Federal Reserve paying back taxes for people making less than 50k per year.
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The Federal Reserve is considering financial action to stimulate the financial stagnation in America. They have taken such action before. The first time the stimulus action went to a narrow band of interests. It was assumed that those interests would take meaningful action in America to enact positive change and trickle those resources to the masses. That does not appear to have happened.
In this new stimulus, I would like the Executive Branch of the government and the Federal Reserve to consider a broader distribution of those funds. I would like them to agree to a onetime payment to the ISR paying the back taxes owed for all people making less than 50k per year with a tax burden of less than 50k.
That $50 or $100 or $200 a month that those hard working people pay to the government would go a long way in easing some of the suffering that has transpired these last eleven years. If you give massive stimulus to huge corporation in a narrow band of industry you are constraining all that cash in those areas. You are not assured that the resources will reach the very people you want to help. If this idea is adopted, we will be impacting the well being of those families every month for months and in some cases years. Each of those people that spend their money at a business will distribute the money to stores of their choice, in their community. Businesses that would never have received stimulus will receive stimulus. More people will be spreading more money to more businesses.
I know folks that spend $3000 a day for breakfast delivery to their private jet. In two weeks they spend more for breakfast than many people make in an entire year. Rectifying the pittance I am talking about would do more than put an extra $50-$200 in the pockets of the 50k- group; it would be emotionally and spiritually inspiring, it would soothe some of the angst that people feel at their inability to care for themselves and their families. They would feel better each week, each month, each year, maybe several years. We give handouts to corporation in good faith that they will pass it on to the mainstream. They seem to leverage the money for their own benefit. We have to address the loss of faith and desperation while we develop and enact new sound financial practices. We need a meaningful plan that impacts a broad segment of society.
Thank you very much for your time and consideration.
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