As Wall Street continues to hang by a thread everyone is searching for a good game-plan out of a seemingly impossible scenario. Michael Moore has proposed a bailout strategy that actually comes with some very logical points. In a nutshell, Moore suggests that the very richest Americans who prospered most (more than $700 Billion the last 8 years) should pull themselves out of turmoil, not the flailing US taxpayers.
The richest 400 Americans—that’s right, just four hundred people—own MORE than the bottom 150 million Americans combined. 400 rich Americans have got more stashed away than half the entire country! Their combined net worth is $1.6 trillion. During the eight years of the Bush Administration, their wealth has increased by nearly $700 billion—the same amount that they are now demanding we give to them for the “bailout.” Why don’t they just spend the money they made under Bush to bail themselves out? They’d still have nearly a trillion dollars left over to spread amongst themselves!
- Michael Moore
He does have a strong point. It’s amazing to me that we have set up a society that asks taxpayers to front $700 Billion (a low figure) to help out corporations, while on the other hand it doesn’t really expect corporations to pay taxes and help out Americans. The fact that our government can essentially get all the players at a table to try to pass a bill of this nature pretty much overnight, but hasn’t even attempted to fix our broken healthcare or educational systems is unacceptable. Dealing with either of these issues would cost a fraction of the money being asked of taxpayers to reward Wall Street for their greed and gross negligence with our money. But fixing education and healthcare wouldn’t be good for those who would like to drive a wedge in the middle class and divide America into two classes (rich or poor). How can we expect our elected officials to act with any sense of ethics when they are indeed the insane running the asylum. Democracy is truly a great thing, mostly for our forefathers good intuition and belief that the country belongs to the people. So what needs to happen?
We do need a game-plan to reinvigorate our financial market. Just as badly, we need to undo the electoral college, abolish lobbyists from DC and to create campaign reform in which all candidates are limited to an equal spending budget appropriated to them by the government. These steps truly give power back to the people unlike the bullshit rhetoric of why shrinking government is good. It would eliminate special interest that has literally hijacked and controlled pretty much every bill passed in DC, affecting everything from the food we eat to the air we breathe. These steps would almost certainly see the end of the lame two party system that has continued to fail the citizens of this nation. And it would become a guideline so no politician could seize an office because of the size of their bank account. While that is a mouthful, I don’t see how we will stop the sky from falling if we don’t begin to do this. I’ll keep dreaming.