I believe in Trickle-up Economics

Ken - Gamerco, New Mexico
Entered on December 8, 2008
Age Group: 50 - 65

I believe in Trickle-up Economics

Instead of giving people who make less than $250,000 a year a tax break why not do it this way:

If you make $250,000 – You get – $50,000 to spend as you want.

$249,999 to $125,000 – You get – $75,000 to spend as you want.

$124,999 to $95,000 – You get – $85,000 to spend as you want.

$94,999 to $50,000 – You get – $95,000 to spend as you want.

$49,999 to $30,000 – You get – $100,000 to spend as you want.

Everyone who makes below $30,000 a year gets $125,000 to spend as you want.

This would allow the middle class and below the opportunity to increase their buying and saving power to stabilize and save the U.S. economy from the current “trickle down” economics that doesn’t work and has created this financial mess in the first place.

I believe the objectives of this plan would help our economy in the following ways:

1) I believe it will that people will put money in the banks or other financial institutions thus helping to solve the finacial meltdown.

2) I believe people will buy a new car or truck thus solving the big three auto meltdown (part of this plan is that you have to buy American made cars and trucks – used cars would be exempt).

3) I believe people who are about to lose their homes would be able to make their house payments – thus solving the housing meltdown.

4) I believe Joe the Plumber and other people who want to start their own businesses could do this thus tap into the creativity of all americans who want to become more self-reliant.

5) I believe people could take vacations somewhere – thus helping to solve Delta, United, American and other airlines from going bankrupt.

6) I believe this would help the uninsured buy coverage – thus helping to solve the health care crisis. This would also create a “safety net” until President-elect Obama and Congress figure out a strategy for a comprehensive health care system for all americans.

7) I believe we should put the money in the hands of the people who need relief – unemployed, low income, seniors etc. instead of in the hands of the people who created this mess. Why should they be rewarded for bad behaivior (greed and stupidity) and the average tax payer get stuck with the bill to get them out of this fiasco.

8) I believe this would help the expanding number of unemployed workers and lesson the need for governmental services they will need to survive i.e. unemployment, food stamps, welfare, law enforcement intervention because of domestic violence, bankruptcy, etc.

9) I believe we should reset all home loans to 4% for 40 years.

10) I believe we should impose a 2% tax Nationwide on everything but food, housing and medical to be used to pay down the national debt.

11) I believe we require that all cars meet stringent pollution and gas mileage standards to lesson global warming and our demise.

12) I believe that we require that 10% of the money from this plan goes into individual 401k retirement accounts.

13) I believe that we abolish the IRS and impose a flat 5% tax on all money received at whatever level by all, including corporations.

14) I believe that we let the states handle their own business squeeze the Feds down to little or nothing. Provide money to States for their long term infrastructure projects for roads, schools bridges, etc.

15) I believe that we decriminalize Industrial Hemp and allow farmers to grow it becauce industrial hemp produces a variety of products including – paper, clothing, oil that could be refined into gasoline, plastic and pharmaceuticals.

16) I believe that we cap on all CEO and executive salaries, consulting fees, bonusses and stipends associated with receiving money as a part of this plan.

17) I believe that we set up Employee Stock Ownership Plans (ESOP) for the above listed industries (and others) in finacial free fall. This would allow companies the opportunity to receive investments from the shop floor and give workers within these companies a voice in the decision making responsibilities of these companies and provide workers an equity share to improve their long term viability.

I believe that this whould increase quality and productivity because when workers are included in the decision making process they usually are more motivated and productive.

I believe it is time to put “we the people” back into the equation because this would save our economy from financial meltdown!