- Posted September 24, 2008 by
Franklin, New York
This iReport is part of an assignment:
Don't Bailout the Companies, Bail out the People
I saw an e-mail passed around explaining that we should take the money being given to one of these companies and just give it to the public.
I then got thinking, instead of bailing these companies out, bail out the people! How much of this country could live well on their incomes if their debts were paid off?
Pay off those debts, the companies holding them will have all sorts of cash to use to keep functioning and the economy can move forward again.
You want to spend 700Billion? Just spend 1 Trillion, divide it up between the 200+ Million Legal US Citizens, run a credit check on each, pay off those debts and give the remainder of that share to the citizens to invest in their own future.
Everyone keeps thinking keep the top alive and the bottom will thrive.. the old trickle down economics crap. Lets try shoring the base of the economic pyramid, the people up and see how the economy thrives.
Will some companies fail b/c of this? Sure, but new ones would arise to take their place.
*edited for type-o in dollar values