Dear Mr. President,

Please find below my suggestion for fixing America’s economy. Instead of giving billions of dollars to companies that will squander the money on lavish parties and unearned bonuses, use the following plan. You can call it the Patriotic Retirement Plan:

There are about 40 million people over 50 in the work force.

Pay them $1 million apiece severance for early retirement with the following stipulations:

1) They MUST retire. Forty million job openings - Unemployment fixed.

2) They MUST buy a new American CAR. Forty million cars ordered - Auto Industry fixed.

3) They MUST either buy a house or pay off their mortgage - Housing Crisis fixed.

It can't get any easier than that!

P.S. If more money is needed, have all members in Congress and their constituents pay their taxes...
If you think this would work, please forward to everyone you know. If not, please disregard.

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Comments

Mo
11 May 09, 00:21

numbers do not add up...

The problem I see with this proposal is

40 million seniors X $1 million = $40 trillion!

I think obama's plan is more affordable, although too expensive still.

BlueCollarDollar.com
11 May 09, 11:42

Perhaps a more profitable idea

Add a three - five percent match to all 401(k) accounts up to an employee contribution of $5,000. Repeal that awful Pension Protection Act of 2006 (would re-capitalize Wall Street)

Offer a 2% loan on all new American made vehicles regardless of current credit situations and make the payments payroll deductible - pre-tax. (would make the car industry whole and profitable)

Restructure mortgages for current homeowners over 5o to 2%, over 40 to 3% and first time buyers at 4%. (Would come with gov't guarantees and some relief on exorbitant closing costs and unnecessary fees)

To do this, you will need to set the credit bar a little lower, making those with credit scores of 650 or more considered the best.

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