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first and foremost instead of giving all this money to the financial institutions where we will never see it again, the money should be used to sat up a fund for the taxpayer. Now this money should be used to offer all US taxpayers a government loan in the amount sufficient for each of their credit card, mortgage, auto loans payed off with strict guidelines to ensure that the loans are paid in full and closed. Now these loans should or could be low to no interest with option of payroll deductions, income tax surrenders at tax time to offset the balance owed sooner with the proceeds at such a time going straight to the principle instead of interest. After that it would reset all financial institutions to a zero balanced sheet and in most instances in the black. Now it is very much possible for the federal government to know an individuals accounts and the funds could be wired into the accounts not even touching the hands of the loan holder, therefore reducing the chance of fraud and misuse. As it is now the institutions are double dipping taking the money from the government for sour loans and still harassing the loans holders for their payments, this would stop the problem from all points. Now it would not be necessary for the taxpayer to have any extra money just enough literally cover all existing loans for said taxpayer. The taxpayer would then have all the income freed up from making the loan or card payment to reinvest in this great country. I hope that this current situation will have influenced everyone enough that they would in the future be much more responsible, including myself, with their future. After everything is said and done the taxpayer would be have more than enough capital to quickly pay off these low to no interest loans with incentives added for early pay off the federal government would have more than enough to function with the taxes already in place and I am sure more to come; and the loans payments come in every month from every tax paying citizen in the country, wow our coffers would be overflowing again. The old testament called it a Jubilee year where all debts were forgiven and criminal pardoned. Please give me your ideas on how you would solve the current crisis and help return this country to the most prosperous in the world.

10 Thoughts on socialism versus democracy; my solution to the financial crisis and what are your ideas on how to do it?
  1. Reply
    KДЯL
    June 7, 2011 at 7:08 am

    REDISTRIBUTE THE WEALTH AND INCREASE THE ABILITIES OF THE GOVERNMENT. PROBLEMS SOLVED!!

  2. Reply
    j
    June 7, 2011 at 7:32 am

    we should fund the struggle of the Proletarians!

  3. Reply
    Yulia Tymoshenko Rules
    June 7, 2011 at 8:14 am

    Paragraphs.

  4. Reply
    Josh
    June 7, 2011 at 8:44 am

    Honestly, I don’t know. I have a friend who proposed something similar. However, the problem with the banks isn’t just that they have bad loans — most of it is those crazy derivatives, the “financial weapons of mass destruction,” rather than the loans themselves. So I’m not sure how well it would work.

  5. Reply
    Ennui
    June 7, 2011 at 9:08 am

    How about we just eliminate the income tax and make a flat tax on purchased goods?

    Wow, I trumped your wall of text with one sentence. Yay me!

  6. Reply
    The Big A -- American Atheist
    June 7, 2011 at 9:43 am

    Their is a lot of problems politically to do what you want — companies would yell socialism and so would their phonies — but a national bank or a break up of the companies should of been done — politically it will never happen

  7. Reply
    erisian
    June 7, 2011 at 9:46 am

    you know, may countries use a political/economic system called democratic socialism; it can even be argued that the US has had a version of this system since the first world war.

    now to your suggestion, that would require MANY times the amount of money that has been spent.

    also paragraphs are your friend.

  8. Reply
    Memphis
    June 7, 2011 at 10:30 am

    The solution is to let the free market work.

    When you cant afford a home, you lose it. The prices of homes come down and those who work, get an education, etc… can afford the home you didnt pay for.

    If the free market was at work we wouldnt have a glut of homes, people would know what types of businesses to invest in, unemployment would be much lower, and our deficit wouldnt have doubled.

    Cut the deficit, bring our troops home, quit spending on what we cant afford, and end liberal deregulation on the free market (fannie mae, freddie mac), and force the government to actually pay for Medicare and Medicaid instead of shifting the cost onto those with insurance.

  9. Reply
    therascal
    June 7, 2011 at 10:40 am

    The easiest way is to get Obama and his band of socialist thugs out of Washington…ASAP!!

  10. Reply
    Pork
    June 7, 2011 at 11:18 am

    There is no lending crisis, and there never was. Credit remains cheap. I work in finance.

    The entire stock market and federal reserve are in collusion. The vast majority of trades are controlled by a very select few. Please learn much more about economics, but keep in mind that it is all a scam. There is no free market. The amount of money controlled by regular American investors is tiny compared to the top ten international elite stockholders. They have more money than the rest of America.

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