THE POSITION OF BOB RIES TO JUMP START THE ECONOMY
State and Municipal Governments have extended tax incentives to private businesses for years, in order to entice those businesses to locate in their respective States or Cities to improve that State or City’s economies. I propose the Federal Government do the same thing to jump-start our national economy.
I propose we offer all lending institutions a short 6-month program to encourage lending at a maximum of 2.9%. Interest earned on every loan they make at 2.9% during this 6-month period will be exempt from Federal Taxes for the life of the loan.
For this 6 month period, I suggest we consider eliminating Federal Loan Regulations on these loans to allow returning to the times when Lending Institutions could determine on their own who they believed would repay their loans.
Lending institutions will virtually “push” money into our economy.
The construction and real estate industries will boom.
Businesses will be able to expand and hire more people.
People will be able to afford house payments easier.
People will be able to secure affordable loans for whatever they wish such as:
~home refinancing or remodeling
~purchase automobiles, TV’s and furniture, anything they want
~make investments for their (and their family’s) futures
Demands will not only be made on the above products, but also on supporting industries, thereby creating more jobs.
A study at the University of Arizona concluded that every dollar injected into our economy provides a yield of ten dollars.
I believe this program will more than pay for itself in future taxes, while stabilizing and growing our economy.
