09-26-2008, 10:57 AM
The CRA... another failed attempt at social engineering by the feel good liberals.
How 'bout instead of bailing out the fat cats, the government take the 7B and divide it up among Americans that are 18 years old or older? In round figures $425,000 each. It would come as taxable income which means the gov't would get a portion of it back. NOW, the citizens SPEND that money, pay off loans and the good/bad mortgages, buy new cars, start savings accounts and college plans for their kids, travel, invest for their retirement and put the money back into the economy growing the GNP, creating jobs.
Reduce the "power" of banks to CREATE money out of nothing. By this I mean that when you take a loan at a bank, they are not giving you money that _they_ hold. Instead your mortgage becomes fiat legal tender, negotiable and of value and can be sold or traded. You sign the mortgage, the bank "creates" the money by tapping a few keys on the keyboard and crediting your account the amount of the loan. NEW money! I thought only the government could "print" money? A bank loan is just "virtual" money.
How 'bout instead of bailing out the fat cats, the government take the 7B and divide it up among Americans that are 18 years old or older? In round figures $425,000 each. It would come as taxable income which means the gov't would get a portion of it back. NOW, the citizens SPEND that money, pay off loans and the good/bad mortgages, buy new cars, start savings accounts and college plans for their kids, travel, invest for their retirement and put the money back into the economy growing the GNP, creating jobs.
Reduce the "power" of banks to CREATE money out of nothing. By this I mean that when you take a loan at a bank, they are not giving you money that _they_ hold. Instead your mortgage becomes fiat legal tender, negotiable and of value and can be sold or traded. You sign the mortgage, the bank "creates" the money by tapping a few keys on the keyboard and crediting your account the amount of the loan. NEW money! I thought only the government could "print" money? A bank loan is just "virtual" money.