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Egypt 360 --- مصر ٣٦٠ ®
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Our Economic Stimulus of 2013:
Introduction
There is a lot of confusing data about US economy and US government attempts to deal with economic issues.
The following are what we know so far:
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The Economic Stimulus Act of 2008 was an Act of Congress providing for several kinds of economic stimuli intended to boost the United States economy in 2008 and to avert a recession. The total cost of this bill was projected at $152 billion for 2008 with average pay per family is $600 and $300 for single.
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The 2009 U.S. Bailout and Stimulus Pledges Totaled $11.6 Trillion - which will be paid by taxpayers.
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Banks were supposed to use the bailout money to help the economy by putting the money back into US citizens' hands to simulate the economy which they did not, but they end up charging more interest on their loans.
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The big banks took the bailout money and ended up purchasing smaller banks and paying their own debts.
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The US Economy is still in the red.
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Our Economic Stimulus of 2013
We are proposing the following to the US President Obama and US Congress, where our Economic Stimulus of
2013 will put the money in US citizens hands, simulate the economy and the money borrowed will be paid
back in full.
The following are the steps of our proposed stimulus:
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Last year, the federal government collected $2.3 trillion in taxes. Most of that came from two sources: Individual income taxes and payroll taxes.
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Individuals can borrow from the federal government up to 50% of the federal taxes he/she paid for 2012.
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There are two plans: Five or Ten years plan. The loan taken will be paid back in five or ten years and it is the borrower's choice.
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For Five Years Payment Plan, there would be only five payments, each payment is paid with tax return filing.
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For Ten Years Payment Plan, there would be up to ten payments, each payment is paid with tax return filing.
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The assumed loans to the borrowers would be 50% of $2.3 trillion which is $1.15 trillion that will stimulate the economy and hopefully put Americans back to work.
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The loans are based on the amount of taxes paid only which would be fair to individuals who paid more can borrow more.
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The proposed stimulus should be protected from Oil Companies who may fabricate turmoil in the
Middle East in order to raise oil prices and steal the stimulus capital into their pockets.
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The same thing can also be applied to help business, but it is up the President and Congress to make such a plan for business.
Example:
Let us assume a taxpayer named Mr. Smith paid $10,000 in taxes to the federal government in
2012. Mr Smith is entitled to borrow from the federal government (US treasury) up to 50%
of $10,000 which is $5,000. Mr. Smith is free to spend his $5,000 any way he wishes. Mr. Smith
must pay this loan as a five or ten years plan. His payment is done once a year with his tax
filing. Therefore, Mr. Smith will pay his taxes for 2013 plus $1,000 or $500 (5 or 10 year
loan plan) plus interest to the federal government. Let us assume that Mr. Smith is getting
a refund of $2,000, then $1,000 or $500 plus interest is taken out of his refund.
We believe that will put $1.15 trillion into the economy, make it easy on the tax payer to
pay the loan back without any hardship. The money is put in the taxpayers hands to use and
our economy is stimulated with $1.15 trillion.
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