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I's concentrate on housing and banks. If I knew that contracts had to be honored then I would tell the american people not stick some provison in the stimulus bill like Dodd did.I would want every memberr of congress to read every bill and have full debates ;not give them a thousand pages at midnite and vote at 9:00 am the next morning. If it contained pork like this one does ;I'd refuse to sign and tell them to go back and fix it. If i didn't know what other in my administrtion did then I'd fire them.
Six month income and payroll tax holiday for ALL taxpayers.
Millions of free thinking individuals working in their own financial best interests will make far more informed and effective decisions than a few self-proclaimed know-it-all's in Washintion DC ever could.
If you were President, What would you do to stimulate this economy?
Alot of Americans cry about how the stimulus is a bad idea, but what would you do?
Go back to the real New Deal and really concentrate hard on physical infrastructure. Build new roads, new tunnels where needed, build new bridges, build new schools, and build tons and tons of light rail. While we're at it lots of the country is experiencing water shortages so new reservoirs would also be a good idea.
Building infrastructure is the single best stimulus known to economists because you not only employ people but you also spur demand for people at factories building steel, concrete, heavy equipment (18 wheelers, back hoes, etc) and you create greater economic efficiencies long term as people and goods can move around more easily. The first stimulus bill was loaded up with to many Republican tax cuts for the rich and not enough real infrastructure; we need to fix that.
There used to be a program, I don't know if it's still around, but if a community suffered a natural disaster like an earthquake or tornado or hurricane, then the feds set up bond money for the banks so that people could borrow money to rebuild or repair their homes and lives. Like a natural disaster, the mortgage crisis has had a devastating impact on communities. So for the stimulus package, I think the first tier should have been in making available, nationwide, this kind of bond money. Banks that wanted it could request it from the feds. The money comes with strings. It has to be used up within a certain time period (the bank can't just hold it as an asset), and has to be used for mortgages. I would also have adjusted guidelines, so that people in over their heads could have gotten 40 year mortgages. Higher interest, less equity growth, but a more stable housing market with a lot less foreclosures. The second tier, I would have pushed through big tax credits for people making their homes/businesses/lives less dependent on traditional energy sources. Adding solar panels, adding wind turbines, adding passive heating, adding insulation, and the government will encourage those investments by helping you pay for them. Third tier, tax cuts on the middle class. I don't care what the GOP says, rich people don't start businesses, middle class people do. The biggest corporations we have today were started by people who were middle-class working people. Fourth tier, national competitions for science, math, and invention. With substantial prizes. We need people to start bringing out their creativity, and we need to give them the time, money and resources to make it worth their while. Fifth tier, investment in infrastructure. Next order of business, cap the credit rates. I'm all for credit companies making money, but 28.9% interest is usury. Credit card companies have gone crazy, they need to be reined in. Australia this week passed laws modifying golden parachutes. We need to do that, too. Executive salaries, golden parachutes, bonuses of millions of dollars underscore the disconnect between corporate America and real America. Capitalism and free enterprise are great, but even in capitalist America we've always recognized that unfettered capitalism does not provide equal opportunity, but that instead money attracts money. The laws that we've passed against monopolies are all about preventing capital from becoming too concentrated in one person's or one group's hands. Excessive salaries and bonuses are really a way for money to become concentrated into one small group's hands. Are they the elite because they are so talented, or are they the elite because money attracts money?
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What he said!
