cars, credit cards and invest some of it rather than stuffing it under a mattress and waiting for the world to crash around them. But I like to believe enough people would do the above things that it would make a huge difference in the current financial situation. But, of course, this plan is not even under discussion in Washington so I, along with every other person in this country will wait to see what's going to happen to my future.
Causes Renee Russell Supports
St. Jude Childrens Hospital, LeBonheur Children's Hospital, Darryl Worley Foundation