......instead of the Washington boys giving away our money to GM and other big boys.....why not give, let's say, ten thousand dollars. To every American household with the stipulation that the money must be spent on durable American products within a 12 month period, and proof of purchase must be supplied to the IRS at tax time. Any money not spent has to be returned to the IRS along with your tax obligation. I'm sure this sort of plan would cost less, give the people who own the money use of it, and promote American industries that need the input of dollars to keep the economy going.Note: the current $700Bn package would provide $10,000 to 70,000,000 households. (The Census Bureau's Current Population Survey reports about 117,000,000 households in 2007. 70,000,000 is about 60% of 'em.)
If you like the idea, my correspondent had a couple of suggestions:
1. Pass this idea along to all the folks on your email list and see what happens.It's very rewarding - at least on a personal level - to write a letter to your Congressman and your Senators.
2. Send it to Washington too.
Have a nice day.