Kucinich puts forth different bailout plan

[AnOhioan]

With the White House and Wall Street pressuring Congress to quickly approve a massive taxpayer-funded bailout package this week, several Democrats are coming forward with proposals they say would benefit average Americans alongside financial executives.

Rep. Dennis Kucinich (D-OH) outlined a proposal he said would create "a genuine ownership society," by giving taxpayers a stake in the companies the government will be saving with its proposed $700 billion package.

“Simply purchasing bad debt, 'cash for trash' and not receiving anything of value or giving $700 billion and not having a commensurate equity interest in Wall Street firms is unacceptable," Kucinich said in a news release Monday. "No 'cash for trash.'"

The former Democratic presidential candidate said he would be introducing a bill this week to create a "United States Mutual Trust Fund" to convert assets purchased by the governemnt into shares that would be distributed to every man, woman and child in the country. Every American would receive about $2,300 worth of shares because that is the cost of the bailout package to each individual, Kucinich said.


Complete article http://rawstory.com/news/2008/Kucinich_No_cash_for_trash_give_0922.html

[yourout]

1. Neat idea......not sure how to implement it though.

[Winterblues]

13. Look to Alaska

Every citizen owns shares in a "Perminent Fund" and receives dividends from earnings in that fund. A very Capitalistic approach to an ownership society and one that every citizen either Republican or Democrat seems to like very much.

[tekisui]

2. Great Idea! We buy, we own it! I'll take that stock, thank you very much!!!

[PetrusMonsFormicarum]

3. Obviously

being a total fucking genius is not a prerequisite to becoming President.

Who needs the presidency? Keep on keepin' on, Dennis!

[LaPera]

4. Unfortunately, no one listens to Kucinich...The Dems treat him like he's got a contagious disease!

And the republicans just laugh and ignore him....

I love the guy.

[Mandate My Ass]

8. He has a very contagious disease - populism - most wish it was terminal

on both sides of the aisle. :eyes:

[superkia]

10. Its too bad that even many here on DU followed the media and

ignored and ridiculed the man. Kucinich got my primary vote but too many Americans are brainwashed to the point of never voting for the person that represents them and theirs because of a WORD...unelectable!

Americans are getting what we deserve but many around the world are being destroyed because of our lazy, blind attitudes of what has been happening around us for many, many years. Most people I speak with still have a very closed mind when comes to our gooberment, they don't want to admit how bad it really is, instead ignore it until all our freedoms our gone or we are dead!

[melody]

5. You'd think if we pay for it, we'd get a stake in it

At least Dennis made the statement.

[liberalmuse]

6. I adore this man.

The world isn't worthy of him, but just think how awesome America would be if there were more like him in Congress.

[LaPera]

9. Awesome?

[avaistheone1]

7. I like it.

Wall Street need to be responsible for once for the mess that they created.

[nashville_brook]

11. remember when Bush said in 2004 that he had "earned capital" and was going to spend it...

well, he never earned it -- he stole it -- and it's time we got back what's been taken from us.

[Selatius]

12. Republican response: SOCIALISM BAD! KUCINICH = GODLESS SOCIALIST!

In fact, anything they dislike can be cataloged in the big box of communism socialism. It's the same damn box from 50 years ago but with a new name scribbled on.

[Dover]

14. Interesting. But, given a choice, would the American people invest in these companies ?

Would I choose to own shares in these companies and in such a volatile market? No.