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People's Bailout: Give each person $25,000

 
People suggest options
User ID: 368888
United States
01/24/2009 06:04 PM
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People's Bailout: Give each person $25,000
Several people offer suggestions on what should be in the bailout.

[link to money.cnn.com]


Instead of handing the money over to six-figure-salary executives who use it for lavish company retreats, Obama should give each head of household $25,000 to $35,000 so we can bail ourselves out.

If the money were given to the people, they could pay down mortgages or pay off car loans, and that would in turn go to the bank. That would ease people's income loss while also putting the money back into the economy.

I don't know what Obama's full plan is, but it sounds like every other politician. You say all this stuff to get into office, and once you're in, you backpedal. They need to look at the little people, and in my mind, that's not people making $250,000 per year.

Call it a stimulus, call it the people's bailout, call it whatever you want. Just figure out a way for people to keep their houses. Think about the little guys. Even though we have the buying power, we're the ones suffering the most."
Anonymous Coward
User ID: 600003
United States
01/24/2009 06:05 PM
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Re: People's Bailout: Give each person $25,000
if everyone is given 25,000 dollars then a loaf of bread will be 50 dollars.
Anonymous Coward
User ID: 599493
Australia
01/24/2009 06:06 PM
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Re: People's Bailout: Give each person $25,000
OK we can do that. But we'll have to raise taxes by $25,000 each. Is that all right with you?
Anonymous Coward (OP)
User ID: 368888
United States
01/24/2009 06:09 PM
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Re: People's Bailout: Give each person $25,000
Here is another one. Let us withdraw without penalty from our 401K's if needed.

[link to money.cnn.com]

I have a lot of debt from my family's medical bills, and I want to take money from my retirement account to pay off my debts. But there's a 10% penalty if you withdraw your money before age 59-1/2.

I want President-elect Obama to take away the penalty that happens when you take out money you've saved in retirement accounts. With the way that the economy is, it'd be easier to let us go get it without all the restrictions. Why should there be those roadblocks? It's red tape over red tape.
canislatrans

User ID: 516342
United States
01/24/2009 06:15 PM
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Re: People's Bailout: Give each person $25,000
Will never happen. People at the top are too greedy.
And those who were seen dancing were thought to be insane by those who could not hear the music.
Anonymous Coward (OP)
User ID: 368888
United States
01/24/2009 06:16 PM
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Re: People's Bailout: Give each person $25,000
OK we can do that. But we'll have to raise taxes by $25,000 each. Is that all right with you?
 Quoting: Anonymous Coward 599493



The $850 billion bailout on top of the bailouts we have already made and the future bailouts after that will all have to be paid in higher taxes.

The bailouts being created out of thin air or with borrowed money is kind of like the people who bought houses on teaser rates. They knew they could afford the starting loan payment, but didn't calculate the cost of what it would be when the loan went up.

That is what Bush did and what Obama is doing. They are working with loans that will slap us in the face down the road.

They don't care, because it is down the road. Same with the peopele who bought with teaser rate mortgage loans.
Anonymous Coward
User ID: 520854
United States
01/24/2009 06:19 PM
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Re: People's Bailout: Give each person $25,000
Will never happen. People at the top are too greedy.
 Quoting: canislatrans


very true
DanG
User ID: 585146
United States
01/24/2009 06:21 PM
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Re: People's Bailout: Give each person $25,000
giving it to THE PEOPLE
is what SHOULD have been done in the first place
and the only thing that will work.
Anonymous Coward
User ID: 600167
Puerto Rico
01/24/2009 06:27 PM
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Re: People's Bailout: Give each person $25,000
Better yet, every one that has a mortgage should of been brought up to date and had it paid 3 years into the future.

This would of done 2 things; stopped all foreclosures and allowed owners some breathing room, and still would of put money in the banks instead of just giving them the money and foreclosures continuing, no new loans, etc.
Anonymous Coward
User ID: 534332
United States
01/24/2009 06:37 PM
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Re: People's Bailout: Give each person $25,000
OBAMA TOLD US TO TAKE RESPONSIBILITY HAHA SO LETS TAKE IT PEOPLE, GO DOWN TO STEPS OF CONGRESS AND SAY HELLO.
Anonymous Coward
User ID: 599736
United States
01/24/2009 06:40 PM
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Re: People's Bailout: Give each person $25,000
If you give money to poor people they will spend it which is what the powers that be want right? More people to spend money?
Anonymous Coward
User ID: 599493
Australia
01/24/2009 06:43 PM
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Re: People's Bailout: Give each person $25,000
Better yet, every one that has a mortgage should of been brought up to date and had it paid 3 years into the future.

This would of done 2 things; stopped all foreclosures and allowed owners some breathing room, and still would of put money in the banks instead of just giving them the money and foreclosures continuing, no new loans, etc.
 Quoting: Anonymous Coward 600167


What about the people without mortgages? Screw them, they can pay for those other people's mortgages.

You're suggesting a big slot machine payout for everybody with a mortgage, paid for by people without mortgages, presumably.

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