The Danny McSquare Economic Plan (please read-not a joke)

So I've given this a lot of thought, and while it isn't without its logistical challenges, I believe I have solved America's financial crisis; actually I can't take credit for it. my mom asked me a couple days ago what if instead of all these bailouts that will cost roughly $1 trillion, the government gave $1 million to every American?

My initial answer was that it would drop the value of the dollar, it might be worthless. That was my first reaction; I'm college educated, taken some economy classes and I feel that I am fairly well read.

But the more I think about it, with proper guidelines and stipulations, the more this plan sounds 100% better than these bailouts for multiple reasons.

Think, CitiGroup, $25 billion; Big 3 Auto, proposed $25 billion; Wall Street firms, $700 billion proposed... approx half of that spent, I believe.

The following is not what my proposal boils down to, but even it we gave $1 million to each U.S. citizen, that’s what? $300 million, little more I'm sure. That's nothing compared to $25 billion here, $25 billion there, $700 billion with no strings attached (like you've pointed out on your show).

Now obviously you could not just give everyone in America $1 million; there would be possible chaos; some people would just buy trucks of cigarettes and alcohol and then we'd really be in trouble. So I came up with some thoughtful and feasible stipulations for the money, and I think this plan could still be effective with much less than $1 million per person.

Probably the most simple outline of who would get this money would be those who under Obama's tax plan would get a tax cut or zero tax increases, Tax payers; working Americans who do not earn 250k per year or more. We could even bring it down to something like 120k per year. And in the same fashion as the last stimulus package, some qualify for x amount of money, while others due to their situation qualify for more than x. For instance, the more dependents a tax payers has, the more they qualify for, especially if they are paying student loans. Also you can't be a dependent and get this money. It would only be for full-time working Americans, majority bread-earners, unless both spouses work and still combined make less than 120k per year. These taxpayers would also have to be in good standing with the law; those serving time would not be eligible; and I'm thinking MOST of those on probation would not be eligible.

So dependents (mainly children) as well as homeless, prisoners and people who would not have gotten a tax cut under Obama's tax plan would not be eligible.

For the sake of easy numbers, lets say under these requirements 200 million taxpayers qualify, at $1 million per that's only $200 million. And the government could also stipulate that receivers of this money could not just quit their jobs because of the money. To discourage this, part of this taxpayer bailout could outline a requirement that all recipients must not leave their jobs by their own choice, save for specific and detailed exceptions such as death in the family or a spouse getting a job elsewhere in the country. Violators of this stipulation could be brought to court and serve jail time, as well as forfeit all money not allocated to debt.

Okay, so here's the really important part. Not everyone would get the money at the same time, and once they got it, there would be a 3 month, maybe 6 month or year long moratorium on casual spending. More specifically, the first thing recipients of this money would be required to do by law is pay off debt. At first, they could only use this money for student loans, credit card bills, car payments/loans, mortgages, debt in general. And the government could empower the companies that have money owed to them. I have Amex for example; if I received lets say six figures in this deal, one of the first things I'd be required to do by law is pay off my Amex credit card debt in full, like within a couple weeks. And if I do not, then they have the right to bring me to court at my expense. So the general idea is that taxpayers that get this money and buy cars and go on vacations instead of using it to address their debt would be forced to go to court and charged with a felony crime.

Another reason why this is better is that actual Americans get this money, not huge greedy corporations who got us in this mess in the first place. Have you scene the movie Idiocracy with Luke Wilson? Well in that movie, there are a few huge corporations that basically run the country, like Carl’s Jr. Starbucks etc.

Corporations are created by people and run by people; and I am deeply afraid that large corporations not only have a strong influence on our countries leaders, but I am more afraid that one day, America will be a country of corporations, not a country of people.

Deep down, I know this idea is more than just a long shot. But I think that if American taxpayers got a bailout instead, paid off their debt, and then had some disposable income, our economy would turn around. Average Americans would be able to support the local and national economies by spending money on cars, TV’s, widgets! And even though the mortgage crisis could not possibly be completely fixed by this taxpayer bailout, many working American’s instead of having a huge debt on their house and no foreseeable way to address it, they would own their home and stay in their home.

While I'm not 100% sold on the $1 million figure, it illustrates how relatively cheap The Danny McSquare Taxpayer Bailout is compared to bailing out AIG, Detroit, CitiGroup and Wall Street. I mean, even a figure somewhere around 100k would go a long way for working taxpaying families who have no ability to contribute to the economy because of their debt and living from paycheck to paycheck. This plan is a win for consumers, it's a win for the car industry, it's a win for small business, and it’s just a win.

Would love to read comments, so please leave them!

Happy Thanksgiving,

dAnNy McSqUaRe