We’ve heard what type of "stimulus" the political parties want, now how about US? The American PEOPLE want a stimulus which:
Stops the loss of jobs and the collapse of businesses AS SOON AS POSSIBLE!
Does NOT authorize bureaucrats or politicians to pick winners and losers.
Provides the broadest possible stimulus, allowing EVERYONE to participate.
Spends BORROWED money only on existing, unquestionably justified expenditures.
Draws us TOGETHER to build the solution, NOT divide us, NOT dictate to us.
Most of all: we don’t want to see "fat cats" get fatter on this stimulus, and we don’t want the needy to have to beg for help in front of politicians or bureaucrats. We’ve seen far too much of this “slavery” thing already!
So how do we achieve all this? Is it even possible? You judge. Here is my proposal:
1. Give every working person a year long holiday from his/her FICA taxes, immediately in the next paycheck and subsequent paychecks for a full year.
This lifts take home pay by 7.5% for every worker or by 15% for every independent contractor (earning under $100,000 per year, capped at $7500 or $15,000 if earning over the $100,000 FICA cap.) Allow the "employer share" of the FICA tax to be kept by the employer rather than sent to the government, instantly reducing labor costs to businesses by 7.5%.
This will keep most businesses solvent, their employees working and enable some businesses to rehire laid-off employees. Consumers will have an additional 7.5% to spend or invest. That will quickly change the psychology choking the economy, offering hope, confidence and opportunity to all workers in the nation!
This will insert a TRILLION in stimulus directly and immediately to everyone in every business in the country and not require any checks be written, any bureaucrats to decide who deserves it and avoids any political payoffs to "winners" or punishments to "losers" or expense to administer.
2. Take the TRILLION congress plans to borrow and spend on stimulus, and instead SPEND it on a year’s worth of Social Security benefits and Medicare payments. NO ONE could possibly complain about THIS expenditure!
No winners or losers chosen by politicians, just the payment of benefits to recipients already selected via mechanisms already established and in place for years. No new POLITICALLY MOTIVATED spending, just totally equal treatment for all.
3. Spend the "bully pulpit" time on TV and radio that would otherwise be used to argue / justify the existing stimulus proposals to INSTEAD educate the people about the importance of helping your fellow citizens with the "stimulus bonus", making sure each family realizes the bonus is temporary and that it is important to use wisely.
This gives us all, every pressure group, church and charity, the opportunity to encourage us to work together to help each other!
What a CHANGE THAT would be! The PEOPLE would be helping each other, NOT allowing politicians to inflate their image by spending OUR money to bribe us to praise THEM!
4. Raise usage taxes (e.g. gas tax) to properly fund on-going infrastructure repair / improvement expenses, and unemployment insurance to cover the laid-off workers not yet rehired.
Our roads, bridges, government buildings, schools, etc. have ALWAYS been funded out of regular budgets. If these costs have not been properly budgeted in recent years, then FIX IT once and for all. DO NOT make some people rich "winners" by expending "stimulus" funding on projects that could not have justified proper funding without the push of a crisis. The incremental increase in usage taxes (e.g. gas taxes, road use taxes, etc.) would be well less than the 7.5% "stimulus bonus" each worker will receive.
These four steps cost no more than the proposed stimulus package but MAY actually return HOPE, CONFIDENCE, and OPPORTUNITY to EVERYONE, and do it QUICKLY. We won’t need so much more unemployment insurance money IF WE KEEP PEOPLE WORKING! We won’t need to "invest" borrowed money in new technologies, GREEN or otherwise, because millions of workers and thousands of businesses can make those investment decisions VIA THE MARKET, not via political influence.
Bring us together on a solution that provides no opportunity for FRAUD, no opportunity for CORRUPTION, and gives each worker an opportunity to decide for his/her family how to best to invest their "stimulus bonus" on keeping the economy rolling!
If you like this plan better than what either the REPUBLICANS or DEMOCRATS are proposing, send this idea to your representatives in congress and DEMAND they consider it!