Alternative to the $700 Billion Bailout Proposal

To:  Congress

Like many other Americans I am currently being negatively affected by the rapid drop in the value of stocks. As many other Americans, my only source of security for the future is in the money I pay into my 401K, IRA's, coupled with the hope that the value of my home will appreciate in value over time. Obviously, none of these things have been going well as of late. The only reason I can support the $700 BILLION bailout is in hopes that it will save the value of our stock market and stop the bleeding of equity from our homes by preventing further foreclosures and layoffs due to tightening of lending for businesses, homeowners, and individuals.

However; there is an alternative:

As opposed to pumping $700 BILLION in relief....You could take $85 Billion (12.1\% of the amount originally proposed in the bill) and distribute this money to all LEGAL Americans 18 years of age and older. With a 30\% tax assumption, the federal government would recoup $25.5 Billion immediately (now we are down to 8.6\% of the original cost of the proposed $700 Billion bill). This would leave approximately (estimating 200,000,000 over 18) $297,500 for each individual over 18 in the United States or $595,000 for a couple. Guidelines can be placed on what the funds can be used for (i.e. home purchases, pay off debt, buy vehicles that meet certain fuel efficiency requirements and that are made on U.S. soil & by U.S. workers. Any money not spent on approved products is left on the individuals issued "card" (similar to a flex-spending card issued by employers that have the flex spending accounts).

If done correctly this would:

1. Payoff mortgages keeping people in their homes and averting lower home values
2. Allow money for students that dream of attending college but are unable to
3. Create money for entrepreneurs to start businesses and create U.S. jobs
4. Pay for needed medical insurance
5. Enable deadbeat parents to be paid in full (avoid jail which saves tax payer dollars)
6. Leave in bank on "card" for retirement funds that can be drawn against after the age of 65 for any reason

I wanted to share this idea… at first it sounded crazy, but the more I read it, I realized it had more sanity than giving $700 BILLION of the tax payer’s dollars in "HOPE" that things will "CHANGE" on Wall Street & in Corporate America.

Also, feel free to write me in for President of the United States in November. We can make appropriate adjustments to this plan when I take office as your next President.

Sincerely,

Matt Schneid

Sincerely,

The Undersigned

The Alternative to the $700 Billion Bailout Proposal Petition to Congress was created by and written by Matt Schneid (susanandmatt@insightbb.com).  This petition is hosted here at www.PetitionOnline.com as a public service. There is no endorsement of this petition, express or implied, by Artifice, Inc. or our sponsors. For technical support please use our simple Petition Help form.