Right now, the way things are, the working poor have no "disposable" income to spend, save, or invest in anything. They are struggling to keep a roof over their heads and groceries in their pantries. They have no savings or slush funds to fall back on in hard times such as these. I am tired of hearing about govt measures and big bank bailouts to "stimulate the economy" and, supposedly, to get Americans spending again. Giving money to the banksters and bailing out wall st. isnt helping Americas working poor in any way, yet, they are the ones who are paying the vig on the bailouts.
Do we really want to see Americans spend more money? If so, the answer is simple. Just give the working poor, that is, any working individual or household that earns $50,000 or less per yer, - a years salary as a stimulus and watch the spending begin. Bills will get paid, late mortgages will be caught up, wares of all kinds will be bought and sold, cars, electronics, etc., even homes will be bought (I hear they are going cheap today, with mostly wealthy investors buying) Some "Working Poor Stimulus" money may even get invested in new business ventures. Money will be spent and that is the whole idea of "growing" our economy, is it not? Whats more, it would be cheaper for the govt (actually, the tax-payers) in the long run. How much do you think we would need to give everyone making under $50,000 per year a years worth of salary for stimulus? I bet we could do it for waaay under 1 billion dollars - a mere pittance by todays standard of U.S. giving.
Why not a stimulus for the working poor?
Tell Obomba to give us a break. Give us our own stimulus act.
Related: Click on title above to read about "Americas Disappearing Middle Class"
We will all be "working poor" soon if things dont "Change.org" soon.