Wednesday, December 24, 2008

Suggestions for additions to the President-Elect’s Economic Stimulus plan

I'm not an expert on economics and I don't claim or pretend to be. That being said I have come up with a few things that I think would help the economy and that should be implemented by the President-Elect when he takes office. I believe, from what I have read, heard, and what I know that could greatly help although the effects would take time to be visible.

1) Executive Orders that would be retro active (once signed they are immediately applicable)
a) Require ALL lending institutions to allow anyone with an adjustable rate mortgage to refinance to a 1.5-2% fixed rate mortgage. Fee free
b) Require that all management yearly salaries in any company that has received government assistance be capped at a maximum of $300,000. With all bonuses, perks, corporate jets, corporate cars, etc banned and immediately discontinued. All overseen by either the IRS or similar agency.
c) All credit card companies restricted to a maximum chargeable interest rate of 10% on ALL credit cards.
d) Interest rates on all personal loans, student loans, and home equity loans dropped to a maximum of 3%
2) Congress immediately passes legislation that gives tax breaks/incentives to companies who operate entirely within the U.S. Meaning that a company would greatly benefit by moving its manufacturing, headquarters, etc back to the U.S.

1 comment:

  1. Forgiveness of credit card debt would be a good move as well. Student loan forgiveness another. Same with some forms of taxes and tax evasion. The people most screwed by this "recession" (read: a return to sanity) are those impoverished lot hunkered under all three. Like me.

    I've featured your blog on mine.

    Have a great Xmas!

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