The foundation on which society rests has changed forever.
You do the math. President Bush and others concocted a deal that awarded $900 billion dollars to Wall Street, to hedge fund operators, and to lending institutions because they were “too big to fail.” This was supposed to jump-start the economy again as these mega-companies were going to take our tax dollars, and “trickle down” our money to us in the form of loans and jobs. We are still waiting. At that time there were 5.1 million people receiving unemployment benefits.
You do the math. Give each person on unemployment $50,000 with conditions. You must deposit this sum in one of these identified banks, not in 24 hr-check-cashing spots. No taxes would be paid from this amount, and the family would immediately stop receiving State unemployment benefits. This check would cover one year.
Another condition would be that the check must be negotiated within 30 days or it reverts back to the Treasury Dept. The American worker would have jump-started the economy over night by making “mom and pop” expenditures…cars, house payments, clothes, healthcare, restaurants, dry cleaners, beautyshops, vacations, etc. Many of us would have found jobs with spending up, and we would have been in even better shape. You secure a job, you keep that $50,000 so you can keep going and keep the economy going.
The following year, those same families would receive a check for $35,000 each with the same conditions but taxes would be paid from total annual incomes. In the third year, that same group would receive $15,000 each — with the tax clause included. In total, some 5,100,000 individuals with families that might add up to more than 20,000,000 people would receive $510B over three years which is what should have happened.
A handful of greedy corporate dogs shared $900B of our money but nothing trickled down. Our way would trickle up and over a grateful nation as we would have created conditions of survival and people could see a way to thrive and keep going and growing the country!
The ASSEMBLY TO END POVERTY is calling for a Workers March on Washington, June 30th, 2012. We March on D.C. because we want to eliminate poverty and not the poor. We can and we will do this great thing. Get involved – (313) 964-0618. firstname.lastname@example.org. You have 331 days left.
Image from Zaius Nation, through Creative Commons share.