Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: NOW who wrote (87352)	9/30/2008 7:08:30 AM
From: Dan3	Read Replies (3) of 116555

Everyone's whining that the proposed bailout plan was no good, but on one's proposed an alternative - if something isn't put forward, they're going to ram that garbage down our throats! Whatever's done has to help both businesses and homeowners - consider the benefits a FICA tax holiday would provide: It could be implemented instantly, with no murky "who's being overpaid for what junk paper" controversy. It would actually fix the underlying problem: Businesses, which have to match employee contributions, will instantly see benefits as their costs drop from one day to the next. Wage earners who were having trouble paying their mortgage, credit card, and auto loans, will immediately have a boost for the next 2 to 3 years to get through this. It's fair, since benefits would go to those who didn't squander their money foolishly and take on excessive debt, as well as those who did. With a significant number of formerly bad mortgages and auto loans being paid back, the bonds based upon those loans and the markets based upon those bonds could make an true, honest, recovery.

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