hey wait a sec

It occurred to my on my drive in today.....so the Prez says the banks need an influx of cash...very important he says. OK I'm down with that.

But how about this ? Instead of printing up a bunch of money and giving it to them, or instead of assuming all their debt, how about this plan...

The government immediately drops the federal income tax rate for everyone paying taxes by 60%. That means instead of paying 40% of your income in federal taxes you only have to pay 24%. That's going to immediately give everyone in the country between a 6% and 16% raise.

With that, many of the people defaulting on their mortgages will have the money to actually PAY their monthly mortgage. People who have been reluctant to purchase a house might have the funds to do so. And everyone else will have money to spend, invest, and PUT IN THE BANKS.

Now the natural question is, how is the government going to get by on 40% of what they're used to having ? I say, let them figure that out. They can tighten the purse strings, they can be more attentive to waste, and if they're really in a jam they can print up money like they plan on doing anyway. But at least this way, we'd stand a chance.